Iimagine traveling to an unknown destination, with no map or GPS, or a scientist with no data to validate his experiments.
In both cases there is the will but not the means to succeed: without reliable and relevant information, both the traveler and the scientist risk failure. Tautological? However, in the fight against climate change, this is the problem companies face in setting their “net zero” carbon emissions targets. This needs to change.
Consider a fictional company that would seek to significantly reduce its greenhouse gas emissions by 2030. It would have stakes in an automobile manufacturer, a clothing brand, a hospital chain and a food delivery application, as well as in many other companies.
Its total emissions would include those of its own activities, such as office heating and cooling, but also the emissions of all companies it has owned and invested in, including those of their supply chains, and their impact on customers and customers. citizens.
However, at present, this company has no standardized means of knowing these emissions other than those resulting from its direct business.
Around the world, a growing number of companies and investors have made bold commitments to reduce their emissions. More than five hundred financial firms have joined the Glasgow Financial Alliance for Net Zero (GFANZ) and undertake to achieve zero net greenhouse gas emissions for all their portfolios. The only problem: they don’t know how to get there because the information and data needed to guide them are not available globally. They will soon be.
To the COP27 in Sharm El-Sheikh (Egypt), the Steering Committee on Climate Data, a international initiative launched with the French government in June, it will release its recommendations for a new platform that will make corporate broadcasts publicly available for the first time. This data will allow companies to chart their roadmaps to meet their net zero goals and provide the public with the data to account for them.
We are convinced: climate data must be produced and used as a common good. In the absence of climate data, financial markets and environmental planning cannot function properly, as the risks of some investments and the benefits of others are obscured.
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