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WM is reducing our fleet’s greenhouse gas (GHG) emissions by transitioning our traditional diesel collection fleet to vehicles running on natural gas and increasingly fueling these vehicles with renewable natural gas (RNG) produced at our own landfills.
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Climate-related risks and opportunities are part of Pandora’s Enterprise Risk Management system reporting to the Executive Leadership Team and the Board of Directors. Pandora’s climate and renewable energy targets are governed by the Sustainability Board, which has five members from the Executive Leadership Team.
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Pandora measures its carbon footprint across all three greenhouse gas scopes. Approximately 1% of CO₂ emissions are related to Scope 1, 8% to Scope 2 and 91% to Scope 3. We focus on reducing all three scopes through our climate targets: 1) become carbon neutral in our own operations by 2025, and 2) set a Science Based Target by the end of 2021.
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We believe it is important to have both dedicated in- house ESG expertise, as well as broad-based responsibility for ESG matters across investment teams. Carlyle has a dedicated global team of internal ESG professionals led by Carlyle’s Global Head of Impact, who reports in directly to the firm’s COO. The ESG team works closely with our deal teams and the Global Legal Investment team as they diligence potential investments, and subsequently directly with our majority-owned portfolio companies to drive understanding and adoption of ESG principles and to create tailored value-creation plans. We also work closely with investors and broader stakeholders to drive industry learnings and best practice. As such, our work on climate risks and opportunities are integrated across the responsibilities of Carlyle professionals.
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Another deal we evaluated in the past year had significant potential market and policy risks due to the carbon-intensity of the core business model. We worked with a third-party ESG consultant to conduct on-the-ground diligence of the material ESG risks we identified. As part of that work, we modeled out investment implications under different carbon-pricing scenarios. We also incorporated improved monitoring of greenhouse gas emissions and a more robust approach to reducing those emissions over our hold period as part of our investment thesis, as we believe this would position us for a stronger exit.
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INDIVIDUAL INVESTMENTS For individual investments, we use the Sustainability Accounting Standards Board (SASB) framework to guide our diligence of material issues. Our investment teams lead this diligence, in partnership with our dedicated in- house ESG team. We furthermore bring in specialized ESG third-parties on specific diligence items, where needed. Our diligence of individual investment opportunities has increasingly included climate-related risks and opportunities, where material. As mentioned above, potential investments with a higher level of perceived ESG risk are elevated to our ESG Review Committee, which provides a recommendation as to whether the firm can proceed with an investment or not.
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OUR OWN OPERATIONS 2019 was Carlyle’s third year of carbon neutrality across our 32 global offices and the activities of our more than 1,750 employees, after we became the first major private equity firm to make a carbon neutrality commitment in 2017. Using the World Resources Institute’s Greenhouse Gas Protocol (GHGP), we focused on the material sources of emissions for our firm across Scopes 1-3: office utilities, offsite data centers, commercial and private air travel, and employee commuting. In 2019 we emitted 19,576 metric tonnes of carbon dioxide equivalent across those categories, detailed in the table on the next page. As in prior years, we offset our emissions by purchasing carbon offsets in truck stop electrification projects in the US through The Carbon Fund, which were verified by the American Carbon Registry. Our carbon footprint was assured by Apex Companies.
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We normalized emissions to portfolio company revenue to arrive at a carbon intensity of metric tons (MT) CO2e per million dollars of revenue. By using an intensity-based metric rather than an absolute-based metric, we are able to better account for the difference in size and operations across portfolio companies.
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As a global company, we have a role and responsibility that extends even beyond the world of health. We are making progress to minimize our environmental impact and maintain resilient global operations by continuing to reduce greenhouse gas emissions —down 48% since 2008— and water consumption. We remain committed to reducing waste and increasing the use of renewable energy in alignment with our bold new sustainability goals for 2030.
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AGL Macquarie has some of the most secure water in the Hunter Valley. Under the Hunter Valley water sharing plan, the major utility licences have the highest security. This security level is shared with basic stock and land holder rights, major utility (town domestic supply), and environmental water.
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Paper BlackRock set a 2020 paper reduction target of 25% in October 2017. As of year-end 2019, BlackRock has reduced paper use globally by 44%. We attribute this reduction to heightening of employee awareness, swipe technology, and standard double-sided print settings on all copiers.
