HoekHome gives furniture a sustainable makeover

September 28, 2020 by  
Filed under Eco, Green, Recycle

Putting together furniture has been rich sitcom fodder for years. People often associate this task with frustration, confusion and many lost hours. But thanks to modern furniture companies such as HoekHome, furniture assembly has changed. You can assemble HoekHome’s click-together furniture with no tools other than your hands. This sleek, stylish and modern furniture also incorporates sustainable practices for the eco-conscious consumer. Together, these features elevate HoekHome’s furniture game to a new level. It will take you longer to tell a joke than it will to put together HoekHome furniture. The click-together design means that you only need to use your hands to assemble each piece. Unclip the legs from the chassis, click it all into place, and then you’re done. Assembly may only take seconds. You won’t need a hammer, nails, screws or even that notorious furniture construction manual. You can also “unclick” HoekHome furniture to make it flat again. This process makes moving significantly easier, as the flat furniture proves easy to store and transport . While easy assembly, disassembly and storage make the brand stand out, these features only tell half of the HoekHome furniture story. HoekHome furniture is also sustainable. Made from 100% post-consumer recycled HDPE plastic and FSC certified plywood , the furniture appeals to consumers who value eco-friendly design. These pieces epitomize responsible, environmentally-conscious design practices. You can decorate your entire house in sleek, sustainable HoekHome furniture. The product line includes side tables, desks, coffee tables and dining tables. Find your favorite pieces in multiple colors, from natural wood tones to bright, vibrant shades. As a new company, HoekHome is still gaining its footing. A Kickstarter campaign planned for October aims to help the company launch so it can create more products for consumers. If successful, this campaign could represent a major shift toward making the furniture industry friendlier to both consumers and the environment . + HoekHome Images via HoekHome

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HoekHome gives furniture a sustainable makeover

Trump administration appoints climate change deniers to NOAA

September 28, 2020 by  
Filed under Eco, Green

The Trump Administration is set to appoint two people who oppose the mainstream climate science to the National Oceanic and Atmospheric Administration (NOAA) this month. University of Delaware professor David Legates, who has openly questioned the scientific census that human activity drives climate change, has already been named the deputy assistant of commerce for environmental observation. In previous remarks, Legates has argued that carbon emissions are beneficial to the environment. The Trump administration is also ready to appoint meteorologist Ryan Maue as the chief scientist of NOAA. Maue, who runs the site weathermodels.com, has openly criticized both the worst-case scenario climate predictions and the link between fossil fuels and extreme weather events. Speaking to the Washington Post, two NOAA officials confirmed that Maue is being considered for the above position. Related: Biden vs. Trump on environmental issues and climate change “For the second time this month, a person who misrepresents, distorts, and disagrees with climate science is being placed in a science position at NOAA,” Professor Katharine Hayhoe tweeted . Most recently, Maue has spoken out against California governor Gavin Newsom for saying the state’s record-breaking wildfires are connected to climate change. In a tweet, he insinuated that the Democrats are using the weather events to score political points. “Seems the Democrats have coordinated their efforts to use the devastating California fires as an opportunity to score political points in the upcoming election by blaming them solely on climate change (and Trump ),” Maue tweeted. The tweet has since been deleted but is available on The Washington Post . While the new appointees have argued openly against mainstream science, studies show that recent extreme weather events are linked to climate change . Unfortunately, the new appointees would greatly influence the NOAA agenda. “Normally, when people are chosen for high-profile positions relating to climate change, I’ve heard of them. I have no idea who this person is, other than I’ve seen him saying things about climate that are wrong on social media and in op-eds. I suspect that he has the one and only necessary qualification for the job: a willingness to advance the agenda of climate deniers,” tweeted Andrew Dessler , a Texas A&M climate scientist. If climate deniers are put in control of research and policymaking, chances are that much of the efforts that have been made in the past could be eroded. Via EcoWatch and The Washington Post Image via NOAA

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Trump administration appoints climate change deniers to NOAA

