COUNTDOWN CARBON BRIEFING 101: TO COP26 - Gong Communications

Page created by Frank Murphy
 
CONTINUE READING
COUNTDOWN CARBON BRIEFING 101: TO COP26 - Gong Communications
CARBON BRIEFING 101:

COUNTDOWN
 TO COP26
COUNTDOWN CARBON BRIEFING 101: TO COP26 - Gong Communications
THERE ARE 4 MONTHS
TO GO UNTIL COP26 —

BUT WHAT
IS IT?
                            This event builds on the promises undertaken       updated plan that would reflect their highest
                            at COP21 (officially known as the ‘21st            possible ambition at that time.
     The UK will host the   Conference of the Parties’), which took place
                            in Paris in 2015. As part of the resulting Paris   2020 marked the first of these five year cycles,
 26th annual UN Climate     Agreement, 196 countries agreed to work            but was delayed due to the covid pandemic.
  Change Conference of      together to limit global warming to below          This means that countries are expected to
                                                                               update their 2030 targets before they meet in
                            2 degrees and aim for 1.5 degrees. They
   the Parties (known as    committed to bringing forward national plans       Glasgow this year.
  COP26) in Glasgow on      setting out how much they would reduce their
                            emissions – known as Nationally Determined
 1 – 12 November 2021.      Contributions, or ‘NDCs’. They agreed that
                            every five years they would come back with an
COUNTDOWN CARBON BRIEFING 101: TO COP26 - Gong Communications
COP26:

STATISTICS                                                   36  industrialised countries
                                                                 and the European Union,
                                                                 which were set binding
                                                                 emission reduction

         200
                                                                 targets in the first
                                                                 agreement established
                                                                 by the UNFCCC, known
                                                                 as the Kyoto Protocol.
         countries who are
         ‘party’ to the United
         Nations Framework
         Convention (UNFCCC)

                                                                                            68%
         and meet annually
         at the UN climate
         change conference.

                                 1.5˚C                                                      the UK’s Nationally Determined
                                                                                            Contribution (NDC) as stated
                                                                                            on 12 December 2020. The
                                 the global temperature
                                                                                            NDC commits the UK to
                                 rise goal figure cited in the
                                                                                            reducing economy-wide
                                 Inter-governmental Panel
                                                                                            greenhouse gas emissions
                                 on Climate Change (IPCC),
                                                                                            by at least 68% by 2030,
                                 which presents Assessment
                                                                                            compared to 1990 levels.
                                 Reports (AR) every five years
                                 and from which the UNFCCC
                                 takes scientific guidance.
COUNTDOWN CARBON BRIEFING 101: TO COP26 - Gong Communications
A
              The global coalition for net zero emissions is growing, with increasing numbers of companies, financial
              institutions, cities and countries setting targets to reduce emissions to net zero by 2050.

 SNAPSHOT     The Climate Ambition Alliance is the overarching organisation behind the UN-backed ‘Race to Zero’
              campaign. It unites countries, businesses, investors, cities and regions who are working towards
              achieving net zero carbon emissions by 2050. Country engagement in this Alliance is led by the

     OF THE   governments of Chile and the United Kingdom, with support from UN Climate Change and UNDP.

              Meanwhile, mobilization of non-government actors is led by the High-Level Climate Champions for

  WORLD’S     Climate Action – Nigel Topping and Gonzalo Muñoz – again, under the ‘Race to Zero’ campaign.

   BIGGEST    The Climate Ambition Alliance lists the following as the Race to Zero partners:

    HEROES             BUSINESSES
                       Business Ambition for 1.5 C,
                       B Corporation, Business Declars,
                                                                             INVESTORS
                                                                             UN-convened Net-Zero Asset Owner
                                                                             Alliance, Net-Zero Asset Managers

 THAT HAVE             The Climate Pledge, SME Climate Hub,
                       Exponential Roadmap Initiative, Business
                       Declares and Pledge to Net Zero
                                                                             Initiative, and the Paris Aligned
                                                                             Investment Initiative

COMMITTED              CHAMBERS OF COMMERCE
                                                                             REGIONS/STATES
                                                                             Under2Coalition

    TO NET
                       International Chamber of Commerce
                       Chambers Climate Coalition
                                                                             COUNTRY-WIDE
                       CITIES

