The document provides an overview of a mining and metals company including a financial analysis for 2011-2012. Revenue declined 8% from 2011 to 2012 while gross profit increased 5%. EBITDA declined 17% overall due to decreases in mining and smelting divisions. The company had a net loss in 2012 compared to a profit in 2011. In conclusion, macroeconomic conditions were depressed in 2012 and the company will focus on profitability and growth strategies in 2013.
Robert Rosenberg from SouthPole Group presents the results from a study that assessed the carbon footprint of the Nasdaq Helsinki listed companies in 2015. The study also compares the carbon-intensity of investments made in Nasdaq Helsinki and Nasdaq Stockholm and presents a global view.
Presentations given by Jouni Keronen (CLC), Stephanie Pfeiffer (IIGCC), Maximillian Horster (South Pole Group), Véronique Menou (MSCI ESG), Lauren Smart (Trucost), Yulia Sofronova and Sagarika Chatterjee (UN PRI) in a carbon foot printing workshop organised by FINSIF, IIGCC, Climate Leadership Council and Sitra.
La décarbonisation des portefeuilles d'investissementThe Shift Project
Présentation de Frédéric Samama, de chez Amundi, aux Ateliers du Shift Project du 9 juin 2015, questionnant les manières d'investir en réduisant son impact environnemental.
The document summarizes the key findings of a report from Trucost that ranks the carbon footprints of 44 UK investment funds totaling £45 billion in assets. The fund with the smallest carbon footprint is the Scottish Widows Investment Partnership UK & Income ICVC - Environmental Investor fund, emitting 337 tonnes of CO2 per £1 million invested. In contrast, the fund with the largest carbon footprint is the AXA UK Investment Company ICVC - UK Equity Income Fund, emitting over five times as much at 1,719 tonnes of CO2 per £1 million invested. While socially responsible investment funds generally have lower carbon footprints, some mainstream funds also performed well from an environmental perspective.
This document summarizes key trends in carbon pricing policies implemented around the world in 2017. It notes that as of September 2017, over 40 countries and 25 cities have adopted carbon pricing policies through carbon taxes or emissions trading schemes, covering around 25% of global greenhouse gas emissions. However, carbon prices are still perceived as too low to effectively support the low-carbon transition, with over 75% of regulated emissions covered by a price below €10 per ton of CO2. Explicit carbon prices are also not yet aligned with scientific recommendations to reach levels between $40-80/ton CO2 by 2020 and $50-100/ton by 2030 to achieve 2-degree climate goals.
- The document presents a study on the macroeconomic and environmental effects of carbon tax policies in Ethiopia.
- The study uses a computable general equilibrium model to simulate the impact of three carbon tax scenarios on key economic indicators, emissions, government revenues/expenditures, and household welfare.
- The results show that GDP, consumption, and exports decline under the carbon tax scenarios, while government revenues and expenditures increase. Household and labor incomes are negatively impacted while emissions are reduced. Higher carbon tax rates lead to greater changes from the baseline.
There is a recommendation from the Financial Stability Board that asset managers now report on the carbon exposure in their portfolios to manage climate-related risks.
This report assesses the carbon risks and opportunities of major
global equity indices.
A range of metrics reveals the carbon footprint of each index,
alongside exposure to fossil fuels, stranded assets, and renewable energy, as well as the energy mix alignment with 2°C scenarios.
The benchmark index with the lowest carbon footprint as of Dec. 31, 2016, was the S&P 500® Growth.
The document provides an overview of a mining and metals company including a financial analysis for 2011-2012. Revenue declined 8% from 2011 to 2012 while gross profit increased 5%. EBITDA declined 17% overall due to decreases in mining and smelting divisions. The company had a net loss in 2012 compared to a profit in 2011. In conclusion, macroeconomic conditions were depressed in 2012 and the company will focus on profitability and growth strategies in 2013.
Robert Rosenberg from SouthPole Group presents the results from a study that assessed the carbon footprint of the Nasdaq Helsinki listed companies in 2015. The study also compares the carbon-intensity of investments made in Nasdaq Helsinki and Nasdaq Stockholm and presents a global view.