ASOS launches first circular fashion collection

September 28, 2020 by  
Filed under Eco, Green, Recycle

This fall, online retailer ASOS is launching its first collection of circular fashions . A collaboration with the Centre for Sustainable Fashion , the 29 women’s, men’s and unisex styles aim to prove that eco-friendly clothing can also be chic. Circular design refers to a constant recycling loop, with no materials ending up in the landfill. Instead of waste, ASOS aims to create an endless series of new fashions. According to ASOS, each style from the autumn collection meets at least two of these three goals: designing out waste and pollution; keeping products and materials in use; and regenerating natural systems. Related: The Redress Design Award is making sustainable fashion an industry standard To create the new Fall 2020 collection, ASOS designers put together a set of goals. First was to attain a zero-waste collection, or at least to minimize waste. When possible, they chose materials that were already at least partially recycled, yet still durable. The designers also aimed for versatility, so that each garment could be styled in multiple ways. The collection also makes use of upcycling , or turning something old into something new. Using one recyclable material for the entire product, called a mono-material approach, means that at the end of each garment’s life, it will be easier to recycle. The fashions were also created with eventual ease of disassembly in mind. Some of the new collection’s items include oversized dresses, pants, blouses, shoes and denim. Black, white and lavender are some of the line’s recurring colors. The new line is a direct response to ASOS’ promise at the Copenhagen Fashion Summit in 2018 to train its designers in circular design by 2020. In the last two years, ASOS has started a training program in conjunction with the Centre for Sustainable Fashion, which is part of London College of Fashion, to educate all ASOS designers on sustainable fashion principles. + ASOS Image via ASOS

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ASOS launches first circular fashion collection

ASOS launches first circular fashion collection

September 28, 2020 by  
Filed under Eco, Green, Recycle

This fall, online retailer ASOS is launching its first collection of circular fashions . A collaboration with the Centre for Sustainable Fashion , the 29 women’s, men’s and unisex styles aim to prove that eco-friendly clothing can also be chic. Circular design refers to a constant recycling loop, with no materials ending up in the landfill. Instead of waste, ASOS aims to create an endless series of new fashions. According to ASOS, each style from the autumn collection meets at least two of these three goals: designing out waste and pollution; keeping products and materials in use; and regenerating natural systems. Related: The Redress Design Award is making sustainable fashion an industry standard To create the new Fall 2020 collection, ASOS designers put together a set of goals. First was to attain a zero-waste collection, or at least to minimize waste. When possible, they chose materials that were already at least partially recycled, yet still durable. The designers also aimed for versatility, so that each garment could be styled in multiple ways. The collection also makes use of upcycling , or turning something old into something new. Using one recyclable material for the entire product, called a mono-material approach, means that at the end of each garment’s life, it will be easier to recycle. The fashions were also created with eventual ease of disassembly in mind. Some of the new collection’s items include oversized dresses, pants, blouses, shoes and denim. Black, white and lavender are some of the line’s recurring colors. The new line is a direct response to ASOS’ promise at the Copenhagen Fashion Summit in 2018 to train its designers in circular design by 2020. In the last two years, ASOS has started a training program in conjunction with the Centre for Sustainable Fashion, which is part of London College of Fashion, to educate all ASOS designers on sustainable fashion principles. + ASOS Image via ASOS

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ASOS launches first circular fashion collection

