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Unabated Climate Change Would Reverse The Development Gains In Asia

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ThinktoSustain
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Cover of the ADB report by PIK (cutout): Credit: PIK Potsdam

PIK-POTSDAM: Under a business-as-usual scenario, a 6 degree Celsius temperature increase is projected over the Asian landmass by the end of the century. Some countries in the region could experience significantly hotter climates, with temperature increases in Tajikistan, Afghanistan, Pakistan, and the northwest part of the People’s Republic of China (PRC) projected to reach 8 degree Celsius, according to the report, titled “A Region at Risk: The Human Dimensions of Climate Change in Asia and the Pacific.”

These increases in temperature would lead to drastic changes in the region’s weather system, agriculture and fisheries sectors, land and marine biodiversity, domestic and regional security, trade, urban development, migration, and health. Such a scenario may even pose an existential threat to some countries in the region and crush any hope of achieving sustainable and inclusive development.

“The global climate crisis is arguably the biggest challenge human civilization faces in the 21st century, with the Asia and Pacific region at the heart of it all,” said Bambang Susantono, ADB Vice-President for Knowledge Management and Sustainable Development. “Home to two-thirds of the world’s poor and regarded as one of the most vulnerable region to climate change, countries in Asia and the Pacific are at the highest risk of plummeting into deeper poverty — and disaster — if mitigation and adaptation efforts are not quickly and strongly implemented.”

“The Asian countries hold Earth’s future in their hands. If they choose to protect themselves against dangerous climate change, they will help to save the entire planet,” said Professor Hans Joachim Schellnhuber, PIK Director. “The challenge is twofold. On the one hand, Asian greenhouse-gas emissions have to be reduced in a way that the global community can limit planetary warming to well below 2 degrees Celsius, as agreed in Paris 2015. Yet even adapting to 1.5 degrees Celsius temperature rise is a major task. So, on the other hand, Asian countries have to find strategies for ensuring prosperity and security under unavoidable climate change within a healthy global development. But note that leading the clean industrial revolution will provide Asia with unprecedented economic opportunities. And exploring the best strategies to absorb the shocks of environmental change will make Asia a crucial actor in 21st-century multi-lateralism.”

More intense typhoons and tropical cyclones are expected to hit Asia and the Pacific with rising global mean temperatures. Under a business-as-usual scenario, annual precipitation is expected to increase by up to 50% over most land areas in the region, although countries like Pakistan and Afghanistan may experience a decline in rainfall by 20-50%.

Coastal and low-lying areas in the region will be at an increased risk of flooding. Nineteen of the 25 cities most exposed to a one-meter sea-level rise are located in the region, 7 of which are in the Philippines alone. Indonesia, however, will be the most affected country in the region by coastal flooding with approximately 5.9 million people expected to be affected every year until 2100.

Economic impacts can be significant

Increased vulnerability to flooding and other disasters will significantly impact the region — and the world — economically. Global flood losses are expected to increase to $52 billion per year by 2050 from $6 billion in 2005. Moreover, 13 of the top 20 cities with the largest growth of annual flood losses from 2005-2050 are in Asia and the Pacific: Guangzhou, Shenzhen, Tianjin, Zhanjiang, and Xiamen (PRC); Mumbai, Chennai-Madras, Surat, and Kolkata (India); Ho Chi Minh City (Viet Nam); Jakarta (Indonesia); Bangkok (Thailand); and Nagoya (Japan).

Climate change will also make food production in the region more difficult and production costs higher. In some countries of Southeast Asia, rice yields could decline by up to 50% by 2100 if no adaptation efforts are made. Almost all crops in Uzbekistan, meanwhile, are projected to decrease by 20-50% by 2050 even in a 2 degree Celsius temperature increase (Paris Agreement scenario). Food shortages could increase the number of malnourished children in South Asia by 7 million, as import costs will likely increase in the sub-region to $15 billion per year compared to $2 billion by 2050.

Marine ecosystems, particularly in the Western Pacific, will be in serious danger by 2100. All coral reef systems in the subregion will collapse due to mass coral bleaching if global warming increases by 4 degree Celsius (global business-as-usual scenario). Even with a 1.5 degree Celsius temperature increase, 89% of coral reefs are expected to suffer from serious bleaching, severely affecting reef-related fisheries and tourism in Southeast Asia.

