The Alliance members will now also be asked to set targets on infrastructure assets, such as energy, transportation, social infrastructure, and others. The portfolio decarbonization targets have thus far been applied to listed equity, publicly traded corporate bonds, and real estate assets. The absolute CO2 emissions reduction range has been defined as 49% to 65%, compared to the base year 2020. On top of the 2025 targets, the TSP2 introduces the outlook to 2030. To respond to this challenge, the Alliance expects its members to set interim 2025 targets on 4 pillars –Sub-portfolio, Sector, Engagement, and Financing Transition. We-every company-needs to act powerfully, credibly and quickly and, not least, together to support governments to achieve a net-zero emissions world.” It is certainly not the time to discuss whether 1.5 degrees must be achieved, and interim steps need to be defined. Considering the newest findings, Günther Thallinger Board Member Allianz SE & Chair UN-convened Net-Zero Asset Owner Alliance said: Basis for the Target Setting Protocol Second Editionīuilding on the first edition of the Target Setting Protocol, the Net-Zero Asset Owner Alliance has launched the more ambitious second edition (TSP2), aligned with the very latest IPCC pathways to keep global warming below 1.5 oC. Developed by the Alliance’s MRV track, the Protocol underwent a public consultation to arrive at a document that guides Alliance members in setting science-based targets on their financed emissions, clearly communicating the Alliance’s role and approach to portfolio decarbonization (its benefits and limitations).īased on the latest IPCC no/low overshoot pathways, absolute emissions reductions for the period 2020 to 2025 should range between 22% and 32%.
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