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Although we’ve promised to introduce a cap on energy sector emissions, this cap will not address Scope 3 emissions (those up and down a company’s supplychain), which account for around 88% of total emissions from the oil and gas industry.
The committee’s most recent report , published in July, called for swift action to achieve the UK’s 2030 target of reducing carbon emissions by 68% compared to 1990 levels. For example, agricultural assets may be at risk of stranding because of physical climate impacts such as drought and desertification. It’ll be a mess.”
to Asia or Europe has higher carbon intensity than local coal use due to the leakage of methane – a powerful warming agent – throughout the LNG supplychain, but particularly during shipping. Cornell University ecosystem scientist Robert Howarth recently concluded that LNG exported from the U.S.
The evolving climate drives physical risks—damaged or strandedassets and business-interruption costs from severe weather events. For example, one provider calculates a company’s physical risk based solely on its headquarters location, despite its global supplychain stretching across far-flung manufacturing locations.
Its difficult to know which chemicals are being used in different products for specific applications, and then the fate of such chemicals in the supplychain and the ability to trace where theyre ending up. There is a big question around the transparency and disclosure of chemical additives, she said.
To maintain a chance to avoid the worst climate impacts, science says we need rapid, deep emissions cuts – at least 50 percent by 2030. Meanwhile, the cost of climate damage , already in the hundreds of billions of dollars , will continue to mount.
Build more investor confidence in green infrastructure projects The greatest fear that many investors have around investing in green infrastructure projects is that they become “strandedassets.” To prevent this, governments must make a long-term commitment to a green energy source such as hydrogen or nuclear. oil and gas).
managing $446 billion, announced plans to invest $100 billion in climate solutions by 2030. In the process, it makes starkly clear that transition plans—the specific and concrete strategies and timelines investors and companies are adopting for reaching their climate goals and acting on climate-related risk—aren’t about being defensive.
Exercising influence Worldwide, i nvestments in nature-based solutions (NbS), such as reforestation, or flood recovery, need to more than double by 2030 to US$384 billion, and the newly agreed Global Biodiversity Framework calls for at least US$200 billion of private sector capital a year. The capacity to employ this capital is huge.
Scope 3 is set to be the big issue beyond the energy sector this year, as shareholders and regulators seek greater clarity along the corporate supplychain. But while BP’s actions and words on transition are streets ahead of most peers, it still envisages 50% of capex being focused on traditional operations by 2030.
Last summer, the European Commission launched a raft of climate-related legislation – ‘ Fit for 55 ’ (Ff55) – to reduce net EU emissions by 55% by 2030 from 1990 levels. It includes a proposal for amending the 2009 Renewable Energy Directive to increase its target for renewables to 40% of its overall energy mix by 2030.
For financial institutions such as banks, insurance companies and investment managers, scope 3 emissions from supplychains and lending/investment portfolios are often more complex than for other industries. A simple example is that of a financial investment in a mining company.
Guidance highlights the vital role of protected areas as a conservation tool, warning against the risk of strandedassets. Since location and supply-chain data are usually only partially available, we are aware that we need to progress in our understanding of potential exposure to protected areas.
“Physical risk represents an increasingly severe risk for investors, with the escalating climate and natural capital crisis leading to elevated risks of damage from extreme weather events, supplychain disruptions, strandedassets, productivity impacts, insurance unaffordability, just transition impacts, and potential economic instability,” said Robyn (..)
The new strategy introduces crucial new “indicative checkpoints”: a 20-30% reduction in emissions from international shipping by 2030, and a minimum 70% reduction in emissions by 2040, relative to 2008 levels. Some companies will start acting and some won’t; there’s more risk of strandedassets.” What role should investors play?
Nature is at the base of every supplychain. trillion across the region by 2030. For now, business understanding and disclosure of nature risk – both from investee firms’ direct operations and along their supplychains – is patchy at best, with firms in the APAC region lagging global peers.
For business, investments in fossil fuels are now far riskier because the market expects them to become strandedassets in the foreseeable future. Action in this decade towards halving emission by 2030 offers our best chance of keeping 1.5ºC within reach. Their message to world leaders is loud. Action, action, action.
In February, the CCC also called on the government to bolster its climate adaptation focus, warning that flooding, nature restoration and infrastructure resilience alone will require a minimum £10 billion of investment a year to prepare the UK for the expected impacts of climate change.
indigenous populations), as well as working conditions throughout the supplychain (e.g. Risk is a central element in the decision to factor ESG principles into investing, as it can reduce future losses related to strandedassets. eliminating slavery and child labor). executive team, board, management, etc.),
With around 43% of its population currently without access to electricity, and a high proportion of the rest receiving intermittent or time-limited supply, Africa’s key energy priority is to achieve SDG 7 by 2030: access to affordable, reliable, sustainable and modern energy for all. . by 2030. . of GDP), with two ?
Over 750 companies from across the world are urging governments to phase out coal-fired power generation by 2030 for developed countries and by 2040 for other countries. trillion in real estate assets under management now committed to halving emissions by 2030, along with 20% of architects and engineers. .
billion to expand the country’s charging network, with around 300,000 public chargers expected to be available by 2030. The European Green Deal proposes zero emissions from new cars by 2035 and a 55% reduction of emissions from cars by 2030. Released last month, the UK’s new EV infrastructure strategy commits £1.6
Republican women care more about climate change than Republican men, something Rupp expects will be reflected in their investing decisions: “Also, Research by McKinsey found that in the US more than two-thirds of wealth will be held by women by 2030… and Republican Women care more about Climate issues than Republican men.
Investment in low-carbon industries is booming globally, opens new tab , while economies still reliant on fossil fuels are battling price volatility, strandedassets and investor uncertainty. Wind energy alone powers more UK homes than ever before, with offshore wind capacity expected to double by 2030.
In a late February expos, Heatmap News pointed to the widening gap between the rapid demand growth that utility planners are projecting and the deep challenges in getting turbine supplychains up and running. Investors are betting on natural gas, Heatmap wrote.
While companies such as Amazon, Nestlé, and Unilever have set targets for carbon neutrality, Microsoft just announced that it will become carbon negative by around 2030, and remove all the carbon the company has emitted since its founding in 1975.
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