Effects on health and on migration

Climate change also poses a significant risk to health in Asia and the Pacific. Already, 3.3 million people die every year due to the harmful effects of outdoor air pollution, with the PRC, India, Pakistan, and Bangladesh being the top four countries experiencing such deaths. In addition, heat-related deaths in the region among the elderly are expected to increase by about 52,000 cases by 2050 due to climate change, according to data from the World Health Organization. Deaths related to vector-borne diseases such as malaria and dengue may also increase.

A business-as-usual approach to climate change could also disrupt functioning ecosystem services, prompting mass migration — mostly to urban areas — that could make cities more crowded and overwhelm available social services.

Moreover, a warmer climate for the region could endanger energy supply. Climate change can exacerbate energy insecurity through continued reliance on unsustainable fossil fuels, reduced capacities of thermal power plants due to a scarcity of cooling water, and intermittent performance of hydro-power plants as a result of uncertain water discharges, among other factors. Energy insecurity could lead to conflicts as countries compete for limited energy supply.

Investment decisions can help to stabilize our climate

To mitigate the impact of climate change, the report highlights the importance of implementing the commitments laid out in the Paris Agreement. These include public and private investments focused on the rapid de-carbonization of the Asian economy as well as the implementation of adaptation measures to protect the region’s most vulnerable populations.

Climate mitigation and adaptation efforts should also be mainstreamed into macro-level regional development strategies and micro-level project planning in all sectors, in addition to the ongoing renewable energy and technology innovation efforts in urban infrastructure and transport. The region has both the capacity and weight of influence to move towards sustainable development pathways, curb global emissions, and promote adaptation, the report concludes.

ADB approved a record $3.7 billion in climate financing in 2016 and has committed to further scale up its investments to $6 billion by 2020.

From Dry to Wet: Rainfall Might Abruptly Increase in Africa’s Sahel

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ThinktoSustain
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Further warming might enhance water availability for farming and grazing. (Photo: Thinkstock/PIK Potsdam)

PIK-POTSDAM: Climate change could turn one of Africa’s driest regions into a very wet one by suddenly switching on a Monsoon circulation. For the first time, scientists find evidence in computer simulations for a possible abrupt change to heavy seasonal rainfall in the Sahel, a region that so far has been characterized by extreme dryness. They detect a self-amplifying mechanism which might kick-in beyond 1.5-2 degrees Celsius of global warming – which happens to be the limit for global temperature rise set in the Paris Climate Agreement. Although crossing this new tipping point is potentially beneficial, the change could be so big, it would be a major adaptation challenge for an already troubled region.

“More rain in a dry region can be good news,” says lead-author Jacob Schewe from the Potsdam Institute for Climate Impact Research (PIK). “Climate change due to greenhouse gases from burning fossil fuels really has the power to shake things up. It is driving risks for crop yields in many regions and generally increases dangerous weather extremes around the globe, yet in the dry Sahel there seems to be a chance that further warming might indeed enhance water availability for farming and grazing.” Co-author Anders Levermann from PIK and Columbia University’s Lamont-Doherty Earth Observatory adds: “We don’t know what the impacts on the ground will be, this is beyond the scope of our study; but imagine the chance of a greening Sahel. Still, the sheer size of the possible change is mind-boggling – this is one of the very few elements in the Earth system that we might witness tipping soon. Once the temperature approaches the threshold, the rainfall regime could shift within just a few years.”

Regions like the central parts of Mali, Niger, and Chad – which are practically part of the Sahara desert – could receive as much rainfall as is today registered in central Nigeria or northern Cameroon which boast a richly vegetated tropical climate.

A new tipping element in the climate system

Dozens of cutting-edge climate computer simulation systems indicate, on average, a weak wet trend for the Sahel under unabated climate change, so it is well known that there will likely be some more rain in the region in a warming world. The scientists now took a closer look at those simulations that show the greatest increase, plus 40 to plus 300 percent more rain, while others show only a mild increase or even slight decreases. They find that in these wet simulations, as the surrounding oceans warm, Sahel rainfall increases suddenly and substantially. During the same time the monsoon winds that blow from the Atlantic ocean to the continental interior get stronger and extend northwards. This is reminiscent of periods in earth’s history during which, according to paleoclimatic findings, African and Asian monsoon systems alternated between wet and dry, sometimes quite abruptly.