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Hydraulic Fracturing Hydraulic fracturing, commonly referred to as fracking, is an oil and gas well development technique, using a high pressure injection of liquid into the rock, which creates fracturing and allows natural gas and oil to flow more freely. Whilst this method of extraction has provided cheaper, more plentiful energy sources for many, it is also a sensitive sector that is of concern for many stakeholders. Impact areas include water consumption and quality, wastewater disposal, air emissions and impacts on local communities, including noise, traffic and seismic changes. Our appetite for doing business with this industry is as follows:
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4 Investec is removing all refrigerants that have ozone depletion potential and continues to explore alternative options to minimise global warming potential. Installation refinements have also reduced refrigerant leaks resulting in reduced consumption.
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As part of the 'WasteReloaded' campaign, the 'RiVending' project was launched (see Versalis Revive on p. 26) to recycle the cups and stirrers used in beverage machines in the head offices in San Donato Milanese, to produce a secondary selected polystyrene raw material that helps to supply the Versalis plant in Mantua.
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A4S Support S&P Global's CFO, Ewout Steenbergen, is a member of the Accounting for Sustainability (A4S). A4S was established by HRH The Prince of Wales and aims to inspire action by finance leaders to drive a fundamental shift toward resilient business models and a sustainable economy.
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IEnvA is the airline industry version of Strategic direction, approvals, guidance, challenge Proposals, updates ISO 14001 (the international standard for environmental management systems) tailored specifically for airlines and is fully compatible with the International Organisation for Standardisation (ISO).
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By mid-2021, PSEG Power will have retired or exited through sales more than 2,400 megawatts (MW) of coal-fired generating capacity since 2017. This will mark the completion of PSEG Power's coal exit strategy, which began in 2016. In June 2017, PSEG Power retired the Hudson and Mercer coal-fired generating stations. These were our last coal plants operating in
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KINCARDINE: Financing for the construction and operation of a 50MW wind farm located in Scotland in which the sponsor is Cobra (ACS Group) and where BBVA has participated as one of the three leading banks. Kincardine is one of the world's first offshore floating wind farms and is a sign of BBVA's support for new sustainable technologies.
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This consulting service is free of charge and includes the following three options to meet differing needs in light of the areas of customers' interest. - Assistance in implementing supply chain risk countermeasures - Assistance in executing a mapping method aimed at clarifying relation- ships between customer business- es and Sustainable Development Goals - Assistance in facilitating an SDG- oriented corporate culture
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We have performed targeted intercept and development work around the Condamine River, including drilling specifically designed wells for these seeps. Recent measurements show that these wells have helped us capture the methane emissions before they reach the surface and that the Condamine River seeps have generally decreased since they peaked during 2016.
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The 2017 Global Real Estate Sustainability Bench- mark (GRESB) awarded ten of UBS Asset Management's real estate and infrastructure funds 5-star ratings, and seven funds ranked first in their respective peer groups.
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AGL Macquarie is working with WaterNSW to add to its model of the Hunter River regulated system to improve and provide greater clarity of our operation and operational impact on the system.
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As for the long-term incentives, vesting is a function for 20% to Corporate Social Responsibility targets. - 10% is based on SG's positioning within RobecoSAM (in the 1st quartile), Sustainalytics (in the 1st quartile) and MSCI (Rating = BBB); - and 10% based on the achievement of SG's commitments in terms of financing the energy transition (100% vesting if the target is achieved in 2023. If the target is not met, there will be no vesting).
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We have reduced our energy consumption per tonne of clinker to 3,518 megajoules in 2018 (1990: 4,532 megajoules), among the lowest rates in the sector. Since 1990, we have increased our cement production by around 79 percent, while our annual energy consumption has increased by just 18 percent.
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10 Representative Concentration Pathways (RCP) scenarios are named based on the hypothetical radiative forcing level (the portion of energy transmitted to the earth that is trapped within its atmosphere) of the earth at the end of the century.
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By means of the Ekos Social platform, built in partnership with the Ekos Brazil Institute, it is possible to learn about the participating projects and pick the project of your choice for the purchase of carbon credits.
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Scentre Group has a Responsible Business Group, comprised of members of the Executive Team and subject matter experts that are leading initiatives as part of our Sustainable Business Framework. Membership reflects accountability for the delivery of initiatives that contribute to our primary environmental target of Net Zero Emissions by 2030.