The durable Solo New York backpack can accompany all of your adventures

September 28, 2020 by  
Filed under Eco, Green, Recycle

Back in July, Inhabitat introduced readers to the Solo New York brand, a sustainable fashion company making bags out of recycled plastic water bottles. Since then, we have had the opportunity to use the popular Re:vive Mini Backpack ourselves, testing it out on more than a few outdoor adventures. With the environmental tolls of fast fashion becoming more and more apparent, sustainability has certainly become a buzzword in the textile and fashion industries. Solo New York’s recycled fabric production starts with discarded plastic bottles. Through an environmentally friendly process, the plastic bottles are finely shredded and re-spun into durable and lightweight recycled PET polyester yarn. According to Solo New York, this recycled material reduces energy use by 50%, water use by 20% and air pollution by 60%. Related: Each purchase of this bag made from recycled plastic helps plant trees The Re:vive Mini Backpack is just the right size for a day trip. We took one on a hike down to McClures Beach in Point Reyes, California in the height of summer. Despite its seemingly small size, it easily held a small beach towel, a large water bottle, keys, wallet, sunglasses and a tube of sunscreen with room to spare. The short fabric key clip built into the top of the bag helped keep us from digging around in the bottom for keys (always a plus), and the bag itself was so lightweight that it was easy to forget it was even on. When a sandwich mishap produced a small stain on the outside of the backpack , a simple dose of spot-cleaning made it good as new — a great characteristic if you plan on using the backpack in your everyday life. Another feature we noticed was the versatility of the design; the heathered gray material on the outside and the subtle black camo on the inside are just as appropriate for a big city subway or the office as they are for exploring a national park. Apart from aiding our fight against plastic pollution, this backpack also proved itself as a great conversation starter. Once people found out that it was made from recycled plastic bottles , most couldn’t believe that the fabric could be so soft and similar to other popular textiles like cotton or polyester. The sturdiness of the plastic fiber is apparent in its durability as well, so it is easy to tell that the bags are designed to last a long time. The mini backpack measures 14″ x 9″ x 4″ and weighs only 0.57 pounds. Priced at $24.99, it is affordable, too. Along with the aforementioned key clip, there are also adjustable shoulder straps and a front zippered pocket to hold more quick-grab items like cellphones and wallets. According to the company, the first run of the Re:cycled Collection was responsible for recycling more than 90,000 plastic bottles, and the line is still continuing to expand with new bags. As of September 2020, the collection features four backpack versions priced from $24.99 to $64.99, a laptop sleeve, two carry-on-size luggage pieces, a briefcase, a tote and a duffel. Solo New York was founded by John Ax, who arrived to the U.S. in 1940 with his family. They only had $100 and the clothes on their backs. As a skilled craftsman, he began rounding up leather pieces and scraps that were destined for the trash from local tanneries to turn into sellable goods. His small company, which eventually became known as the United States Luggage Company, thrived for decades before rebranding as Solo New York. Today, the company has already set solid, transparent goals to become even more sustainable in the future. The goal is to eliminate plastic from all packaging by the end of 2020. Hang tags are already printed on 100% recycled and biodegradable material with a recycled cotton string and a completely biodegradable clasp. The Solo New York headquarters on Long Island takes advantage of New York’s average of 224 sunny days per year with 1,400 rooftop solar panels (producing enough energy to power 87 homes). Plus, the company has a zero-tolerance plastic water bottle policy for its employees, instead offering filtered smart fountains and water dispensers throughout its locations. Solo New York has also partnered with the United States National Forest Foundation, pledging to help aid in reforestation by planting one tree per every bag purchased from the Re:cycled collection. Customers also have the option of taking the “Green Pledge” and promising to say no to plastic bottles for the following 30 days. For every pledge signed, Solo NY will plant a second tree. Overall, we think any of the bags from this sustainable collection would be a great gift option for the Earth-lover in your life, especially for the upcoming holiday season. Even for someone who hasn’t found their stride in sustainability quite yet, the gift of a Re:cycled Collection bag or backpack is sure to be pretty eye-opening as to how far recycling can really go. Even better, if more people pivot to eco-friendly bags, that means we can help cut down on the number of plastic items being manufactured and distributed globally, leading to fewer toxic chemicals released into the atmosphere, less resources spent and less waste produced overall. + Solo New York Images via Katherine Gallagher / Inhabitat Editor’s Note: This product review is not sponsored by Solo New York. All opinions on the products and company are the author’s own.

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The durable Solo New York backpack can accompany all of your adventures