      ZERO
                                                                             Japan Climate Initiative Race
                       Cities Race to Zero, including C40’s                  to Zero circle
                       Deadline 2020, RED Argentina de
                       Municipos Frente al Cambio Climatico,
                       ICLEI’s Climate Neutrality Framework                  UNIVERSITIES
                                                                             Global Universities and Colleges for
                       SECTORAL INITIATIVES                                  the Climate, Second Nature
                       Health Care Without Harm, Fashion
                       Industry Charter for Climate Action, Water
                       UK, and International Wineries
                       for Climate Action
COUNTDOWN CARBON BRIEFING 101: TO COP26 - Gong Communications
Many financial institutions                                                                                                                                                                                                                                                   2016
are aligning themselves
with the Race to Zero.      2 016
Here is an infographic
overview of the evolution
of the main financial net                                                                       19
                                                                                                   8   9
                                                                                                                                          PR
                                                                                                                                               20
                                                                                                                                                    06
                                                                                                                                                                                     :2
                                                                                                                                                                                        01
                                                                                                                                                                                          2
                                                                                                                                                                                                                                                                 :2
                                                                                                                                                                                                                                                                    01
                                                                                                                                                                                                                                                                      2

zero alliances over the
                                                                                            :
                                                                                         ST                                           A                                         ST                                                                          ST

                                                                                                                                 T:

                                                                                                                                                                            E

                                                                                                                                                                                                                                                   E
                                                                                     E

                                                                                                                                 ES
last five years, according                                                                                 Ceres
                                                                                                                                               Principles for
                                                                                                                                                Responsible
                                                                                                                                                Investment
                                                                                                                                                                                  Global Sustainable
                                                                                                                                                                                 Investment Alliance
                                                                                                                                                                                                                                                              The Institutional
                                                                                                                                                                                                                                                              Investors Group
                                                                                                                                                                                                                                                             On Climate Change
to our own research:                                                                                                                                (PRI)
                                                                                                                                                                                        (GSIA)
                                                                                                                                                                                                                                                                   (IIGCC)

                                                                                                                                                                                                                                         16
                                                                                                                           01
                                                                                                                             5
                                                                                                                                                                      01
                                                                                                                                                                        6                                                              20
                                                                                                                                                                                                                                   P
                                                                                                                        :2                                         :2                                                         SE
                                                                                                                   ST                                         ST                                                          :

Building a global zero emissions economy is a

                                                                                                                                                                                                                     T
                                                                                                               E

                                                                                                                                                          E

                                                                                                                                                                                                                ES
daunting task, but it is one that financial firms                                Partnership for
                                                                                                          Investor Group                                                                                                      Asia Investor Group
are increasingly embracing. Financial Net Zero                                 Carbon Accounting
                                                                                                         On Climate Change                                                                                                    On Climate Change
                                                                                   Financials
Alliances are on the rise, as they band together                                     (PCAF)
                                                                                                               (IGCC)                                                                                                               (AIGCC)

to better address the challenge. Our timeline
infographic, displayed over the following
pages, navigates the web of Financial Net
Zero Alliances, from the initial founders (as
                                   FINANCIAL NET ZERO ALLIANCES
early as 1989-2016) to the intertwined group
of organisations involved today. It gives a
very real sense of the evolving scale of the
                                                                                                                                                                                                                                                                                             201
movement, and increasingly makes the ‘Race
                              Building a global zero emissions economy is a daunting task, but it is one that financial
to Zero’* look like an achievable goal.                                                                                                                                                                                                K E Y:                                     1000+

                                          firms are increasingly embracing. Financial Net Zero Alliances are on the rise, as they
                                                                                                                                                                                                                                       Represents the number                      500–1000
                                          band together to better address the challenge. Our infographic below navigates the web                                                                                                       of members/signatories/
                                          of FinancialbehindNet      Zero Alliances,       from the initial founders (as early as 1989-2016) to the
                                                                                          19                                                                                                                                                                                      100–500
                                                                                        20                                                                                                                                             investors/companies within
*We haven’t included the overarching organisation              the UN-             SE
                                                                                      P
                                                                                 :                                                                                                                                                     each group, as of June 2021
coordinated Race to Zero campaign, theintertwined
                                           Climate Ambition     Alliance,
                                                             group     of organisations involved today. It gives a very real sense of the                                                                             7
                                                                     T

                                                                                                                                                                                                                    01
                                                                    ES

                                                                                                                                                                                                                2                                                                 50–100
in this infographic. Though clearly worthy of note with 3993                                                                                                                                            E   C
                                                                                                                                                                                                                                                                  06
                                          evolving      scale ofand   the movement, and increasingly makes the 'Race to Zero'* look like an                                                          :D                                                     20
                                                                                                                                                                                                 T
                                                                                                                                                                                                                                                       PR
participants, their reach is far beyond pure financial institutions                                                                                                                           ES                                                   A
                                                                                                                                                                                                                                                                                  5–50
                                                                                        Net Zero Asset
therefore outside of the immediate scopeachievable
                                            of this graphic.goal.