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ISO 14001 (the international standard for environmental management systems) tailored specifically for airlines and is fully compatible with the International Organisation for Standardisation (ISO). British Airways achieved Stage 1 certification in 2019 and all other Group airlines are progressing on Stage 1 certification in 2020.
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Mountain Top Removal Coal Mining Mountain Top Removal (MTR) coal mining refers to surface coal mining (and the associated reclamation operations) that remove entire coal seams running through the upper fraction of a mountain, ridge, or hill, by removing all of the overburden and creating a level plateau or gently rolling contour with no high-walls remaining.1 Barclays recognises that MTR in the Appalachian region of the USA is a legal mining method, overseen by a robust regulatory framework.
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The alignment degree of an asset or client is calculated using a specific indicator for each activity. In some sectors the indicator focuses on measuring technology substitution (for example, the generation mix in the power generation sector), while in other industries, without a mature technological alternative, the indicator focuses on capturing improvements in production processes (for example, the emissions intensity in the cement sector).
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Asset owners should describe how they consider the positioning of their portfolio with respect to the transition to a lower carbon energy supply production and use. This could include explaining how asset owners actively manage their portfolio's positioning relative to this transition.
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With this in mind, the Resona Group helps its individual and SME customers, first to expand their knowledge of social issues, including climate change, and then encouraging them to join efforts to resolve such issues. The Group also helps customers identify latent related issues in order to resolve their anxiety about the future. Our service lineup is designed to deal with varying customer needs arising from these actions.
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Maersk's proactive engagement with customers, inves- tors and lenders in relation to framework conditions for shipping is also part of managing the risk of encountering first mover disadvantages. New net-zero fuels will likely be more expensive than the current fuels, so for Maersk's vision of commercially viable net-zero vessels to be ready in 2030, it is crucial to get the right framework conditions in place. This is something Maersk both monitors closely and works proactively to ensure.
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The attribution of the portion of annual variable pay tied to Corporate Social Responsibility criteria is based on a multi-criteria measurement founded on a holistic approach to the environmental, civic and social external initiatives undertaken by BNP Paribas.
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Capital Dynamics is a global private asset manager headquartered in Zug, Switzerland. Our history dates back to 19882 and we currently oversee more than USD 16 billion in assets under management and advisement3 across our private equity, private credit and clean energy infrastructure platforms.
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Policy For palm oil plantation development projects, whether they have been certified by the Roundtable on Sustainable Palm Oil (RSPO), which is given for palm oil produced with environmental and social consideration, or by an equivalent certifying body is confirmed. Support is only provided after confirming that forest resources and biodiversity are protected when new plantations are developed and that there are no human rights violations, such as child labor. For those customers that have not yet been certified, obtaining certification is encouraged and supported.
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Arctic Oil and Gas Arctic oil and gas refers to new exploration and extraction of oil and gas in the area within the Arctic Circle which is subject to sea ice, and includes the Arctic National Wildlife Refuge (ANWR) and the Coastal Plains2 .
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However, based on the best available knowledge, Iberdrola's strong adaptive ability can be affirmed, which is due to, among other factors, the strong diversification of assets, proven capacity and experience over the years, and the consideration of climate change as a manageable risk, which means that new investments are made over more resilient assets.
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Of the 28 trade associations assessed, 25 are aligned with Eni position on climate policies, two (Methanol Institute and National Biodiesel Board) are partially aligned and one (American Fuel and Petrochemical Manufacturers) is not aligned.
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Thermal coal has been excluded from this analysis, given that MC sold all of its thermal coal interests as the result of a review conducted from the perspective of strengthening its business portfolio.
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Shale oil and shale gas During shale oil and shale gas development, the use of hydraulic fracturing methods is assumed to cause groundwater contamination and induce earthquakes.Whether appropriate mitigation measures have been implemented for these issues is carefullymonitored, and environmental and social risk assessments are conducted when considering lending.
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Air Pollution Measures: Expanded Verification Tests in California Freight trucks currently operate in coastal areas of the United States, releasing significant amount of carcinogens, diesel particulate matters (DPM) and other pollutants and causing serious problems for communities in the vicinity of the Port of Long Beach and Port of Los Angeles. To solve these problems, we conducted verification tests toward the practical use of heavy-duty commercial fuel cell (FC) electric trucks. Toyota is working with various partners to improve the global atmospheric environments by expanding the use of hydrogen.