The durable Solo New York backpack can accompany all of your adventures

September 28, 2020 by  
Filed under Eco, Green, Recycle

Back in July, Inhabitat introduced readers to the Solo New York brand, a sustainable fashion company making bags out of recycled plastic water bottles. Since then, we have had the opportunity to use the popular Re:vive Mini Backpack ourselves, testing it out on more than a few outdoor adventures. With the environmental tolls of fast fashion becoming more and more apparent, sustainability has certainly become a buzzword in the textile and fashion industries. Solo New York’s recycled fabric production starts with discarded plastic bottles. Through an environmentally friendly process, the plastic bottles are finely shredded and re-spun into durable and lightweight recycled PET polyester yarn. According to Solo New York, this recycled material reduces energy use by 50%, water use by 20% and air pollution by 60%. Related: Each purchase of this bag made from recycled plastic helps plant trees The Re:vive Mini Backpack is just the right size for a day trip. We took one on a hike down to McClures Beach in Point Reyes, California in the height of summer. Despite its seemingly small size, it easily held a small beach towel, a large water bottle, keys, wallet, sunglasses and a tube of sunscreen with room to spare. The short fabric key clip built into the top of the bag helped keep us from digging around in the bottom for keys (always a plus), and the bag itself was so lightweight that it was easy to forget it was even on. When a sandwich mishap produced a small stain on the outside of the backpack , a simple dose of spot-cleaning made it good as new — a great characteristic if you plan on using the backpack in your everyday life. Another feature we noticed was the versatility of the design; the heathered gray material on the outside and the subtle black camo on the inside are just as appropriate for a big city subway or the office as they are for exploring a national park. Apart from aiding our fight against plastic pollution, this backpack also proved itself as a great conversation starter. Once people found out that it was made from recycled plastic bottles , most couldn’t believe that the fabric could be so soft and similar to other popular textiles like cotton or polyester. The sturdiness of the plastic fiber is apparent in its durability as well, so it is easy to tell that the bags are designed to last a long time. The mini backpack measures 14″ x 9″ x 4″ and weighs only 0.57 pounds. Priced at $24.99, it is affordable, too. Along with the aforementioned key clip, there are also adjustable shoulder straps and a front zippered pocket to hold more quick-grab items like cellphones and wallets. According to the company, the first run of the Re:cycled Collection was responsible for recycling more than 90,000 plastic bottles, and the line is still continuing to expand with new bags. As of September 2020, the collection features four backpack versions priced from $24.99 to $64.99, a laptop sleeve, two carry-on-size luggage pieces, a briefcase, a tote and a duffel. Solo New York was founded by John Ax, who arrived to the U.S. in 1940 with his family. They only had $100 and the clothes on their backs. As a skilled craftsman, he began rounding up leather pieces and scraps that were destined for the trash from local tanneries to turn into sellable goods. His small company, which eventually became known as the United States Luggage Company, thrived for decades before rebranding as Solo New York. Today, the company has already set solid, transparent goals to become even more sustainable in the future. The goal is to eliminate plastic from all packaging by the end of 2020. Hang tags are already printed on 100% recycled and biodegradable material with a recycled cotton string and a completely biodegradable clasp. The Solo New York headquarters on Long Island takes advantage of New York’s average of 224 sunny days per year with 1,400 rooftop solar panels (producing enough energy to power 87 homes). Plus, the company has a zero-tolerance plastic water bottle policy for its employees, instead offering filtered smart fountains and water dispensers throughout its locations. Solo New York has also partnered with the United States National Forest Foundation, pledging to help aid in reforestation by planting one tree per every bag purchased from the Re:cycled collection. Customers also have the option of taking the “Green Pledge” and promising to say no to plastic bottles for the following 30 days. For every pledge signed, Solo NY will plant a second tree. Overall, we think any of the bags from this sustainable collection would be a great gift option for the Earth-lover in your life, especially for the upcoming holiday season. Even for someone who hasn’t found their stride in sustainability quite yet, the gift of a Re:cycled Collection bag or backpack is sure to be pretty eye-opening as to how far recycling can really go. Even better, if more people pivot to eco-friendly bags, that means we can help cut down on the number of plastic items being manufactured and distributed globally, leading to fewer toxic chemicals released into the atmosphere, less resources spent and less waste produced overall. + Solo New York Images via Katherine Gallagher / Inhabitat Editor’s Note: This product review is not sponsored by Solo New York. All opinions on the products and company are the author’s own.