The scientists previously identified a self-amplifying mechanism behind the sudden rainfall changes. When the ocean surface temperature increases, more water is evaporated. The moist air drifts onto land, where the water is released. When water vapor turns into rain, heat gets released. This increases the temperature difference between the generally cooler ocean and the warmer landmasses, sucking more moist winds into the continent’s interior. This again will produce more rain, and so on. “Temperatures have to rise beyond a certain point to start this process,” explains Schewe. “We find that the threshold for this ‘Sahel monsoon’ is remarkably similar across different models. It seems to be a robust finding.”

Huge adaptation challenge for an already troubled region

“The enormous change that we might see would clearly pose a huge adaptation challenge to the Sahel,” says Levermann. “From Mauritania and Mali in the West to Sudan and Eritrea in the East, more than 100 million people are potentially affected that already now are confronted with a multifold of instabilities, including war. Particularly in the transition period between the dry climatic conditions of today and the conceivably much wetter conditions at the end of our century, the Sahel might experience years of hard-to-handle variability between drought and flood. Obviously, agriculture and infrastructure will have to meet this challenge. As great as it hopefully were for the dry Sahel to have so much more rain,” concludes Levermann, “the dimension of the change calls for urgent attention.”

Volvo Cars To Go All Electric

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ThinktoSustain
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Volvo Cars’ T8 Twin Engine Range. Image: Volvo Group

VOLVO CAR GROUP: Volvo Cars, the premium car maker, has announced that every Volvo it launches from 2019 will have an electric motor, marking the historic end of cars that only have an internal combustion engine (ICE) and placing electrification at the core of its future business.

The announcement represents one of the most significant moves by any car maker to embrace electrification and highlights how over a century after the invention of the internal combustion engine electrification is paving the way for a new chapter in automotive history.

“This is about the customer,” said Håkan Samuelsson, President and Chief Executive. “People increasingly demand electrified cars and we want to respond to our customers’ current and future needs. You can now pick and choose whichever electrified Volvo you wish.”

Volvo Cars will introduce a portfolio of electrified cars across its model range, embracing fully electric cars, plug in hybrid cars and mild hybrid cars.

It will launch five fully electric cars between 2019 and 2021, three of which will be Volvo models and two of which will be high performance electrified cars from Polestar, Volvo Cars’ performance car arm. Full details of these models will be announced at a later date.

These five cars will be supplemented by a range of petrol and diesel plug in hybrid and mild hybrid 48 volt options on all models, representing one of the broadest electrified car offerings of any car maker.

This means that there will in future be no Volvo cars without an electric motor, as pure ICE cars are gradually phased out and replaced by ICE cars that are enhanced with electrified options.

“This announcement marks the end of the solely combustion engine-powered car,” said Mr Samuelsson. “Volvo Cars has stated that it plans to have sold a total of 1m electrified cars by 2025. When we said it we meant it. This is how we are going to do it.”

The announcement underlines Volvo Cars’ commitment to minimizing its environmental impact and making the cities of the future cleaner. Volvo Cars is focused on reducing the carbon emissions of both its products as well as its operations. It aims to have climate neutral manufacturing operations by 2025.

The decision also follows this month’s announcement that Volvo Cars will turn Polestar into a new separately-branded electrified global high performance car company. Thomas Ingenlath, Senior Vice President Design at Volvo Cars, will lead Polestar as Chief Executive Officer.

Delhi Faces Its Worst Smog

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ThinktoSustain
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Smog in Delhi Post Diwali
Smog in Delhi Post Diwali
  • Health emergency as pollution peaks after Diwali.
  • Delhi government must issue health alerts and warn children and vulnerable to stay indoors.
  • Emergency action as well as more permanent measures needed to save lives.

New Delhi – As visibility remains poor and the city chokes its way through a haze, Centre for Science and Environment (CSE) has pressed the alarm buttons on one of the worst smog cases in many years in Delhi. CSE experts say that as per the India Meteorological Department, the smog on November 2, 2016 was the worst in 17 years.

“This demands emergency response to protect the vulnerable – those who are suffering from respiratory and heart diseases and children. The government should aggressively inform all and advise them to stay indoors and avoid outdoor exercises. At the same time, it should roll out stringent winter pollution control for all sources along with emergency action” said Anumita Roychowdhury, Executive Director (Research and Advocacy), CSE and Head of CSE’s air pollution and sustainable mobility teams:

The CSE analysis of available official data brings out the following:

Post-Diwali peak of pollution is higher than the Diwali peak.