                                                                                                                                                                                                                                              T:
                                                                                                                                                                                                                                              ES
                                                                                        Owner Alliance
                                                                             (AOA)
                                                                                                                                                                                                                                                             Principles for
                                                                                                                                                                                                                                                              Responsible
                                                                                                                                                                                                                                                              Investment
COUNTDOWN CARBON BRIEFING 101: TO COP26 - Gong Communications
Carbon Accounting
                                                                                                                                                                 On Climate Change                                                  On Climate Change
                                                                                                                          Financials
                                                                                                                                                                       (IGCC)                                                            (AIGCC)
                                                                                                                            (PCAF)

                                                                                                                                                                                                                                                                                                                          2019
                                                                                                                                                                                                                                                                                                                               2 019

                                                                                                       19
                                                                                                     20
                                                                                                 P
                                                                                            SE
                                                                                        :
                                                                                                                                                                                                                           17

                                                                                   T
                                                                                   ES
                                                                                                                                                                                                                         20
                                                                                                                                                                                                                     C
                                                                                                                                                                                                                 E                                             06
                                                                                                                                                                                                         T    :D                                          20
                                                                                                                                                                                                      ES                                             PR
                                                                                                                                                                                                                                                 A
                                                                                                     Net Zero Asset

                                                                                                                                                                                                                                            T:
                                                                                                                                                                                                                                           ES
                                                                                                     Owner Alliance

What does it mean to be a Net Zero                                                                       (AOA)
                                                                                                                                                                                                                                                          Principles for
                                                                                                                                                                                                                                                           Responsible
company?                                                                                                                                                                                                6
                                                                                                                                                                                                                                                           Investment
                                                                                                                                                                                                                                                               (PRI)                                               9
                                                                                                                                                                                                      01                                                                                                      98
                                                                                                                                                                                                   :2                                                                                                       :1
                                                                                                                                                                                              ST                                                                                                       ST

                                                                                                                                                                                                                                                                                                   E
                                                                                                                                                                                          E
In short, being a Net Zero company                                                              01
                                                                                                  5
                                                                                             :2
means meeting the goal of net zero                                                      ST                                                 SUPPORTED BY                                             Investor Group

                                                                                   E
                                                                                                                                                                                                   On Climate Change                                                                                                   Ceres
carbon emissions – or becoming carbon                                                          Partnership for
                                                                                                                                                                                                         (IGCC)

neutral – by 2050, in order to limit the                                                     Carbon Accounting
                                                                                                 Financials
                                                                                                                                                                                                                                                 Climate Action 100+

global temperature increase to 1.5 degrees                                                         (PCAF)
                                                                                                                                      19                                                                                                                                                      16

Celsius (in line with the Paris Agreement).
                                                                                                                                    20                                                                                               01
                                                                                                                                                                                                                                       2                                                    20
                                                                                                                               AY                                                                                                 :2                                                    P
                                                                                                                                                                                                                                                                                   SE
                                                                                                                           M                                                                                                 ST                                                :

                                                                                                                      T:

                                                                                                                                                                                                                         E
While there is no standardised definition

                                                                                                                                                                                                                                                                          T
                                                                                                                                                                                                                                                                          ES
                                                                                                                      ES
or criteria for use, society is becoming                                                        01
                                                                                                  2                               Paris Aligned
                                                                                                                                                                                                                                 The Institutional
                                                                                                                                                                                                                                 Investors Group
                                                                                                                                                                                                                                                                                   Asia Investor Group
                                                                                             :2                                 Investor Initiative                                                                                                                                On Climate Change
increasingly wary of greenwashing. All of                                               ST                                                                     ESTABLISHED &                                                    On Climate Change                                        (AIGCC)
                                                                                   E

                                                                                                                                                               SUPPORTED BY                                                           (IIGCC)
the financial alliances for net zero listed in
this infographic require their signatories to                                                 Global Sustainable
                                                                                             Investment Alliance
                                                                                                   (GSIA)
be transparent about their goals and to set
science-based targets.
                                                                                                                                                SUPPORTED BY

                             FINANCIAL NET ZERO ALLIANCES
                                                                                                                                                                                                                                                                                                                               SUPPORTED BY

                                                                                  2020
                             Building a global zero emissions economy is a daunting task, but it is one that financial
                             firms are increasingly embracing. Financial Net Zero Alliances are on the rise, as they
                                                                                                                                                                                                                                                 K E Y:                                                                          1000+