Presentations given by Jouni Keronen (CLC), Stephanie Pfeiffer (IIGCC), Maximillian Horster (South Pole Group), Véronique Menou (MSCI ESG), Lauren Smart (Trucost), Yulia Sofronova and Sagarika Chatterjee (UN PRI) in a carbon foot printing workshop organised by FINSIF, IIGCC, Climate Leadership Council and Sitra.
La décarbonisation des portefeuilles d'investissementThe Shift Project
Présentation de Frédéric Samama, de chez Amundi, aux Ateliers du Shift Project du 9 juin 2015, questionnant les manières d'investir en réduisant son impact environnemental.
The document summarizes the key findings of a report from Trucost that ranks the carbon footprints of 44 UK investment funds totaling £45 billion in assets. The fund with the smallest carbon footprint is the Scottish Widows Investment Partnership UK & Income ICVC - Environmental Investor fund, emitting 337 tonnes of CO2 per £1 million invested. In contrast, the fund with the largest carbon footprint is the AXA UK Investment Company ICVC - UK Equity Income Fund, emitting over five times as much at 1,719 tonnes of CO2 per £1 million invested. While socially responsible investment funds generally have lower carbon footprints, some mainstream funds also performed well from an environmental perspective.
This document summarizes key trends in carbon pricing policies implemented around the world in 2017. It notes that as of September 2017, over 40 countries and 25 cities have adopted carbon pricing policies through carbon taxes or emissions trading schemes, covering around 25% of global greenhouse gas emissions. However, carbon prices are still perceived as too low to effectively support the low-carbon transition, with over 75% of regulated emissions covered by a price below €10 per ton of CO2. Explicit carbon prices are also not yet aligned with scientific recommendations to reach levels between $40-80/ton CO2 by 2020 and $50-100/ton by 2030 to achieve 2-degree climate goals.
- The document presents a study on the macroeconomic and environmental effects of carbon tax policies in Ethiopia.
- The study uses a computable general equilibrium model to simulate the impact of three carbon tax scenarios on key economic indicators, emissions, government revenues/expenditures, and household welfare.
- The results show that GDP, consumption, and exports decline under the carbon tax scenarios, while government revenues and expenditures increase. Household and labor incomes are negatively impacted while emissions are reduced. Higher carbon tax rates lead to greater changes from the baseline.
There is a recommendation from the Financial Stability Board that asset managers now report on the carbon exposure in their portfolios to manage climate-related risks.
This report assesses the carbon risks and opportunities of major
global equity indices.
A range of metrics reveals the carbon footprint of each index,
alongside exposure to fossil fuels, stranded assets, and renewable energy, as well as the energy mix alignment with 2°C scenarios.
The benchmark index with the lowest carbon footprint as of Dec. 31, 2016, was the S&P 500® Growth.
Please click on the image to open the Carbon Ranking Report which accompanies the Rankings. The report offers an analysis of the state of emissions reporting across the largest 300 companies in Europe.
Impact of climate change on London's economy - summary slidesLondon Assembly
The London Assembly Economy Committee has investigated the impact of climate change on London’s economy and has published a summary of views and information that assesses whether the Mayor and the London Enterprise Panel (LEP) are doing enough to support London’s businesses face the challenges and opportunities ahead.
This presentation discusses carbon footprints and carbon credits. It begins by defining greenhouse gases and carbon dioxide's role in climate change. It then explains what a carbon footprint is and how to calculate one, including direct and indirect emissions. Methods for reducing carbon footprints through energy efficiency are also outlined. The presentation concludes by discussing carbon credits and trading, how countries and organizations can earn credits by reducing emissions. India's growing involvement in the carbon credit market is also briefly mentioned.
Own it! Swedish Investments In Global Energy Sector and How Capital Affects C...Stefan Henningsson
Swedish investments in energy total around $50 billion annually. If all fossil fuel reserves owned by companies in Swedish investment portfolios were extracted and burned, it would lead to emissions of over 5 billion tonnes of CO2, far exceeding global carbon budgets. Swedish pension holders alone would be responsible for over 750 tonnes of emissions each. Transitioning investments to renewable energy is critical to avoid catastrophic climate change, but asset owners and managers currently lack incentives and mandates to properly account for climate risks and align investments with climate science.