  • The analysis of data from Delhi Pollution Control Committee shows that the levels of PM2.5 have increased by 62.7 per cent on November 2 as compared to that on Diwali. On November 2, the levels were 9.4 times the standard.
  • On the night of November 1, (12 am to 6 in the morning of 2nd November), the PM2.5 concentration had hit 548 microgramme per cubic metre (cu m) – 9 times the standard. The following day (November 2), PM2.5 concentration (6 am to 12 noon) increased to 696.25 microgramme per cu m – 11.6 times the standard. The morning concentration was 27.1 per cent higher compared to the night time concentration. The hourly averages were as high as 800-900 microgramme per cu m.
  • According to SAFAR, the PM2.5 levels are in severe category and are expected to remain in this category for more than three days.

Worst ever smog in 17 years – November 2, 2016

According to the Indian Meteorological Department, this is the worst smog with very poor visibility in 17 years. The Indira Gandhi International Airport in Delhi recorded the worst levels of smog in 17 years on November 2, with visibility as low as 300-400 metres. The period between 11AM and 2:30 PM was the worst in the day with respect to airport visibility. The post-Diwali smog reduced the visibility there to 800-1,200 m since October 30. Pollution during Diwali, other sources of pollution along with weather-related factors lead to such abnormal levels.

Meteorological scientists explain that lower level anticyclone—a weather phenomenon which prevented the dispersion of smog— developed around Delhi on November 2, 2016.  There was virtually no wind in the vertical column. This situation is expected to persist for few more days.

The Central Pollution Control Board has already warned that the average wind speed this year on Diwali day was much less — 1.3 m/s compared to last year’s 3.4 m/s. Also, the mixing height this year was 492 meters whereas in 2015 it was 590 meters. The lower wind speed and mixing height do not allow wind to disperse quickly leading to higher concentration of pollutants.

Unending paddy burning in Punjab, Haryana and Uttar Pradesh

Satellite images of NASA’s fire mapper have showed that incidences of paddy burning in Punjab, Haryana and Uttar Pradesh have increased after Diwali. The images clearly revealed that after October 30, 2016, crop burning in Punjab, Haryana and Uttar Pradesh became more aggressive which would have contributed to the severe smog in the national capital.

“Delhi needs strong action to protect people from such deadly exposure. Immediately step up action and put out hard health evidences and heath alerts in the public domain to sensitise people about the harmful effects of smog and push action. Delhi needs an effective winter pollution mitigation plan that can make a difference. Without strong action smog is only expected to get worse this winter at serious public health costs”, said Roychowdhury.

CSE issued guidance to various agencies to take urgent action on the worsening scenario.

  • Issue daily health advisory to people:  India has already adopted a system of issuing health advisories along with its air quality index. But this is not being utilised to issue alerts to people. It clearly states that not only those who are ailing are extremely vulnerable at the current level of pollution, but also the general public who can develop a host of symptoms.
  • Issue official advice to children and ailing to stay indoors: Health advisory needs to inform people to keep children and those suffering from heart and respiratory ailments and chronic obstructive pulmonary disease (COPD) indoors and avoid outdoor exercises. Schools should be shut if necessary. Children are more vulnerable. Children have poor defense mechanism. Their ability to metabolise and detoxify environmental agents is different. Given their hyper level of physical activities, they inhale more volume of air than adults and therefore breathe in more pollution. Joint studies of Central Pollution Control Board and the Chittaranjan National Cancer Research Institute from Kolkata have shown that every third child in Delhi has impaired lungs. At their growing age due to greater level of physical activity they inhale more volume of air and therefore more pollution.
  • Need pollution emergency plan to cut peak pollution levels: The government must announce slew of emergency actions. It needs measures to reduce vehicle numbers, shut down the Badarpur power plant, and take very stringent action on waste burning, construction activities, and ban on fireworks in all social events during winter.
  • Roll out short-to-medium term action for enduring change: This year has been a lost opportunity with regard to short-to-medium term measures. Apart from restrictions on truck entry, no other action has been initiated — especially on public transport, walking and cycling, parking restraints and other measures related to other pollution sources. This cannot be delayed any further. A time-bound action plan will have to be rolled out immediately.
  • Need inter-state cooperation and intervention of the Central government to control farm fires in Punjab and Haryana: The action directed by the Supreme Court as well as the National Green Tribunal related to subsidy for farmers to buy appropriate technology that will prevent burning of straw as well as the infrastructure for reuse of straw should be put in place very quickly. This needs financial support from the Central as well as state governments.

Electric Cars to Combat Climate Change in the US: Obama

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ThinktoSustain
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An electric car getting charged
An electric car getting charged
  • Obama Administration’s actions include the designation of 48 National Electric Vehicle Charging Corridors on highways.

