Ch. 8 Flashcards
What is the “Race to Zero” campaign?
the intention of mobilizing “real economy” actors, including regions, cities, businesses, and financial institutions, to commit to reducing their carbon emissions to net zero by 2050
What is production-based accounting of emissions?
a country’s emissions are those which directly arise within its geographic boundaries
What is consumption-based accounting of emissions?
the cumulative emissions that arise from the production of all goods and services consumed in that country, regardless of where this production took place
What is the dominant standard for attributing emissions at the country level?
Production-based accounting
What are two different greenhouse gas reporting standards for cities and regions?
BASIC and BASIC+
What do the BASIC level emissions inventories cover?
scope 1 and 2 emissions from stationary energy and transport, as well as scope 1 and 3 emissions from waste
What do the BASIC+ level emissions inventories cover?
all in BASIC, as well as sources such as scope 3 emissions from transboundary transport and scope 1 emissions from agriculture, forestry, and land use
What are transition plans?
important tools with which private-sector actors can operationalize climate action and allow others to verify the credibility of their commitments
What is carbon leakage?
displacing rather than avoiding emissions
What is carbon permanence?
long-term storage of carbon
What risks should be considered in a transition plan?
policy and legal, technology, market, and reputation risk
What is the Credibility Gap?
many governments are currently failing to keep pace with their 2030 interim emissions targets. This undermines the credibility of governments and lessens our chance of staying within the 1.5° or 2°C pathways
How are portfolio alignment tools used?
to assess whether a company is on a net zero path by 2050, or whether it is ahead or behind a benchmark schedule
What is materiality?
a concept coming from financial disclosure, which encourages corporations to report on all activities, opportunities and risks which could be material to the company’s value, turn-over, income, or other key performance indicators
What is double materiality?
materiality plus the notion that companies must also disclose activities which could be material to society and the environment.