                                                                                                                                                                                                                                                 Represents the number                                                           500–1000
                             band together to better address the challenge. Our infographic below navigates the web                                                                                                                              of members/signatories/
                             of Financial Net Zero Alliances, from the initial founders (as early as 1989-2016) to the
                                                                   20
                                                                     19
                                                                                                                                                                                                                                                 investors/companies within                                                      100–500
                                                          SE
                                                               P                                                                                                                                                                                 each group, as of June 2021
                             intertwined group of organisations involved today. It gives a very real sense of the
                                                      :
                                                                                                                                                                                     17                                                                                                                                          50–100
                                                 T
                                                 ES

                                                                                                                                                                                   20
                                                                                                                                                                               C

                             evolving scale of the movement, and increasingly makes the 'Race to Zero'* look like an
                                                                                                                                                                           E                                       06
                                                                                                                                                                    T   :D                                    20
                                                                                                                                                                 ES                                      PR
                                                                                                                                                                                                     A
                                                   Net Zero Asset                                                                                                                                                                                                                                                                5–50
                             achievable goal.
                                                                                                                                                                                              T:
                                                                                                                                                                                          ES
                                                   Owner Alliance
                                                                          (AOA)
                                                                                                                                                                                                               Principles for
                                                                                                                                                                                                                Responsible
                                                                                                                                                                                                                Investment
                                                                                                                                                                 16                                                 (PRI)                                         8   9
                                                                                                                                                               20                                                                                              19
COUNTDOWN CARBON BRIEFING 101: TO COP26 - Gong Communications
SUPPORTED BY

                                                                                     2020                                                                                                                                                                                          2020
                                                                             19
                                                                           20
                                                                       P
                                                                  SE
                                                              :
                                                                                                                                                                                     17

                                                          T
                                                         ES
                                                                                                                                                                                   20
                                                                                                                                                                               C
                                                                                                                                                                           E                                            06
                                                                                                                                                                    T   :D                                         20
                                                                                                                                                                 ES                                           PR
                                                                                                                                                                                                          A
                                                                           Net Zero Asset

                                                                                                                                                                                                     T:
                                                                                                                                                                                                     ES
                                                                           Owner Alliance
                                                                               (AOA)
How many financial companies have set                                                                                                                                                                              Principles for
                                                                                                                                                                                                                    Responsible
net zero targets?                                                                                                                                                  6
                                                                                                                                                                                                                    Investment
                                                                                                                                                                                                                        (PRI)                                          9
                                                                                                                                                                 01                                                                                               98
                                                                                                                                                              :2                                                                                                :1
                                                                                                                                                         ST                                                                                                ST

                                                                                                                                                                                                                                                       E
                                                                                                                                                     E
The good news is that the number of                                :2
                                                                      01
                                                                        5

financial companies that have set new zero                    ST                                                 SUPPORTED BY                                  Investor Group

                                                          E
                                                                                                                                                              On Climate Change                                                                                            Ceres

targets is increasing almost too quickly to                          Partnership for
                                                                                                                                                                    (IGCC)

assign a meaningful number. In September                           Carbon Accounting
                                                                       Financials
                                                                                                                                                                                                          Climate Action 100+

2020, the United Nations Framework                                       (PCAF)
                                                                                                          20
                                                                                                            19                                                                                   2                                                16
                                                                                                                                                                                                                                                20
Convention on Climate Change (UNFCCC)
                                                                                                                                                                                               01
                                                                                                     AY                                                                                     :2                                              P
                                                                                                                                                                                                                                       SE
                                                                                                 M                                                                                     ST                                          :

                                                                                            T:

                                                                                                                                                                                   E

                                                                                                                                                                                                                               T
reported that the number of net-zero

                                                                                                                                                                                                                              ES
                                                                                            ES
commitments from local governments and                             :2
                                                                      01
                                                                        2                               Paris Aligned
                                                                                                      Investor Initiative
                                                                                                                                                                                           The Institutional
                                                                                                                                                                                           Investors Group
                                                                                                                                                                                                                                       Asia Investor Group
                                                                                                                                                                                                                                       On Climate Change
businesses had more or less doubled in                    E
                                                              ST                                                                     ESTABLISHED &
                                                                                                                                     SUPPORTED BY
                                                                                                                                                                                          On Climate Change
                                                                                                                                                                                                (IIGCC)
                                                                                                                                                                                                                                             (AIGCC)

less than a year, mainly from members of
                                                                       Global Sustainable
the UN Race to Zero campaign.                                         Investment Alliance
                                                                            (GSIA)

Our research into the financial alliances
                                                                                                                      SUPPORTED BY

for net zero indicates nearly a thousand                                                                                                                                                                                                                                           SUPPORTED BY

large financial institutions are now part                              L
                                                                           20
                                                                                20