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The durable Solo New York backpack can accompany all of your adventures

Third Nature imagines a zero-emission regenerative city district in Bergen

September 28, 2020 by  
Filed under Eco, Green

An old logistics port and ferry terminal in Bergen, Norway has been reimagined into an inspiring zero-emission district where nature-based climate adaptation, a community-based sharing economy and renewable building materials will take center stage. Copenhagen-based architecture studio Tredje Natur (Third Nature) is the mastermind behind this grand vision, a 40-hectare mixed-use development known as the future Dokken. The design follows principles of a regenerative city, from the emphasis on public transportation and pedestrian-friendly spaces over car-oriented transit to the inclusion of low-carbon construction strategies, such as adaptive reuse and building with renewable and reusable materials. Developed for the Bergen Municipality in close collaboration with Entasis, Matter by Prix and MOE, the future Dokken regenerative city concept seeks to fulfill the goals of the Paris Agreement . Located along the water, Dokken is continually being expanded upon with surplus materials, such as granite rubble, from infrastructural works around the city. The architects aim to better connect the area’s enlarged footprint with two primary elements: a new urban “allmenning,” a climate streetscape that builds on Bergen’s existing urban fabric with unique public spaces, and an all-encompassing, nature-based loop that would create a new 4.5-kilometer coastline. The coastline would introduce a massive, publicly accessible green space connected to the natural harbor-front. Related: Futuristic eco-city powered with renewable energy is unveiled for the Maldives To inject new life into the area, the first phase of the Dokken development would include The Sea Quarter, which comprises the Institute for Marine Research, the Directorate of Fisheries and the new Bergen Aquarium housed within the old Harbor Warehouse; The Sugarhouse Square, a new public space; and Under the Bridge, a place for experimental urban interventions and grass-roots initiatives located under the Puddefjord Bridge. New housing would be built of renewable and reusable materials, while car parking would be tucked underground to create a pedestrian- and cyclist-friendly area with close access to light rail. In total, the urban development encompasses 535,000 square meters of mixed-use, cultural and civic buildings.  “Creating a regenerative city is about integrating sustainability into all the discrete parts if the city, great or small,” the architects said. “In a sustainable future, everything — from our everyday consumer habits to the total ecological footprint of the city — must work together in circular processes, which won’t destroy our nature and climate. The sustainable city must correct the sins of the past by recreating lost narratives and reuniting separate areas and processes — and, in the case of Dokken, by creating new connections and reuniting Bergen with the water.” + Tredje Natur Images via Tredje Natur

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Third Nature imagines a zero-emission regenerative city district in Bergen