The White House: The Obama Administration has announced steps to combat climate change, increase access to clean energy technologies, and reduce dependence on oil. Already, in the past eight years the number of plug-in electric vehicle models has increased from one to more than 20, battery costs have decreased 70 percent, and the number of electric vehicle charging stations has increased from less than 500 in 2008 to more than 16,000 today – a 40 fold increase.

For the first time, the United State Department of Transportation (DOT) is establishing 48 national electric vehicle charging corridors on highways. These newly designated electric vehicle routes cover nearly 25,000 miles, in 35 states.

28 states, utilities, vehicle manufactures, and change organizations are committing to accelerate the deployment of electric vehicle charging infrastructure on the DOT’s corridors;

24 state and local governments are committing to partner with the Administration and increase the procurement of electric vehicles in their fleets;

The United States Department of Energy (DOE) is conducting two studies to evaluate the optimal national electric vehicle charging deployment scenarios, including along DOT’s designated fueling corridors; and

38 new businesses, non-profits, universities, and utilities are signing on to DOE’s Workplace Charging Challenge and committing to provide EV charging access for their workforce.

Today’s announcements build on a record of progress from multiple programs across the Administration that work to scale up EVs and fueling infrastructure, including at the Departments of Energy, Transportation, Defense, the Environmental Protection Agency and with the private sector. This summer, the Administration opened up to $4.5 billion in loan guarantees to support the commercial-scale deployment of innovative electric vehicle charging facilities and in collaboration with the Administration, nearly 50 industry members signed on to the Guiding Principles to Promote Electric Vehicles and Charging Infrastructure.

This effort launched the beginning of a collaboration between the government and industry to increase the deployment of EV charging infrastructure.

Need to cut a Further 25% from Predicted 2030 Emissions

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ThinktoSustain
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t2s-unep-emissions

  • World is still heading for temperature rise of 2.9 to 3.4℃ this century, even with Paris pledges.
  • 2030 emissions will be 12 to 14 gigatonnes above levels needed to limit global warming to 2℃.
  • Opportunities include enhanced pre-2020 action building on Cancun pledges, cost-effective energy efficiency and stimulating action by cities, companies and civil society.

London – The world must urgently and dramatically increase its ambition to cut roughly a further quarter off predicted 2030 global greenhouse emissions and have any chance of minimizing dangerous climate change, UN Environment said today as it released its annual Emissions Gap report.

Made public the day before the Paris Agreement comes into force, the report finds that 2030 emissions are expected to reach 54 to 56 gigatonnes of carbon dioxide equivalent – far above the level of 42 needed to have a chance of limiting global warming to 2℃ this century. One gigatonne is roughly equivalent to the emissions generated by transport in the European Union (including aviation) over a year.

Scientists agree that limiting global warming to under 2℃ this century (compared to pre-industrial levels), will reduce the likelihood of more-intense storms, longer droughts, sea-level rise and other severe climate impacts. Even hitting the lower target of 1.5 ℃ will only reduce, rather than eliminate, impacts.

The predicted 2030 emissions will, even if the Paris pledges are fully implemented, place the world on track for a temperature rise of 2.9 to 3.4 degrees this century. Waiting to increase ambition would likely lose the chance to meet the 1.5 ℃ target, increase carbon-intensive technology lock-in and raise the cost of a global transition to low emissions.

“We are moving in the right direction: the Paris Agreement will slow climate change, as will the recent Kigali Amendment to reduce HFCs,” said Erik Solheim, Head of UN Environment. “They both show strong commitment, but it’s still not good enough if we are to stand a chance of avoiding serious climate change.

“If we don’t start taking additional action now, beginning with the upcoming climate meeting in Marrakesh, we will grieve over the avoidable human tragedy. The growing numbers of climate refugees hit by hunger, poverty, illness and conflict will be a constant reminder of our failure to deliver. The science shows that we need to move much faster.”

The need for urgent action has been reinforced by the fact that 2015 was the hottest year since modern record keeping began. The trend is continuing, with the first six months of 2016 all being the warmest ever recorded. Yet emissions continue to increase, the report says.

The Kigali Amendment to the UN Environment-hosted Montreal Protocol, agreed last month, aims to slash the use of hydrofluorocarbons. Early studies indicate this could cut another 0.5 degrees if fully implemented, although emissions won’t begin to be reduced at any significant rate until 2025.