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Origin has a robust risk-based inspection and infrastructure integrity program that is designed to manage venting and minimise leaks. It includes an annual maintenance program for wellheads and surface facilities, and testing of pipework and vessels. We continue to focus on our gas monitoring program, aiming to reduce our reliance on regulatory emission factors. This monitoring data also informs decisions about whether to retrofit or change the design of new infrastructure to reduce emissions.
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5.1.6 Commitment to monitor emissions from shipping finance Societe Generale is one of the founding signatories to the Poseidon Principles in collaboration with the Global Maritime Forum, and in league with a significant number of the shipping industry's leading banks.
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Weather-related catastrophes: insured vs uninsured losses There is a substantial protection gap between total economic losses from weather-related catastrophes and insured losses in all regions. This data does not represent a company-specific metric but is an important overall risk indicator (see upper right table on page 165).
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Investec group including Investec Asset Management (now Ninety One) Includes permanent and temporary employees Addressing climate change risks within our business (ESG risks) Investec supports international best practice regarding the responsibilities of the financial sector in financing and investing transactions.
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The tool does this by tracking the generation technology capacity mix for the power companies that we lend to, as well as for forecasts of the change in that mix at those companies over the near-term.
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Shimizu launched the company-wide, cross-organizational Task Force on Climate-related Financial Disclosures Working Group to extract and categorize the risks and oppor- tunities presented by these transitions and physical changes as impacts on each level: procurement, direct operations, and product demand.
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Why is strong governance important to how we manage environmental risks and opportunities? Bharat: Anchored in our purpose to enrich the lives of our customers, communities and colleagues, strong governance is the cornerstone of long-term responsible growth.
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Percentage of 'Ultra Supercritical, GCC' in Existing Coal-Fired Thermal Power Plants Approximately 60% of existing loan balances for coalfired thermal power plants are highly-efficient, ultra-supercritical power plants or gas-turbine combined-cycle (GCC) power plants, which emit relatively less Carbon dioxide than conventional power plants.
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RUSAL's carbon footprint is one of the lowest in the world, owing to the Company's long-term strategy of fostering a responsible attitude towards climate change. The Company plans to continue work in this area, primarily by increasing the share of products with a minimum carbon footprint in our portfolio. This is the future - not only for the aluminium industry, but for the entire global industry. In 2019, specific greenhouse gas emissions reached 9,711 tonnes of CO
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Barclays recognises that MTR in the Appalachian region of the USA is a legal mining method, overseen by a robust regulatory framework. MTR has also, however, been subject to intense political, judicial and regulatory debate over the last decade, due to its negative environmental and social impacts on one hand, and positive local benefits on the other.
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The carbon footprint of the hour of a digital branch manager is 26% lower than that of the physical branch due to their increased service capacity. This shows an efficiency gain in terms of Greenhouse gas emissions by the digital branches.
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For an airline, fuel right-sizing can largely be seen as a capital allocation strategy. We have a consistent strategy of investing in fuel-saving new airframes and engines, which are the largest factors in fuel consumption. In 2018, we made two major announcements related to fuel burn: A220s and New Engine Options. More information on these can be found on page 23.
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The eight companies that were divested from June 2018 are shown in appendix C. This is an ongoing process as companies divested from the fund could be repurchased if they improve, and other companies divested if they do not deliver on their sustainability plans.
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MN has various units of measurement and objectives that relate to climate risks and opportunities, and reports on these in regular reports.Units of measurement used MN maps out climate risks and opportunities in the portfolios using the units of measurement below.
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Energy efficiency Cement production is an energy-intensive process. Energy costs and security of supply are key business drivers. Improving our energy efficiency reduces the carbon intensity of our products and lowers our production costs.
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Since its approval in 1996, PSEG has adhered to a corporate EHS policy, which reflects the principles according to which PSEG operates in eight areas: - Associate health and safety - Nuclear safety - Climate change - Pollution prevention and resource conservation - Environmental compliance - Risk reduction - Open communication - Continuous improvement Employees at PSEG support its implementation through a collaborative effort across various lines of our business.