                                                                  JU
of one or more alliance, with thousands
                                                          T:
                                                         ES

more signatories to the UN’s Principles for
Responsible Investment.     FINANCIAL NET ZERO ALLIANCES                    Bankers For
                                                                             NetZero

                            Building a global zero emissions economy is a daunting task, but it is one that financial
                                                                      EC
                                                                           20
                                                                                20
                                                                                                                                                                                                                        K E Y:                                                            1000+

                            firms are increasingly embracing. Financial Net Zero Alliances are on the rise, as they
                                                                  D
                                                          T:
                                                         ES

                                                                                                                                                                                                                        Represents the number                                             500–1000
                            band together to better address the challenge. Our infographic below navigates the web                                                                                                      of members/signatories/
                                                             Net Zero Asset
                            of Financial Net Zero Alliances,Managers
                                                             fromInitiative
                                                                      the initial founders (as early as 1989-2016) to the                                                                                               investors/companies within                                        100–500
                                                                                                                                                                                                                        each group, as of June 2021
                            intertwined group of organisations involved today. It gives a very real sense of the                                                                                                                                                                          50–100

                            evolving scale of the movement, and increasingly makes the 'Race to Zero'* look like an
                                                                                                                                                                                                                                                                                          5–50
                            achievable goal.
COUNTDOWN CARBON BRIEFING 101: TO COP26 - Gong Communications
T:
                                                                                                                                                                                                   20
                                                                                                                                                                                                     12
                                                                                                                                                                                                                                                                 T:
                                                                                                                                                                                                                                                                      20
                                                                                                                                                                                                                                                                        15

                                                                                                                                                                                                                                                                                                                                                                                                      2021

                                                                                                                                                                                         ES

                                                                                                                                                                                                                                                            ES
                                                                                                                                                                                                                                                                   Partnership for
                                                                                                                                                                                               Global Sustainable                                                Carbon Accounting
                                                                                                                                                                                              Investment Alliance                                                    Financials
                                                                                                                                                                                                     (GSIA)                                                            (PCAF)

                                                                                                                                                                                                                                                                                                               17
                                                                                                                                                                                                                                                                                                             20
                                                                                                                                                                                                                                                                                                         C
                                                                                              21                                                                                                                                                                                                    DE                                       20
                                                                                                                                                                                                                                                                                                                                                  06
                                                                                         20                                                                                                                                                                                                  ST
                                                                                                                                                                                                                                                                                                :
                                                                                     V                                                                                                                                                                                                   E                                              PR
                                                                                 O                                                                                                                                                                                                                                                  A
                                                                             N

                                                                                                                                                                                                                                                                                                                               T:
                                                                                                                                                                           20

                                                                                                                                                                                                                                                                                                                               ES
                                                                                                                       21                                             20

                                                                        T:
                                                                                                                                                                  L
                                                                                                                  20

                                                                       ES
                                                                                                                                                             JU
                                                                                                              V

                                                                                                                                                        T:
                                                                                                      O
                                                                                                                                                                                                                                                                                                                                             Principles for

                                                                                                                                                       ES
                                                                                                    :N
                                                                                                   EST
                                                                                                                                                                                                                                                                                                                                              Responsible
                                                                                                                   Net Zero                                           Bankers For                                                                                                                                                             Investment
                                                                                                               Insurance Alliance                                       NetZero                                                                                                          01
                                                                                                                                                                                                                                                                                           6                                                      (PRI)                                    98
                                                                                                                                                                                                                                                                                                                                                                                                9
                                                                                                                     (NZIA)                                                                                                                                                           :2                                                                                                 :1
                                                                                                                                                                                                                                                                                 ST                                                                                                 ST

                                                                                                                                                                                                                                                                                                                                                                                E
                                                                                                                                                                                                                                                                             E
                                                                                                                                              20
                                                                                                                                                19                                      SUPPORTED BY                                                                                   Investor Group
                                                                      Glasgow Financial                                              SE
                                                                                                                                          P
                                                                                                                                                                                                                                                                                      On Climate Change                                                                                             Ceres
                                                                     Alliance for Net Zero                                                                                                                                                                                                  (IGCC)

                                                                                                                             T:
                                                                                                                            ES
                                                                            (GFANZ)

                                                                                                                                                                                                                                                                                                                                    Climate Action 100+
                                                                                                              INVESTORS                   Net Zero Asset
                                                                                                               THROUGH
                                                                                                                                          Owner Alliance
                                                                                                   20
                                                                                                      2   0
                                                                                                                                               (AOA)                                                ES
                                                                                               P                                                                                                             T:                                                                                                            2                                               16
                                                                                          SE                                                                                                                      M                                                                                                      01                                              20
                                                                                                                                                                                                                                                                                                                      :2                                        SE
                                                                                                                                                                                                                                                                                                                                                                     P
                                                                                                                                                                                                                                                                                                                 ST

