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GARP SCR Exam > Chapter 8 > Flashcards

Chapter 8 Flashcards

1
Q

To stabilize global temperatures

A

total ghg emissions need to reach net zero (ghg emissions are balanced by corresponding ghg removal)

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2
Q

2021 glasglow climate pact

A

recognized 1.5 Celsius will have much lower climate change impact than with 2 degrees – 1.5 requires sharp reversal in emission trends
– IPCC: emissions would need to peak by 2025 ; decrease by 43% by 2030s and net zero by 2050

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3
Q

UN race to net zero

A

plays crucial role - is an umbrella framework of parter initiative (which either have sectoral or focus or particular type of entity) –> businesses, cities, FI, etc.

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4
Q

How to join UN race to net zero

A

need to meet set of globally defined criteria as well as make specific commitments

although these commitments are not of the same caliber: individual commitments differ widely among important dimensions (NZ target year, legal commitments, scope of emissions included in pledge, extent organizations have presented robust and credible implementation plans)

at national elvel: countries have pledged at different speeds (sweden: carbon netrual by 2045, china, 2060 and india 2070)

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5
Q

Different legal commitemtns for UN race to net zero

A

UK and Germany: embedded in law (only case for around 10% countries)
43% countries (US included) - have made non-legally binding commitements (non legally binding policy documents)
20%: pledged only by public statement made by key officials

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6
Q

Production based accounting method

A

usually assigned on a territorial, production based accounting method - country’s emissions are those which directly arise within geographic boundary (meaning a country would aim to decrease all domestic GHG emissions and remove any net flows from remaining sources via C sinks) –> is a controversial approach:

Placing emphasis on countries where emissions are produced brings too little accountability to consumption patterns that drive emissions

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7
Q

Consumption based accounting method

A

measures cumulative emissions that arise from production of all goods and services consumed in that country - regardless of where production took place

ex: Switzerland
production based - 4.3 emission/capita
consumption based - 13.5 emission/capita

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8
Q

GHG protocol has developed 2 different reporting standards for cities and regions

A
  1. BASIC
  2. BASIC +
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9
Q

BASIC

A
  1. covers scope 1 and 2 from stationary E and transport
  2. scope 1 and 3 emissions from waste
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10
Q

BASIC +

A

more detailed and complex

  1. scope 3 from transboundary transport
  2. scope 1 from agriculture, forestry, land use
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11
Q

SBTi guidance for F sector

A

Science Based Target’s Initiative

  1. Sectoral Decarbonization approach
  2. SBTi portfolio coverage
  3. Temperature Rating Approach
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12
Q

Sectoral Decarbonization approach

A

Define emissions-based physical intensity targets for investments and loans in a defined list of emissions-intensive sectors (Ex: cement, buildings, paper)

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13
Q

SBTi portfolio coverage

A

work towards ensuring that increase proportion investees in their portfolios have committed to their own targets - FI should reach portfolio coverage of 100% by 2040 to keep PA

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14
Q

Temperature rating approach

A

assess current temperature rating of portfolio and align it with ambitious long-term temperature targets by engaging with portfolio companies

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15
Q

Transition Plan

A

strategy documents that outline targets and actions that will facilitate transition of organization to NZ and allow it to measure and report on progress (relatively new idea)

In oct 2021, TCFD published high level guidance

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16
Q

TCFD guidance for transition plans

A

transition plan should
1. align with corporate strategy
2. anchor in quantitative metrics and targets
3. subject to effective governance process
4. full of actionable, specific initiatives
5. credible
6. periodically reviewed and updated
7. reported annually to stakeholders

17
Q

NZ targets to provide meaningful framework (firm UN; high-level expert group)

A
  1. front loaded emission reduction
  2. comprehensive approach to emissions reduction
  3. cautious use of CO2 removal
  4. effective regulation of C offsets
  5. equitable transition to NZ
  6. alignment with roader socio-ecological objectives
  7. pursuit of economic opportunities
18
Q

NZ aligned Carbon offsetting principles

A
  1. cut emissions, use high quality offsets (revise & evolve)
  2. shift to C removal offsetting
  3. shift to long-live storage
  4. support development of NZ aligned offsetting
19
Q

10 key elements of NZ target setting for countries

A

Scope:
1. target year
2. emissions coverage
3. international aviation and shipping
4. reductions or removal outside of own borders

Architecture
5. legal status
6. separate reduction and removal targets
7. review process

Transparency
8. CO2 removal
9. comprehensive planning
10. clarity on fairness of target

20
Q

TCFD recommends disclosing climate related metrics to cover 3 topics

A
  1. disclose metrics used to assess climate related risks and opportunities in line with strategy and risk management process
  2. disclose scope 1,2,3
  3. describe targets used to manage climate risks and opportunities and performance against targets
21
Q

GHG metrics examples

A
  1. Scope 1,2,3
  2. emissions by asset class
  3. emissions / MWH electricity produced
22
Q

TR metrics examples

A
  1. concentration of credit exposure to C assets
  2. % revenue from coal mining
23
Q

PR metrics examples

A
  1. proportion real assets exposed to climate hazards
  2. revenue associated with water withdrawn and consumed in regions with water stress
24
Q

Climate opportunities metrics examples

A
  1. number of zero emission vehicles sold
25
Q

capital deployment metrics examples

A

invest in adaptation measures (ex: flood defense)

26
Q

Internal C price metrics examples

A

internal company tax on emissions invested in S projects

27
Q

Remuneration metrics examples

A

portion of employee bonus linked to cilmate goals

28
Q

Key leaders in reporting

A

tcfd and issb

29
Q

TCFD

A

improve and increase reporting SF Climate Financial info by developing disclosure recommendationsS

30
Q

SASB

A

identify subset of ESG issues most relevant to F performance in each of 77 industries and create disclosure standards around them

31
Q

ISSB

A

deliver comprehensive global baseline of S related disclosure standards

32
Q

GRI

A

impact reporting; deliver highest level of transparency for org impacts on economy; environmetn and people

33
Q

SASB principles

A

Industry-Specific: SASB provides guidelines tailored to different industries, recognizing that sustainability issues can vary greatly depending on the type of business.

Materiality: SASB focuses on the most important sustainability issues (material issues) for each industry, so companies report on what matters most to their stakeholders.

Comparable: SASB aims to make sustainability data comparable across companies in the same industry, allowing investors and others to assess performance consistently.

Decision-Relevant: The information companies report following SASB principles should be useful for making informed decisions, especially for investors assessing the long-term financial health of a company.

Disclosure: SASB encourages companies to disclose specific quantitative and qualitative information about their sustainability performance, making it transparent to stakeholders.

In simple terms, SASB principles help companies report on the sustainability issues that are most relevant to their industry, making it easier for investors and others to understand and compare their performance in a meaningful way.

34
Q

Shadow Carbon

A

A shadow carbon price uses an estimate of the cost of carbon to aid in project selection. Using this metric, a company may decide to select one project over a rival project with a higher carbon intensity

GARP SCR Exam (8 decks)

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