Also, while members of the G20 are collectively on track to meet their Cancun climate pledges for 2020, these pledges fall short of creating a sufficiently ambitious starting point to align with the temperature target of the Paris Agreement.

However, the Gap report presents an assessment of the technologies and opportunities to find the further cuts required, including through non-state actors, energy efficiency acceleration and crossover with the sustainable development goals.

Non-state actors (the private sector, cities, regions and other subnational actors like citizen groups) can cut several gigatonnes off the gap by 2030 in areas such as agriculture and transport, provided the many initiatives meet their goals and do not replace other action.

Energy efficiency is another area where investment could bring bigger gains. Investments in energy efficiency increased by 6 per cent to US$221 billion in 2015, indicating that action is already happening.

Studies show that for an investment of between 20 and 100 US$ per tonne of carbon dioxide, energy efficiency emissions reduction potentials (in gigatonnes) by 2030 are 5.9 for buildings, 4.1 for industry and 2.1 for transport.

A new report released by the 1 Gigaton Coalition shows that renewable energy and energy efficiency projects implemented in developing countries from 2005 to 2015 will reduce emissions by almost half a gigatonne by 2020, including action by countries that do not have formal Cancun pledges.

“Internationally supported projects on renewable energy and energy efficiency are making significant contributions to reducing global greenhouse emissions,” said Børge Brende, Norway’s Minister of Foreign Affairs. “Thanks to the work of the 1 Gigaton Coalition we can measure and report the impact of these projects to see how far we still have to go to reach the climate goal. This is how the coalition aims to inspire countries around the world to raise their action and ambition on climate change through the energy sector.”

Global Business Moves towards a Low Carbon World

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CDP: Out of the starting blocks: Tracking progress on corporate climate action
CDP: Out of the starting blocks:
Tracking progress on corporate climate action
  • New baseline-setting report for corporate climate action will track progress against Paris climate goals in future editions, and finds companies already gaining competitive advantage from reducing their emissions.
  • Business is gearing up to go low-carbon with 85% of companies already having emissions reduction targets in place.
  • But these targets are lacking long-term vision and only take companies one quarter of the way to being in line with keeping global warming below critical 2˚C threshold.

CDP: Global corporations have begun the transition to a low-carbon economy and some are already capitalizing on the opportunities this affords, whilst a large number risk being left behind through lack of long-term planning and inertia, according to analysis released today by CDP, the not-for-profit global environmental data platform.

CDP’s report, Out of the Starting Blocks: Tracking Progress on Corporate Climate Action, produced in partnership with We Mean Business, presents carbon emissions and climate change mitigation data from 1,089 companies, disclosed to CDP at the request of 827 institutional investors with assets of US$100 trillion. These companies – which represent some of the world’s most significant in terms of market capitalization and environmental impact – account for 12% of total global greenhouse gas emissions.

With entry into force of the Paris Agreement on climate change confirming the shift to a low-carbon economy, CDP will show how business action is stacking up against the world’s new climate goals by tracking this group of companies in subsequent annual reports.

This year’s report, which sets the baseline, shows that the low-carbon transition can bring high returns. Over a five-year period, 62 companies have succeeded in cutting their emissions by 10% or more while increasing their revenue by the same margin. Collectively, revenue has increased by 29% and emissions reduced by 26% amongst this group, while the rest of the companies in the sample saw a 6% decrease in revenue alongside a 6% rise in emissions. The group includes:

Host Hotels and ResortsHost Hotels & Resorts Inc.: The US real estate company saw revenue growth of 22% over five years alongside a 23% drop in emissions, with overall emissions intensity falling by 37%. The company has a science based target in place to reduce its scope 1 and 2 emissions on an emissions per square foot basis 28% by 2020 from a 2008 base-year.

t2s-sca-logoSvenska Cellulosa Aktiebolaget: The Swedish consumer goods company and pulp and paper manufacturer reduced its emissions by 32% while increasing revenue by 19%, achieving a 42% drop in emissions intensity. The company is reducing annual costs by €5 million thanks to a new biofuel-powered kiln at one of its mills.

t2s-wipro-logoWipro: The Indian IT company saw growth of 15% over a five-year period alongside a 24% drop in emissions, with overall emissions intensity falling by 33%. The company has introduced new virtualization technologies across its servers, resulting in huge annual energy savings.