                                                                                 T:
                                                                                                                                                                                                                                                                                                                                                            :

                                                                                                                                                                                                                  AY
                                                                             ES

                                                                                                                                                                                                                                                                                                             E

                                                                                                                                                                                                                                                                                                                                                        T
                                                                                                                                                                                                                                                                                                                                                       ES
                                                                                                                                                                                                                      20
                                                                                                                                                                                                                        19
                                                                                           Net Zero Asset                                                                         Paris Aligned
                                                                                          Managers Initiative                                                                   Investor Initiative                                                                                                                  The Institutional                          Asia Investor Group
                                                                                                                                                                                                                                                                                                                     Investors Group                            On Climate Change
                                                                                                                                                                                                                                      ESTABLISHED &                                                                 On Climate Change                                 (AIGCC)
                                                                                                                                            Net Zero                                                                                  SUPPORTED BY                                                                        (IIGCC)
                                                                                                                                         Banking Alliance
                                                                                                                                             (NZBA)

                                                                                                                            ES
                                                                                                                            T:
                                                                                                                                 P

                                                                                                                             A
                                                                                                                                     R
                                                                                                                                         20
                                                                                                                                              21
                                                                                                                                                                                                   SUPPORTED BY

                                                                                                                                                     CO-LAUNCHED
                                                                                                                                                                                                                                                                                                                                                                                                            SUPPORTED BY

                                                                                                                                                                                                                         2   0
                                                                                                                                                                                                                      20
                                                                                                                                                                                                                  N                                    21
                                                                                                                                                                                                             JA                                   20

                                 FINANCIAL NET ZERO ALLIANCES
                                                                                                                                                                                                                                            B
                                                                                                                                                                                                        T:                             FE
                                                                                                                                                                                                   ES

                                                                                                                                                                                                                                  T:
This infographic illustrates our

                                                                                                                                                                                                                                 ES
findings from research into financial                                                                               Financial Services
                                                                                                                        Taskforce

net zero alliances, but we are aware                                                                                      (FSTF)

that this is an ever-growing universe.                                                             Sustainable
We welcome collaboration and  Building a global zero emissions economy is a daunting task, butMarkets
                                                                                                   it (SMI)
                                                                                                       isInitiative
                                                                                                              one that financial                                                                                                          O
                                                                                                                                                                                                                                              V
                                                                                                                                                                                                                                                  20
                                                                                                                                                                                                                                                       20
                                                                                                                                                                                                                                                                                                                               K E Y:                                                                         1000+
input to improve our work; iffirms
                               you are increasingly embracing. Financial Net Zero Alliances are on the rise, as they
                                                                                                                                                                                                                                      N

                                                                                                                                                                                                                                 T:
                                                                                                                                                                                                                                 ES
                                                                                                                                                                                                                                                                                                                                                                                                              500–1000
have additional alliances thatband
                                you together to better address the challenge. Our infographic below navigates                    the web
                                                                                                                     Sustainability 30
                                                                                                                                                                                                                                                                                                                                Represents the number
                                                                                                                                                                                                                                                                                                                                of members/signatories/
think ought to be represented    in the
                              of Financial Net Zero Alliances, from the initial founders (as early as 1989-2016) to the    (S30)                                                                                                                                                                                                investors/companies within                                                    100–500
                                                                                                                                                                                                                                                                                                                                each group, as of June 2021
network, please feel free to email   us at group of organisations involved today. It gives a very real sense of the
                              intertwined                                                                                                                                                                                                                                                                                                                                                                     50–100
NetZero@gongcommunications.comevolving scale of the movement, and increasingly makes the 'Race to Zero'* look like an
and we will include them. achievable goal.                                                                                                                                                                                                                                                                                                                                                                    5–50
COUNTDOWN CARBON BRIEFING 101: TO COP26 - Gong Communications
FIVE                The planet’s average surface
                         temperature has risen about
                         2.12 degrees Fahrenheit

  THINGS
                         (1.18 degrees Celsius) since
                         the late 19th century.                            The years
                                                                           2016 and 2020
                                                                           are tied for

     YOU
                                                                           the hottest on
                                                                           record.
                             The global sea level
                             rose about 8 inches (20
                             centimetres) in the last

   MIGHT
                             century. The rate in the last
                             two decades, however, is
                             nearly double that of the last
                             century and accelerating
                             slightly every year.