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As a result, the following training has been carried out: BBVA'S SUSTAINABILITY STANDARDS COURSE with corporate relationship managers AD-HOC TRAINING for employees of the business segments Sustainability training at BBVA is an ongoing effort.
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Monitoring and studies During the year, we continued the Picarro 'sniffer truck' infrastructure survey operations and fugitive emission research with CSIRO. The sniffer truck survey covers all our operating wells and gathering lines at least twice during the year. We use the data from the sniffer truck inspections to establish site specific factors for emission determination, instead of the default factors prescribed by NGER, to enable more accurate measurement of our emissions.
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So far, those analyses have concluded that even in the 2 C Scenario, MC's fossil-fuel operations will remain com- petitive, and that the Company will remain resilient over the medium to long term due to its initiatives in other businesses where future market growth is anticipated owing to the spread of renewable energy and other businesses associated with the tran- sition to a low-carbon society.
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- We participated in launching Align17 - a WEF Young Global Leaders initiative - an independent platform which stands out in connecting a wider range of public, institutional, and private wealth investors with investment opportunities related to the Sustainable Development Goals.
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48 National Australia Bank sold, frequency of accidents, and the share of renewable energies in Coriance's production mix. - Acting as a Joint Lead Agent & Environmental, Social, and Governance Structuring Agent on the Sydney Airport's A$100 million 20-year U.S. private placement (USPP) ESG-linked tranche. This sustainability-linked USPP is an Australian and world first. It creates a link between the Airport's sustainability performance and funding costs, with a potential margin benefit for improvement in sustainability performance and a margin penalty for a deterioration in sustainability performance. - BNZ acted as a Joint Lead Manager on the Kainga Ora (Housing NZ) 15-year NZ$500 million WellBeing bond. At the time of issuance, this was New Zealand's longest tenor and largest Sustainability Bond. Its proceeds are earmarked for green buildings and affordable housing. - BNZ acted as a Joint Lead Manager on Auckland Council's 30-year NZ$500 million green bond. At the time of issuance, this was the longest bond in the New Zealand market and was also a record size and tenor for the green bond category. Proceeds are earmarked towards projects which benefit the environment, such as efficient buildings, waste management, and low carbon transport. - BNZ was also a Joint Lead Manager on Mercury Energy's inaugural green bond in 2020, which raised NZ$200 million primarily earmarked for financing the construction of the Turitea wind farm. - BNZ joined a collaborative initiative coordinated by the Sustainable Business Network in New Zealand and involving government agencies and corporates to develop a climate action tool kit for SMEs(1). The climate action toolkit will support BNZ to meet its target to have 50% of BNZ SME customers measuring and reporting on their emissions footprint by 2025.
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As a result, we have not faced any new claims from climate-related litigation in recent years and the results of the litigation, which have remained in favour of the defendants, suggest that this trend will likely continue, but warrants continued monitoring.
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Absolute coal threshold Coal assets are particularly carbon-intensive and susceptible to stranded asset risk given the long life of these assets, as well as the evolving regulations on carbon emissions. To ensure we actively manage such risks, we implemented an absolute coal threshold to identify large carbon emitters with a diversified business mix, where relative thresholds may provide inadequate guidance. Our willingness to tackle climate change challenges is reflected in our new, 2019 commitment to not invest in mining companies producing at least 20 million tonnes of coal per year and power utility generators with more than 10 gigawatts of installed coal fire capacity.
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We provide training on Environmental, Social, and Governance risks and opportunities to staff through our credit college and have an Environmental, Social, and Governance guideline handbook that is available to assist all staff in assessing Environmental, Social, and Governance matters.
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He has worked for the French Environment Ministry, for a major-league energy firm (with positions as head of the R&D program on alternative fuels, head of the environment department in an oil & gas refinery, sustainable deve- lopment leader for new energies and head of low-carbon products and services), and headed up the energy transition activity of an advisory firm; - Astrid Behaghel has 14 years' experience as an electrical engineer in the energy sec- tor managing international projects; - Sophie Demartini has 14 years' experience in public-private partnerships and renewable energy project financing.