To achieve net-zero, let’s agree on one definition of success

September 28, 2020 by  
Filed under Business, Green

To achieve net-zero, let’s agree on one definition of success Peter Boyd Mon, 09/28/2020 – 01:30 Reaching the 2015 Paris Agreement goals requires bold action from all sectors and levels of our society. But any chief sustainability officer will fall short of their responsibility if they simply cite net-zero as a strategic goal. High ambition on its own may sound good. But without describing the emissions their organization is responsible for and the end-state they consider successful, an ambitious claim may be disingenuous. At the other extreme, a cautious, crystal-clear set of climate goals is too incremental in this time of emergency. So how to combine the necessary level of ambition with appropriate clarity to inspire potent action? We suggest leaders spell out an organizational definition of net-zero to enable the Paris Agreement’s aim of net-zero global emissions by mid-century. How should a software company or a city mayor think about its duty to reduce emissions and remove them from the atmosphere? The concept of “net-zero carbon emissions” may feel clear enough at a global scale: Carbon output at a level in balance with natural and engineered means of absorption. However, at the scale of countries, cities, institutions and companies, defining net-zero emissions is tricky. Why focus on the responsibilities of organizations and communities? After all, it is the world that needs to achieve net-zero emissions. If we are to maximize the probability of a just transition to a sustainable society, all actors should explain what they mean by net-zero before they describe their intended timeline and actions for achieving it. In that sense, no single organization’s emissions matter much. But if entities think their emissions do not matter, we are all in trouble. To reach and then surpass net-zero emissions globally, most entities need to be on a reduction and removal path that pulls down the trajectory of global emissions. It is a bit like voting: A single vote almost never sways an election; but the duty and mass activity of voting are vital to the health of a democracy. In this sense, each of our emissions is, in fact, important.  If climate actions were as easy to count as votes, this would be easy. Here we argue for a consistent definition of “net-zero” that enables organizations, companies, cities and countries to set transparent targets and track their progress. If we are to maximize the probability of a just transition to a sustainable society, all actors should explain what they mean by net-zero before they describe their intended timeline and actions for achieving it. In that spirit, we suggest four measurable criteria that, when applied together, elevate an undertaking of net-zero (lower case indicating general use of the term) to be worthy of capitalizing to “Net-Zero.” In this refreshed, robust definition, a strategy for “Net-Zero” greenhouse gas emissions can earn its capital letters if it is: Fully-scoped , Science-based , Paris Agreement-compliant and Cumulative. Each descriptive term imparts an important dimension of clarity, while reinforcing the ambition. Net-Zero can be a powerful goal at the sub-global level if entities embrace a concept that is: Fully-scoped: The goal articulates the entity’s scope of responsibility. This should include all greenhouse gas emissions from Scope 1 (owned and controlled sources); Scope 2 (indirect and purchased sources); and Scope 3 ( value chain emissions — both upstream and downstream) that the entity has the ability to influence. Science-based: It incorporates an absolute target for the entity’s own emissions reductions — assuming bold, appropriate responsibility for emissions reductions consistent with the Paris Agreement and at least proportional to its contribution to climate change. Paris Agreement-compliant: The entity specifies if and to what extent carbon credits and external investments in carbon reduction and removal factor into its strategy. Any offsetting investments should be linked to the global carbon budget as defined in the Paris Agreement. Cumulative: The target acknowledges the entity’s historical emissions of greenhouse gases, not just their current level. By analogy, if a customer ate at their favorite restaurant for years without paying, then started paying as they went, the establishment would reasonably expect the customer to settle their old tab at some point. Cumulative responsibility puts rational boundaries around a historical debt. Our hope is that ambitious, clear targets help entities not only achieve “Net-Zero” emissions but progress beyond that marker to a restorative role in society — ideally well before 2050. Together, it is possible to achieve “Net-Zero” emissions across the globe. To do that, it is crucial to rally around one definition of success. This definition should include bold and clear concepts of scope; assume proportional responsibility of definite, ambitious reductions trajectories; include only Paris Agreement-compliant carbon credits or investments; and assume historic responsibility When clearly defined, “Net-Zero” will be an increasingly powerful conceptual tool to focus the world’s response on the climate crisis. For our full paper, visit this link . To share your views and inform future work, please complete our survey and feel free to share with others: bit.ly/DefineNetZero . Pull Quote If we are to maximize the probability of a just transition to a sustainable society, all actors should explain what they mean by net-zero before they describe their intended timeline and actions for achieving it. Contributors Casey R. Pickett Topics Corporate Strategy Net-Zero Featured in featured block (1 article with image touted on the front page or elsewhere) Off Duration 0 Sponsored Article Off

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To achieve net-zero, let’s agree on one definition of success

