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What is Climate Change and Decarbonization?

Understanding Climate Change

• According to the United Nations, climate change refers to long-term changes in global temperatures and weather patterns. While some changes are natural, human activities have been the primary driver since the 19th century.

• Key contributors to climate change include industrialization and activities like burning fossil fuels (coal, oil, gas), which release greenhouse gases that trap heat in the atmosphere.

• The Intergovernmental Panel on Climate Change (IPCC) defines climate change as large-scale alterations in the climate system occurring over a specific period, leading to significant disruptions for human groups and natural systems.

Consequences of Climate Change

• The IPCC predicts that by 2050, global temperatures will rise beyond 1.5°C and 2°C thresholds under all considered projections.

• Consequences of a 2°C increase include:

• Increased temperatures

• Decreased precipitation leading to drought

• Extreme weather events

• Rising sea levels

• Marine water temperature increases and acidification

• Gradual disappearance of polar regions and glaciers

• Health risks including diseases

• Increased poverty and inequality

• Loss of biodiversity

Human Impact on Climate

• The "inside out" approach highlights how an organization’s actions contribute to global climate issues, emphasizing internal management and sustainability initiatives to reduce carbon footprints.

• Anthropogenic actions increase greenhouse gas concentrations, disrupting natural balances which can lead to irreversible global temperature rises.

Decarbonization Process

• Decarbonization involves gradually reducing greenhouse gas emissions resulting from human activity. Achieving net-zero means cutting emissions as close to zero as possible while allowing for some residual emissions that can be absorbed by oceans or forests.

• Companies reach net-zero when they reduce their greenhouse gas emissions according to science-based pathways and fully neutralize any remaining emissions attributed to them.

Greenhouse Gases Overview

• Major anthropogenic greenhouse gases include:

• Water vapor (H2O)

• Carbon dioxide (CO2)

• Methane (CH4)

• Nitrous oxide (N2O)

• Hydrofluorocarbons (HFC)

• Perfluorocarbons (PFC)

• Sulfur hexafluoride (SF6)

• Nitrogen trifluoride (NF3)

Measuring Greenhouse Gas Emissions

• The carbon footprint is an indicator reflecting the total amount of greenhouse gases released directly or indirectly due to specific activities. It is expressed in CO2 equivalent units (CO2e).

Impacts of Climate Change

Risks and Opportunities

• Changes in essential climatic variables pose threats such as atmospheric temperature shifts, altered precipitation patterns, or rising sea levels—collectively known as impacts derived from climate change.

Positive Adaptation Strategies

• Examples of positive adaptation strategies by companies include:

• Efficient energy use

• Emission reductions through renewable energy sources

• Improved health outcomes for surrounding environments related to business operations

Risks Without Mitigation

• If companies fail to implement adaptation strategies against climate change risks, they may face:

• Increasing legislation limiting greenhouse gas emissions

• Inadequate responses to more frequent extreme weather events like floods affecting company infrastructure

Impact of Climate Change on Health and Economic Opportunities

Effects of Climate Change on Public Health

• Climate change significantly impacts public health, leading to increased infectious diseases and respiratory issues.

• There are also concerns regarding the supply chain for raw materials due to climate-related disruptions.

Economic Opportunities from Transitioning to a Low-Carbon Economy

• The transition towards a low-carbon economy presents various opportunities, including job creation in renewable energy sectors.

• Investment in projects that promote energy transition is crucial for economic growth and sustainability.

Financing Mechanisms for Sustainable Projects

• Companies can access subsidized financing products that offer better credit conditions than standard financing, reducing overall costs.

Setting Net Zero Emission Goals

Science-Based Targets Initiative (SBTi)

• The SBTi provides methodologies and frameworks to guide companies in establishing their net zero emission goals.

• It has developed the Corporate Net Zero framework, which is the only available standard aligned with climate science for setting corporate net zero targets.