Low Carbon Pathway
The recent assessment reports released by the Intergovernmental Panel on Climate Change (IPCC) have reiterated that ‘climate change remains an urgent challenge’. An increase in the concentration of greenhouse gases (GHG) has resulted in a rise in global surface temperature from 0.8°C in 1850-1900 to 1.3°C in 2010-2019. With temperature rise comes an increased risk of physical and economic hazards. Rapid and deep emission reduction by businesses is required to limit the global temperature rise to 1.5°C.
Climate change impacts and the resultant push for low-carbon transition creates a wide range of risks to businesses from damaging infrastructure, disrupted supply chains, labour shortages, to rising insurance costs. On the other hand, it also provides organisations opportunities for resource efficiency and cost savings initiatives, development of new products and services, access to new markets and building resilience along the supply chain. The pressure on businesses to transition to a low-carbon pathway and adapt to the impacts of climate risk is mounting.
With deep energy and climate policy expertise, we are helping companies chart out their low carbon transformation journey by using the D3 approach:
Developing a comprehensive GHG inventory across Scope 1, 2 and 3 emissions in alignment with global standards
Providing guidance to companies on setting Science Based emission reduction targets as well as identifying emission reduction pathways
Assessing the climate impact of a product by estimating the total GHG emissions generated by a product over the different stages of its life cycle – from the extraction of resources to manufacturing, use phase and end-of-life
Analysing the potential environmental impacts of products or services during their entire life cycle
Integrating an internal carbon price into the business climate strategy to understand and manage climate risk