NOT HAVE                                                      Since the beginning of the
                                                              Industrial Revolution, the
                                                              acidity of surface ocean

 KNOWN
                                                              waters has increased by
                                                              about 30%. This increase is
                                                              the result of humans emitting
                                                              more carbon dioxide into
                                                              the atmosphere and hence

   ABOUT
            Did you know that cement production is
                                                              more being absorbed into
            responsible for 8–12% of the world’s CO2
                                                              the ocean. The ocean has
            emissions? In fact, if the cement industry
                                                              absorbed between 20% and
            were a country, it would be the third largest
                                                              30% of total anthropogenic
            carbon dioxide emitter in the world with up

 CLIMATE
                                                              carbon dioxide emissions in
            to 2.8bn tonnes. Learn more in our Africa Net
                                                              recent decades (7.2 to 10.8
            Zero series, in which we speak to Wolfram
                                                              billion metric tons per year).
            Schmidt about his research into alternative
            materials like cassava and other agricultural

 CHANGE
            residues as a source of ‘green’ African-made
            cement for future sustainable construction on
            the Continent.
COUNTDOWN CARBON BRIEFING 101: TO COP26 - Gong Communications
SET
YOURSELF
A PERSONAL
CHALLENGE
OR TWO!

                                   Can you cut a tonne of carbon from your own lifestyle?
     Here are a couple of    CO2
                                   This is the challenge from Nigel Topping and the Race to Zero team:
                                   https://racetozero.unfccc.int/reduce-replace-repair-cut-a-tonne-in-21/
 ideas to try at home, as
we all do our personal bit         Can you guess which foods have large or small carbon footprints?
 to fight climate change:          Watch the Horizon programme Feast to Save the Planet to see which you get right:
                                   https://www.bbc.co.uk/programmes/m000qzyd
FAQs   WHAT IS A CARBON SINK?
       A forest, ocean, or other natural environment viewed in terms of its ability to absorb carbon dioxide
       from the atmosphere.
       Coal, oil, natural gases, methane hydrate and limestone are all examples of carbon sinks. After long
       processes and under certain conditions, these sinks have stored carbon for millennia. On the contrary,
       the use of these resources, considered as fossil, re-injects the carbon they hold into the atmosphere.

       IS THERE A DIFFERENCE BETWEEN CARBON SEQUESTRATION
       AND CARBON REMOVAL?
       Carbon removal is not the same as carbon capture.
       After capture, carbon dioxide (CO2) can be compressed and then transported to a site where it is
       injected underground for permanent storage (also known as “sequestration”). Carbon is sequestered in
       soil by plants through photosynthesis and can be stored as soil organic carbon (SOC). Agroecosystems
       can degrade and deplete the SOC levels but this carbon deficit opens up the opportunity to
       store carbon through new land management practices.
       Carbon removal is the process of removing carbon dioxide from the atmosphere. Products that are
       carbon net negative lock up more CO2 in their creation than the processes to make them emit. This is
       known as carbon capture and usage (CCU). Wooden building elements produced in a carbon neutral
       process lock the carbon up for at least 50 years, or in the case of biochar as a soil improver, potentially
       for hundreds of years. Scaling these products and many of others like them could help to slow climate
       change — but it is not a substitute for cutting greenhouse gas emissions.

       WHAT ARE THE BEST EXAMPLES OF CARBON CAPTURE?
       We have written a blog outlining our favourite examples from around the world:
       https://gongcommunications.com/looking-for-carbon-capture-inspiration-we-have-you-covered/