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Management Management, like all employees at CN, are responsible for upstream and operations cost control, including energy efficiency, and are educated on energy management best practices through our EcoConnexions employee engagement program. Management at CN works collaboratively across the value chain to support sustainable production and consumption. Our employees are highly engaged in working together to optimize materials and minimize waste in our operations, which is also reflected by the inclusion of emissions and energy efficiency strategy performance indicators in their EPS objectives.
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Some entities, such as BNP Paribas Fortis, have also decided to use the game as a climate talking point with their clients, while others are using it inhouse to raise employee awareness.
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5.2.2 Insurance Risk Management To control climate risks in insurance products, Ping An has developed insurance risk management mechanism and a scientific and consistent insurance risk management system within the Group.
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The program includes a toolkit and business processes that help to build the capability within our various functions involved in product innovation to understand the environmental and climate impacts of product design, and to make sustainable choices.
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Investec supports international best practices regarding the responsibilities of the financial sector in financing and investing transactions. Social, environmental and ethical risk considerations are implicit in our values, culture and code of conduct and are applied as part of our Environmental, Social, and Governance risk framework.
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Deforestation Policy For projects which involve deforestation, support is provided after confirming that illegal logging and incineration are not carried out and the laws and regulations of each country are observed.For large-scale projects, environmental impacts, such as the destruction of primeval forests and ecosystems, are evaluated in accordance with the Equator Principles when considering lending.
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We have initiatives in place to optimize road transport operations. With our in-vehicle monitoring systems (IVMSs), we monitor critical aspects of driver behavior such as speeding, harsh acceleration and braking, and excessive cornering. In Europe, the IVMS is complemented with a load optimization initiative that aims to minimize and, when possible, avoid empty trips. These measures not only have a significant impact on reducing fuel consumption, but also improve our road safety performance and customer service.
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With regards to opportunities, decarbonising the global economy is likely to require a world that is more interconnected, digitised and decentralised, providing Telstra the opportunity to develop new solutions for customers and to support emerging industries.
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Investec plc banking book The mix of the energy portfolio in our Investec plc banking book reflects the trajectory of the energy transition in developed countries. We have a global power and infrastructure business operating across the UK, Europe, the United States and Australia with a deliberate focus on financing solutions that promote renewable and clean energy.
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Our review did not find any significant differences in formal positions on climate change policy between Origin and key industry associations. It is pleasing that the BCA and APPEA are currently undertaking a review of their positions on climate change policy, in part because members such as Origin have pushed for greater ambition and clarity on climate change action. We are taking an active role in the working groups for both organisations' climate change policy reviews.
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5. Asset owners should describe metrics used to assess climate-related risks and opportunities in each fund or investment strategy. Where relevant, asset owners should also describe how these metrics have changed over time. Where appropriate, asset owners should pro- vide metrics considered in investment decisions and monitoring.
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Currently, we have more than 100 EV charging ports installed at office locations for employee use; over 50,000 bank employees work at buildings with EV charging stations,13F 14 with more installations planned in 2020.
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The level of inclusion and control of RI, and by extension climate change factors, will vary by platform. Provided below is a high level look through into each platform's strategy.
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Clean Energy Infrastructure Our Clean Energy Infrastructure team works closely with Arevon Asset Management, our dedicated asset management group that is fully integrated with our Clean Energy Infrastructure investment platform and that helps oversee risk management and performance optimization functions related to our renewable energy and battery storage projects.
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In September 2018, together with Index Initiative and the United Nations Foundation, we launched the World Benchmarking Alliance (WBA) on the eve of the General Debate of the 73rd session of the United Nations (UN) General Assembly. The WBA publishes free and transparent benchmarks ranking companies on contributions towards achieving the UN Sustainable Development Goals (SDGs). The aim is to increase transparency and accountability for businesses in relation to the Sustainable Development Goals as well as empower consumers, investors, governments and civil society organisations by providing them with free and publicly available data that shows a company's Sustainable Development Goal performance, which they can use when deciding where to spend their money, allocate their investments or direct their policy and advocacy efforts. The WBA will develop a range of corporate benchmarks by 2023 to comprehensively assess the progress of 2,000 companies across major areas of transformation required to achieve the SDGs. The first set of benchmarks will be published in 2020 and will address food and agriculture, climate and energy, digital inclusion and gender equality and empowerment.
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- BNZ was also a Joint Lead Manager on Mercury Energy's inaugural green bond in 2020, which raised NZ$200 million primarily earmarked for nancing the construction of the Turitea wind farm.