This document discusses carbon footprints and carbon credits. It defines carbon footprints as the total greenhouse gas emissions for which an individual or organization is responsible, usually expressed in tons of carbon dioxide equivalent. It describes how to calculate a carbon footprint by quantifying sources of direct and indirect emissions. The document also explains carbon credits, which are certificates issued for reducing greenhouse gas emissions, and how carbon credits can be traded to help organizations limit their emissions.
Green Talks LIVE | Assessing the Economic Impacts of Environmental PoliciesOECD Environment
On 17 May 2021, OECD Chief Economist Laurence Boone launched a publication presenting evidence from a decade of OECD research and analysis, which looks at the relationship between environmental policies and economic outcomes such as employment, investment, trade and productivity. Over the years, governments have gradually adopted more rigorous environmental policies to tackle challenges associated with pressing environmental issues, such as climate change, air pollution, waste management or biodiversity loss. The ambition of these policies is, however, often tempered by their perceived negative effects on the economy.
In a world characterised by the rise in global value chains and capital flows, do differences in the stringency of environmental policies across countries alter firms’ competitiveness and cost jobs? Does taking the lead trigger a first-mover advantage? What are the differentiated impacts across firms, industries and regions? And are these policies effective in reducing emissions from industry?
We explored these questions in the context of the Covid-19 crisis and green recovery during a Green Talks LIVE webinar with insights on designing environmental policies to ensure the largest benefits and compensate workers and industries that may lose out. The presentation was followed by a panel discussion with guest speakers.
Introduction: Rodolfo Lacy, OECD Environment Director
Presentation of key findings: Laurence Boone, OECD Chief Economist
Panel discussion with:
• Al McGartland, Director, National Center for Environmental Economics, United States Environmental Protection Agency
• Clare Lombardelli, Chief Economic Adviser, HM Treasury, United Kingdom
• Riccardo Barbieri, Chief Economist, Italian Treasury
Moderated by: Shardul Agrawala, Head of the OECD Environment and Economy Integration Division
Find the report here: https://www.oecd.org/environment/assessing-the-economic-impacts-of-environmental-policies-bf2fb156-en.htm
Intro to the carbon emissions trading market.pptSahil731850
Jack Cogen, president of Natsource LLC, presented an analysis of the emerging carbon emissions trading market at a conference in Tokyo. He provided an overview of Natsource, described the basics of emissions trading, discussed the status of the Kyoto Protocol, and analyzed market activity and pricing. Cogen predicted that fragmented national markets will emerge through 2007, with VER prices below $5/ton and allowance prices varying by region from $2.50-15/ton. For 2008-2012, he expected global compliance markets and prices to develop, with AAU/CER prices in the range of $5-11/ton as increased supply meets growing demand.
Jack Cogen, president of Natsource LLC, presented an analysis of the emerging carbon emissions trading market at a conference in Tokyo. He provided an overview of Natsource, described the basics of emissions trading, discussed the status of the Kyoto Protocol, and analyzed market activity and pricing. Cogen predicted that fragmented national markets will emerge through 2007, with VER prices below $5/ton and allowance prices varying by region from $2.50-15/ton. For 2008-2012, he expected global prices to form, with regional differences narrowing and AAU/CER prices in the range of $5-11/ton as increased regulatory certainty stimulates supply.
Jack Cogen, president of Natsource LLC, presented an analysis of the emerging carbon emissions trading market at a conference in Tokyo. He provided an overview of Natsource, described the basics of emissions trading, discussed the status of the Kyoto Protocol, and analyzed market activity and pricing. Cogen predicted that fragmented national markets will emerge through 2007, with VER prices below $5/ton and allowance prices varying by region from $2.50-15/ton. For 2008-2012, he expected global prices to form, with Russian permits keeping prices in the $5-11/ton range as regulatory certainty increases demand and supply.
A carbon footprint is the amount of greenhouse gases—primarily carbon dioxide—released into the atmosphere by a particular human activity. A carbon footprint can be a broad meaasure or be applied to the actions of an individual, a family, an event, an organization, or even an entire nation.