Seven ways to inform better decisions with TCFD reporting

September 28, 2020 by  
Filed under Business, Eco, Green

Seven ways to inform better decisions with TCFD reporting Steven Bullock Mon, 09/28/2020 – 00:00 This article is sponsored by Trucost, part of S&P Global . The Task Force on Climate-related Financial Disclosures (TCFD) is helping to bring transparency to climate risk throughout capital markets, with the aim of making markets more efficient and economies more stable and resilient.  Many stakeholders are involved in the initiative, across corporations and financial institutions. Each can apply TCFD reporting intelligence to inform better decisions in different ways. Image of seven stakeholders; Source: Trucost, part of S&P Global. 1. Finance director: Developing a business case to increase capital expenditure on carbon-mitigation projects  A global manufacturing company wanted to undertake a carbon pricing risk assessment to understand the current and potential future financial implications of carbon regulation and related price increases on operating margins. The finance director felt the results could strengthen the business case for investment in low-carbon innovation at operational sites around the world. He used the carbon pricing risk assessment in Figure 1 to illustrate the differences the company might see in its operating margins under different climate change scenarios and highlight where investment in carbon-mitigation projects would matter most.  2. Purchasing manager: Minimizing supply chain disruption by identifying suppliers vulnerable to physical risks A global energy company wanted to undertake a physical risk assessment to understand the firm’s potential exposure to climate hazards, such as heatwaves, wildfires, droughts and sea-level rise that could lead to supply chain disruptions and increased operating costs for the business. The purchasing manager felt the results could help identify raw material suppliers that may be affected by these hazards and provide an opportunity to speak with them about steps they are taking to address these risks. As shown in Figure 2, a physical risk assessment can pinpoint vulnerable sites that could cause problems down the road.  3. Sustainability manager: Setting science-based targets for company greenhouse gas (GHG) emissions  A global beverage company wanted to quantify its carbon footprint for its own operations and global supply chain. The sustainability manager saw this as an excellent starting point to set science-based targets for a reduction in emissions, with the targets reflecting the Paris Agreement and carbon reduction plans for countries in which the company did business. As shown in Figure 3, targets could help the company understand the reduction in emissions needed to move to a low-carbon economy and enhance innovation. 4. Investor relations manager: Publishing a TCFD-aligned report  A large consumer goods company wanted to assess the firm’s climate-related risks and opportunities in accordance with the recommendations of the TCFD. Using four core elements — governance, strategy, risk management and metrics and targets — the TCFD assessment helps quantify the financial impacts of climate-related risks and opportunities. The investor relations team wanted to report these findings alongside traditional financial metrics to publicize that the company was taking steps to manage climate-related issues. To illustrate what could be done, the team pointed to the TCFD report shown in Figure 4 completed by S&P Global for its own operations.   5. Portfolio manager: Screening a portfolio for carbon earnings at risk using scenario analysis An asset management firm wanted to test its investment strategy by assessing the current ability of companies to absorb future carbon prices so its analysts could estimate potential earnings at risk. Integral to this analysis is the calculation of the Unpriced Carbon Cost (UCC), the difference between what a company pays for carbon today and what it may pay at a given future date based on its sector, operations and carbon price scenario. A portfolio manager wanted to use the findings, such as those shown in Figure 5, to report these estimates of financial risk to stakeholders and engage with portfolio constituents on their preparedness for policy changes and strategies for adaptation.  6. Chief investment officer (CIO): Using TCFD-aligned reporting as a way to engage asset managers on climate issues A large pension plan wanted to undertake a climate change alignment assessment of its global equity and bond portfolios to understand how in sync it was with the goals of the Paris Agreement, and where there could be potential future carbon risk exposure. The CIO wanted to publish the results and use the findings, such as those shown in Figure 6, to engage with the firm’s asset managers to determine how they were integrating climate risk into investment decisions. 7. Risk officer: Assessing exposure to climate-linked credit risk  A large commercial bank wanted to estimate the impact of a carbon tax on the credit risk of companies in their loan book. The Risk Officer felt this would add an important dimension to the assessment of creditworthiness. Figure 7 highlights the changes that might be seen in quantitatively derived credit scores for the materials sector under a fast-transition scenario. This shows a rapid increase in carbon tax, with companies reacting in various ways. Some invest in greener technology to meet the reduction targets in 2050 (green bars), while others do not invest and pay a high carbon tax or experience lost revenue resulting from bans on the use of certain materials (red bars). There are many more examples of how TCFD reporting is helping organizations inform better decision-making and capture new opportunities in the transition to a low-carbon economy.   Please visit spglobal.com/marketintelligence/tcfd or watch our on-demand webinar to learn more.   Topics Finance & Investing Risk & Resilience Sponsored Trucost, S&P Global Featured in featured block (1 article with image touted on the front page or elsewhere) Off Duration 0 Sponsored Article On Taking action to keep the world green; Source: Trucost, part of S&P Global.

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Seven ways to inform better decisions with TCFD reporting

