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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.
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. For example, the indicative financed emissions from the UK financial sector in 2019 were found to be 1.8
In a letter to the Commission, WindEurope explained how low volumes of permitted projects have impacted Europe’s wind turbine manufacturers and wider supplychain. Increasing gas infrastructure must be avoided to avert dangerous climate impacts and strandedassets.”.
Investing in the development of onshore wind has also been a challenge, thanks to planning laws introduced in 2015 which allow one objection from a local resident to halt an entire onshore wind project.
This realisation was partly sparked by the strandedassets debate initiated by Carbon Tracker in 2013, says Vanston, with research conducted by the London School of Economics’ Grantham Research Institute calling on regulators, policymakers and investors to re-evaluate energy business models against carbon budgets, to prevent a US$6 trillion carbon (..)
This economic model is designed to increase the human capacity to deal with shocks (climate disasters, supplychain interruptions, etc). The white economy has also been used to describe the digital economy, this definition is attributed to Professor Douglas McWilliams, a British economist who wrote a 2015 book by the same name.
The Global Resilience Index launched today, will help improve the way insurers, financiers and investors measure the resilience of countries, companies and supplychains. The report tracks developments across sectors covering 90% of global emissions in 2015-2021. Apple is a member of Climate Group’s RE100 initiative.
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