Companies are one of the key actors in enabling the global economy to achieve its climate goals and the report reveals that 85% of businesses already have at least one target in place to reduce their greenhouse gas emissions. However, these targets are lacking in long-term ambition, with just 14% of companies having set goals for 2030 or beyond. Moreover, just a small proportion of companies in the sample (9%) have committed to aligning their targets with the latest climate science for a 2˚C pathway.

Achieving their current targets would take the companies in the sample one quarter of the way to the level that their emissions should drop to in order to be consistent with keeping global warming below 2 degrees.

CDP’s Chief Executive Officer Paul Simpson says: “This baseline-setting report uses data related to companies’ activities pre-Paris Agreement; it shows that while many are already on the right path, there is still a large gap to close. With hundreds of companies already disclosing to CDP that they anticipate substantive changes to their business resulting from the Paris deal, we expect to see a shift to longer-term, more science-based targets in future years.”

“As investors look to reduce risk by shifting investments to less carbon intensive infrastructure, the spotlight will shine more intensely on corporate actions. There is still all to play for in the race to seize the opportunities from this transition.”

We Mean Business’ Chief Executive Officer Nigel Topping said: “We Mean Business is delighted to partner with CDP on this report, that sets the baseline for corporate action to combat climate change. We know that global business is instrumental in creating a below 2˚C world; this report shows that some companies are already reaping the business benefits of early action on climate.

“Future editions of this report will be the tool for the We Mean Business coalition to track how companies are capitalizing on the low-carbon transition, and bringing the global economy ever closer to its climate goals.”

Some of the largest companies in the world by market capitalization are notably absent from the analysis, having declined to respond to CDP’s investor-backed disclosure request. CDP will track a group of over 700 non-disclosing companies to monitor if they begin to engage with the process in future years and help investors assess their exposure to unrevealed risk. The three biggest companies by market capitalization that failed to disclose this year are Berkshire Hathaway, Facebook and Amazon.

With the Financial Stability Board’s Taskforce on Climate-related Financial Disclosures (TCFD) due to publish its recommendations for consultation later this year, pressure on companies to disclose how climate change is likely to impact their business is expected to grow.

Thomson Reuters Launches the Diversity and Inclusive Index

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t2s-diversity-inclusionNEW YORK/LONDON – Thomson Reuters has launched its new Diversity & Inclusion (D&I) Index. The D&I Index ranks the top 100 publicly traded companies globally with the most diverse and inclusive workplaces, as measured by 24 metrics across four key categories: Diversity, Inclusion, People Development and News Controversies. The Index is then calculated by weighing each metric based on importance in the market and how each company compares with its peers. The D&I Index is available on Thomson Reuters Eikon, as are the underlying diversity and inclusion metrics, which can be used to gain insight and help financial professionals screen companies for long-term opportunities and risks in their investments.

The launch of the D&I Index reinforces Thomson Reuters vision of delivering news, information and analytics to the global financial and corporate communities. The index ratings are supported by Thomson Reuters environmental, social, and governance (ESG) data, designed to transparently and objectively measure the relative performance of over 5,000 companies and provide clients with differentiated insight. Index scores are calculated for each company for the Diversity, Inclusion, People Development and News Controversy pillars. Only companies with scores across all four pillars are assigned an overall score (the average of the pillar scores). The top 100 ranked companies with the best overall scores are selected for the Index.

“We are in the midst of an historical shift in perspective that is affecting companies across the world and across industry boundaries. Diversity is becoming a performance issue, a growth engine,” said Debra Walton, Chief Product & Content Officer, Financial & Risk, Thomson Reuters. “Our research shows that companies that make investments and focus on ESG matters can have a stronger stock performance and better long-term profitability. For investors, looking beyond financial data is becoming more important. We are delighted to be able to provide our global clients with access to this important data and information through our Diversity and Inclusion Index and metrics, thereby helping to enable them to make better investment and socially responsible decisions.”

Will Jan, Vice President & lead analyst at Outsell commented, “In an increasingly globalized business environment, diversity and inclusion is more critical than ever. Having access to such information to drive responsible decisions is a natural next step in the evolution of financial services.”

“Diversity and inclusion is a fundamental part of our heritage,” said Patsy Doerr, Global Head of Corporate Responsibility and Inclusion at Thomson Reuters. “Not only is diversity and inclusion a strategic objective for Thomson Reuters internally, it also represents another step forward in our commitment to partner with clients to develop best practices in this space. Diversity and inclusion mean fostering a culture where diversity of thought, style, experience and approach is valued and nurtured so innovation can thrive. The business case is clear; in order to attract and retain top talent, this must be a top priority. This new D&I Index demonstrates our central values in action.”