       WHAT’S REGENERATIVE AGRICULTURE?
       “Regenerative Agriculture” describes farming and grazing practices that, among other benefits, mitigate
       climate change by rebuilding soil organic matter and restoring degraded soil biodiversity – resulting in
       both carbon drawdown and improving the water cycle.
FAQs   WHAT IS THE UNFCCC?
       The United Nations Framework Convention on Climate Change
                                                                              WHAT IS ARTICLE 6 OF THE PARIS AGREEMENT?
                                                                              Article 6 is a much debated element of the Paris Agreement,
       (UNFCCC) is an international environmental treaty against climate      which contains three separate mechanisms for “voluntary
       change, negotiated and signed by 154 states at the United              cooperation” towards climate goals: two based on markets and a
       Nations Conference on Environment and Development, informally          third based on “non-market approaches”.
       known as the Earth Summit, held in Rio de Janeiro from 3 to 14
       June 1992.                                                             In simple terms, the first mechanism would allow a country that
                                                                              has beaten its Paris climate pledge to sell any overachievement
                                                                              to a nation that has fallen short against its own goals. This
       WHAT IS THE UN’S REDD+ PROGRAM?                                        overachievement could be in terms of emissions cuts, but might
                                                                              also cover other types of target. For example, some countries have
       REDD+ is a voluntary climate change mitigation approach                set goals for renewable energy capacity or forest expansion.
       that has been developed by Parties to the UNFCCC. It aims
       to incentivize developing countries to reduce emissions from           The second mechanism would create a new international carbon
       deforestation and forest degradation, conserve forest carbon           market, governed by a UN body, for the trading of emissions
       stocks, sustainably manage forests and enhance forest carbon           reductions created anywhere in the world by the public or private
       stocks. It was established in September 2008 and counts 65             sector. Carbon credits could, for example, be generated by a new
       partner countries among its members.                                   renewable power plant, an emissions-saving factory upgrade or
                                                                              the restoration of an area of forest. This new market is sometimes
                                                                              referred to as the “Sustainable Development Mechanism” (SDM).
       WHAT IS THE KYOTO PROTOCOL’S CLEAN
       DEVELOPMENT MECHANISM?                                                 The final Article 6 mechanism for “non-market approaches” is less
                                                                              well defined, but would provide a formal framework for climate
       The Clean Development Mechanism (CDM) operated under                   cooperation between countries, where no trade is involved, such
       the predecessor to the Paris Agreement, known as the Kyoto             as development aid. This could include similar activities to those
       Protocol, and gave developed countries legally-binding emissions       under the other mechanisms – support for a new windfarm, for
       targets that applied from the start of 2008 until 2012.                example – but without any buying and selling of the resulting CO2
                                                                              savings.
       The CDM allowed emission-reduction projects in developing
                                                                              The three separate mechanisms – under Article 6.2, 6.4 and 6.8
       countries to earn certified emission reduction (CER) credits, each
                                                                              – all became part of the Paris deal in recognition of the different
       equivalent to one tonne of CO2. These CERs could be traded and
                                                                              interests and priorities among parties to the agreement.
       sold, and used by industrialized countries to a meet a part of their
       emission reduction targets under the Kyoto Protocol.
       The mechanism stimulated sustainable development and
       emission reductions, while giving industrialized countries some
       flexibility in how they met their emission reduction limitation
       targets.
FAQs         WHAT IS ADDITIONALITY?
             This is a controversial concept, relating to carbon offsetting.
                                                                                 constraints. This could lead to an increase in their total
                                                                                 emissions.
             It focuses on whether a carbon offsetting activity would have
             occurred if all else were constant. If it would, then the project   WHAT ARE NATURE-BASED SOLUTIONS?
             would not be ‘additional’. Additionality is often hard to measure   Nature-based solutions (NbS) involve working with nature to
             and, therefore, to prove.                                           address societal challenges, providing benefits for both human
                                                                                 well-being and biodiversity. Specifically they are actions that
             WHAT IS PERMANENCE?                                                 involve the protection, restoration or management of natural
                                                                                 and semi-natural ecosystems; the sustainable management
             This relates to sequestration projects ensuring that emissions
                                                                                 of aquatic systems and working lands such as croplands or
             are kept out of the atmosphere for a reasonable length of time.
                                                                                 timberlands; or the creation of novel ecosystems in and around
                                                                                 cities. They are actions that are underpinned by biodiversity and
             WHAT IS DOUBLE-COUNTING?
                                                                                 are designed and implemented with the full engagement and
             Double counting refers to a situation where two parties claim       consent of local communities and Indigenous Peoples.
             the same carbon removal or emission reduction.
                                                                                 Learn more in our blog on the economic potential of NbS here:
             WHAT IS LEAKAGE?                                                    https://gongcommunications.com/economic-potential-of-nature-
                                                                                 based-solutions/
             Carbon leakage refers to the situation that may occur if, for
             reasons of costs related to climate policies, businesses were
             to transfer production to other countries with laxer emission

       Head Office
       1 Blandford Street | London | W1U 3DA | United Kingdom
       T: +44 (0)20 7935 4800 | E: info@gongcommunications.com
                                                                                                      As a certified B Corporation, Gong
       Gong Communications Kenya Ltd                                                                  Communications is committed to continuing
                                                                                                      to be a carbon net negative business, and
       Ikigai Nairobi | General Mathenge Drive | Nairobi | Kenya                                      to help purposeful companies communicate
       T: +254 (0) 721230926 | E: info@gongcommunications.com                                         their positive impact. To learn more about
                                                                                                      what this means in practice, view our 2020
                                                                                                      Impact Report, here.
       www.gongcommunications.com
You can also read