Seven ways to inform better decisions with TCFD reporting

September 28, 2020 by  
Filed under Business, Eco, Green

Seven ways to inform better decisions with TCFD reporting Steven Bullock Mon, 09/28/2020 – 00:00 This article is sponsored by Trucost, part of S&P Global . The Task Force on Climate-related Financial Disclosures (TCFD) is helping to bring transparency to climate risk throughout capital markets, with the aim of making markets more efficient and economies more stable and resilient.  Many stakeholders are involved in the initiative, across corporations and financial institutions. Each can apply TCFD reporting intelligence to inform better decisions in different ways. Image of seven stakeholders; Source: Trucost, part of S&P Global. 1. Finance director: Developing a business case to increase capital expenditure on carbon-mitigation projects  A global manufacturing company wanted to undertake a carbon pricing risk assessment to understand the current and potential future financial implications of carbon regulation and related price increases on operating margins. The finance director felt the results could strengthen the business case for investment in low-carbon innovation at operational sites around the world. He used the carbon pricing risk assessment in Figure 1 to illustrate the differences the company might see in its operating margins under different climate change scenarios and highlight where investment in carbon-mitigation projects would matter most.  2. Purchasing manager: Minimizing supply chain disruption by identifying suppliers vulnerable to physical risks A global energy company wanted to undertake a physical risk assessment to understand the firm’s potential exposure to climate hazards, such as heatwaves, wildfires, droughts and sea-level rise that could lead to supply chain disruptions and increased operating costs for the business. The purchasing manager felt the results could help identify raw material suppliers that may be affected by these hazards and provide an opportunity to speak with them about steps they are taking to address these risks. As shown in Figure 2, a physical risk assessment can pinpoint vulnerable sites that could cause problems down the road.  3. Sustainability manager: Setting science-based targets for company greenhouse gas (GHG) emissions  A global beverage company wanted to quantify its carbon footprint for its own operations and global supply chain. The sustainability manager saw this as an excellent starting point to set science-based targets for a reduction in emissions, with the targets reflecting the Paris Agreement and carbon reduction plans for countries in which the company did business. As shown in Figure 3, targets could help the company understand the reduction in emissions needed to move to a low-carbon economy and enhance innovation. 4. Investor relations manager: Publishing a TCFD-aligned report  A large consumer goods company wanted to assess the firm’s climate-related risks and opportunities in accordance with the recommendations of the TCFD. Using four core elements — governance, strategy, risk management and metrics and targets — the TCFD assessment helps quantify the financial impacts of climate-related risks and opportunities. The investor relations team wanted to report these findings alongside traditional financial metrics to publicize that the company was taking steps to manage climate-related issues. To illustrate what could be done, the team pointed to the TCFD report shown in Figure 4 completed by S&P Global for its own operations.   5. Portfolio manager: Screening a portfolio for carbon earnings at risk using scenario analysis An asset management firm wanted to test its investment strategy by assessing the current ability of companies to absorb future carbon prices so its analysts could estimate potential earnings at risk. Integral to this analysis is the calculation of the Unpriced Carbon Cost (UCC), the difference between what a company pays for carbon today and what it may pay at a given future date based on its sector, operations and carbon price scenario. A portfolio manager wanted to use the findings, such as those shown in Figure 5, to report these estimates of financial risk to stakeholders and engage with portfolio constituents on their preparedness for policy changes and strategies for adaptation.  6. Chief investment officer (CIO): Using TCFD-aligned reporting as a way to engage asset managers on climate issues A large pension plan wanted to undertake a climate change alignment assessment of its global equity and bond portfolios to understand how in sync it was with the goals of the Paris Agreement, and where there could be potential future carbon risk exposure. The CIO wanted to publish the results and use the findings, such as those shown in Figure 6, to engage with the firm’s asset managers to determine how they were integrating climate risk into investment decisions. 7. Risk officer: Assessing exposure to climate-linked credit risk  A large commercial bank wanted to estimate the impact of a carbon tax on the credit risk of companies in their loan book. The Risk Officer felt this would add an important dimension to the assessment of creditworthiness. Figure 7 highlights the changes that might be seen in quantitatively derived credit scores for the materials sector under a fast-transition scenario. This shows a rapid increase in carbon tax, with companies reacting in various ways. Some invest in greener technology to meet the reduction targets in 2050 (green bars), while others do not invest and pay a high carbon tax or experience lost revenue resulting from bans on the use of certain materials (red bars). There are many more examples of how TCFD reporting is helping organizations inform better decision-making and capture new opportunities in the transition to a low-carbon economy.   Please visit spglobal.com/marketintelligence/tcfd or watch our on-demand webinar to learn more.   Topics Finance & Investing Risk & Resilience Sponsored Trucost, S&P Global Featured in featured block (1 article with image touted on the front page or elsewhere) Off Duration 0 Sponsored Article On Taking action to keep the world green; Source: Trucost, part of S&P Global.

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Seven ways to inform better decisions with TCFD reporting

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