Making the case for SME Sustainability Reporting

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Credit: GRI
Credit: GRI

Sustainability reporting by large and multinational companies has become commonplace over the last decade, however among small and medium enterprises (SMEs), the practice of sustainability reporting is not as widespread. GRI and the International Organisation of Employers (IoE), have released a publication to inspire SMEs to take action and establish their role in a more sustainable future by reporting on their main sustainability impacts.

​SMEs play a crucial role in driving economies

Worldwide, SMEs account for approximately 90% of businesses and therefore play a crucial role, particularly in developing countries, acting as key engines of job creation and economic growth. Statistics from The World Bank indicate that SMEs contribute up to 45% of total employment and up to 33% of national income (GDP) in emerging economies.

However, sustainability is not yet deeply entrenched in the majority of these businesses. In 2015, SMEs accounted for just 10% of the total number of sustainability reports captured in the GRI Sustainability Disclosure Database, with 90% coming from large and multinational organizations. Yet sustainability reporting is vital for both small and large organizations alike.

By reporting on their sustainability impacts, SMEs can improve risk management, foster responsible business practices and unlock new opportunities in global markets. Being responsible for creating four out of five new jobs in emerging markets, the sustainable growth of SMEs is vitally important for the development of future economies.

Embarking on the reporting journey

Recent global initiatives such as the UN Sustainable Development Goals are acting as catalysts to ignite SME reporting. GRI Sustainability Reporting Standards enable this reporting, helping organizations to understand and communicate their sustainability impacts and performance, and ultimately contribute to a more sustainable future.

First Global Sustainability Reporting Standards Set to Transform Business

By
ThinktoSustain
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Aerial view of offshore wind turbine farm at sea. Source: GRI.
Aerial view of offshore wind turbine farm at sea. Source: GRI.

Amsterdam – Today, GRI launched the world’s first global standards for sustainability reporting, giving companies a common language for disclosing non-financial information. The GRI Sustainability Reporting Standards will enable companies around the world to be more transparent about their impacts on the economy, the environment and society. They will also help organizations make better decisions and contribute to the United Nations Sustainable Development Goals (SDGs).

​The GRI Standards are the latest evolution of GRI’s reporting disclosures, which have been developed through more than 15 years of a robust multi-stakeholder process. The Standards are based on the GRI G4 Guidelines, the world’s most widely used sustainability reporting disclosures, and feature an improved format and new modular structure.  The new GRI Standards definitively replace the G4 Guidelines, which will be phased out by 1 July 2018.

“The GRI Standards make it much easier for companies to report non-financial information, using a well-understood shared language,” said GRI Interim Chief Executive Eric Hespenheide. “The Standards are more straightforward, making them accessible to potentially millions of businesses worldwide. Sustainability reporting, using the GRI Standards, is the best way for a company to disclose its economic, environmental and social impacts, thus providing insights into its contributions – positive or negative – toward sustainable development.”

According to research published in the MIT Sloan Management Review, 75 percent of senior executives in investment firms agree that a company’s sustainability performance is important to consider when making investment decisions. Most of the world’s biggest companies publish this information and with the new GRI Standards many more organizations – including small companies – will be able to provide investors, consumers, employees and other stakeholders with the performance information they need.

With input from business, labor, government, investors, civil society, academia and sustainability practitioners, the Global Sustainability Standards Board (GSSB), a fully independent standard-setting body, developed the GRI Standards in the public interest. This multi-stakeholder process is a critical element of GRI’s commitment to making sustainability considerations integral to every company’s decision-making process.

“The GRI Standards empower companies to effectively understand and communicate their environmental and social impacts,” said Vice Chair of the GSSB Michael Nugent. “Collaborating across the public and private sector, we designed these standards to guide sustainability reporting for any company, in any industry, for decades to come.”

The GRI Standards are a set of 36 modular Standards that facilitate corporate reporting on topics such as greenhouse gas emissions, energy and water use, and labor practices. The new format allows GRI to update individual topics based on market and sustainability needs, without requiring revisions to the entire set of GRI Standards. The GRI Standards are centered on materiality – focusing on the topics that represent the most significant impacts of the organization and are most important to organizations’ stakeholders – which supports sustainability reporting that is tailored to each individual company. A company can prepare a sustainability report in accordance with the GRI Standards at Core or Comprehensive level, or disclose individual topics to meet specific reporting needs.

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