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In addition to the physical and transition risks, the solutions produced and distributed by Saint-Gobain also contribute to reducing Carbon dioxide emissions, in particular thermal insulation solutions that promote energy efficiency (see Chapter 3, Section 4.1.1).
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Asset Owners should describe metrics used to assess climate-related risks and opportunities in each fund or investment strategy. Where relevant, asset owners should also describe how these metrics have changed over time.
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Export market growth Changing policies in existing and future markets may impact growth due to the introduction and/or expansion of trading taxes, barriers on high emissions and water intensive products, and bans on non-recyclable packaging.
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Bank is a founding member of the NGFS. The Network was co-founded by eight central banks and supervisors in December 2017. As of April 2020, membership has grown to over 65 members and 12 observers representing countries responsible for approximately 60% of global carbon emissions. Through the NGFS, the
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We are therefore focusing on sustainably sourcing major commodities like palm oil and cane sugar, as well as partnering and collaborating with suppliers, peers, and other stakeholders to implement and influence better practices on-farm.
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Over the past few years, we have taken steps to facilitate a shift towards improved access to public transport for employees (buses, commuter trains) and carpooling. Our carpooling initiative now has over 1 Lakh registered users across locations. Around 22.7 Million kms of rides were shared in the reporting year saving 4900 tons of CO
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In addition to providing the facility with steam needed for operations, the cogeneration units may export an additional 800 megawatts (MW) of electricity to the provincial grid, equivalent to roughly 7% of Alberta's current electricity demand, and reduce emissions by approximately 2.5Mt/y, equivalent to displacing 550,000 cars from the road.
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Optus has been proactive through ABR on research and policy influence on government, given the major interdependencies on policy and funding. We also actively monitor and engage in the regulatory development relating to reporting and carbon emission taxes. In Australia, Optus provides annual comprehensive energy reporting to the National Green Energy Regulator (NGER).
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However, compared with large corporations, SMEs are typi- cally in a disadvantageous position. For example, they have few opportunities to study about how climate change and other social issues may impact their operations while lacking sufficient resources to plan and execute countermeasures.
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We calculated that credit costs on mortgage loans at SuMi TRUST Bank would increase by around $7.0 billion by the year 2100 compared to the end of March 2020 based on the probability of floods occurring and the rate of change in property value caused by flood damage in each scenario.
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Of these scenarios, 'Autonomy' is the scenario we consider best represents the technology and policy context that would be essential to meet the aspiration of limiting cumulative emissions to 450 ppm.
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Supporting our agribusiness customers Last year, we undertook climate scenario analysis to beer understand the potential impacts that a changing climate may have on farm productivity and the long-term outlook for the sector. Separately, we have also used historical industry data to map productivity levels for regions in Australia for the grains, livestock and dairy sectors. A closer focus on productivity levels across these three sectors and regions helps us understand and beer support individual customers' needs and circumstances. We used these insights to guide our approach to agribusiness lending for these sectors, to help our customers manage sustainability through agricultural cycles.
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Review Process We review the environmental materiality once every five years at the timing of the formulation of the five-year action plan. If there are any major shifts in society or Toyota, we will conduct flexible reviews regardless of the regular interval.
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The members of the Student Manifesto called on the Group, at the annual EpE dinner held on 18 March 2019, to lead an ecological awakening, asking the EpE business leaders attending the event to 'communicate that (they) need students who have taken classes addressing ecological issues included in their general course requirements before they choose their specialisation.' Jean-Laurent Bonnafe met this call by sending a letter to the headmasters of ten leading French universities from which BNP Paribas recruits many of its employees.
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A group of 80 employees, from all Group bu- siness lines and regions (many working di- rectly with major BNP Paribas clients), was created to share best practices Groupwide with the aim of seizing on as many energy transition opportunities as possible together.
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From July 2023, we will no longer provide individual insurance cover for those oil and gas companies that are responsible for the world's 10% most carbon intensive oil and gas production.
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Screening Process for Loan and Investment Proposals When reviewing and making decisions on loan and investment proposals, MC has adopted a process in which the Investment Committee deliberates all proposals to be discussed by the Board of Directors and the Executive Committee comprehensively based not only on economic aspects, but on Environmental, Social, and Governance factors as well.
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