This document discusses the development of initiatives in Scotland to help local authorities measure and reduce greenhouse gas emissions from their operations and communities. It describes the Scotland's Climate Change Declaration project which engaged all local authorities in commitments around emissions tracking and reduction. It also outlines the Local Footprints Project which uses the REAP software to calculate consumption-based carbon footprints for local authority areas and support reduction efforts. The document discusses aligning emission indicators used at the local and national levels and integrating efforts across sectors from individual to national scales.
Enagás Corporate strategy in times of crisis. Antonio Llardén, Enagás Executi...Enagás
This document summarizes a presentation given by Antonio Llardén, the Executive Chairman of Enagás, a Spanish natural gas company. The presentation discusses how Enagás faced the economic crisis by anticipating problems early, reacting with efficiency plans and financing changes, acting through investments and acquisitions, and explaining their strategies transparently. Key points included intensifying a cost control plan, acquiring new assets, expanding internationally, and improving corporate governance with policies like increasing board independence. Enagás met financial targets over the past six years despite economic challenges and transformed into a more internationally-focused company with strong results.
The document summarizes the methodology used by the Environmental Investment Organisation (EIO) to rank 800 large global companies based on their carbon emissions. The ranking methodology categorizes companies based on the public availability and verification of their emissions data, then ranks them based on their total scope 1, 2, and 3 emissions intensity. Companies with no public data are benchmarked against the highest industry intensity. The ranking is intended to encourage transparency and incentive emissions reductions. Overall, 55% of companies reported incomplete data, and only 21% had complete, public, and verified data for all scopes.
Siloxanes - Consumption, Toxicity & Alternatives - Resources for Healthy Children www.scribd.com/doc/254613619 - For more information, Please see Organic Edible Schoolyards & Gardening with Children www.scribd.com/doc/254613963 - Gardening with Volcanic Rock Dust www.scribd.com/doc/254613846 - Double Food Production from your School Garden with Organic Tech www.scribd.com/doc/254613765 - Free School Gardening Art Posters www.scribd.com/doc/254613694 - Increase Food Production with Companion Planting in your School Garden www.scribd.com/doc/254609890 - Healthy Foods Dramatically Improves Student Academic Success www.scribd.com/doc/254613619 - City Chickens for your Organic School Garden www.scribd.com/doc/254613553 - Huerto Ecológico, Tecnologías Sostenibles, Agricultura Organica www.scribd.com/doc/254613494 - Simple Square Foot Gardening for Schools - Teacher Guide www.scribd.com/doc/254613410 - Free Organic Gardening Publications www.scribd.com/doc/254609890 ~ miljoestyrelsen.dk
Carbon markets 101 introduces the market mechanisms under the Kyoto Protocol and related initiatives. It helps executives and managers understand emerging business issues around carbon trading, emission reduction projects and carbon monitoring.
OECD Green Talks Webinar: Carbon Pricing Trends - Measuring the MomentumOECDtax
Decarbonisation keeps climate change in check and contributes to cleaner air and water. Carbon pricing is a cost-effective means of reducing CO2 emissions, but countries are still not using this tool to its full potential to curb climate change. xperts from the OECD Centre for Tax Policy and Administration presented the key findings from their report on Effective Carbon Rates, which measures pricing of CO2-emissions from energy use in 42 OECD and G20 countries, covering 80% of world emissions, and provided a first appreciation of countries’ progress since 2012.
The document discusses several measures and datasets related to low carbon economies and trade in environmental goods and services:
1) The UK Low Carbon and Renewable Energy database surveys UK firms annually on activities related to low carbon energy, including turnover, employment, imports and exports. It covers sectors like wind, solar, bioenergy and energy efficiency.
2) The FTSE Russell Green Revenues database identifies over 3000 publicly listed companies globally engaged in green activities based on annual reports. It estimates their green revenues between $1.5-4 trillion annually.
3) UK trade data from HMRC is analyzed to study trade flows in 545 environmental goods defined across classifications. Issues with data quality and harmonization are noted.
This document provides an analysis of the energy sector in Central Europe, specifically analyzing Energetický a průmyslový holding (EPH) and CONSOL Energy Inc. It includes a STEEP industry analysis of the regions, Porter's Five Forces analysis, financial analyses including ratios, valuation methods, and discounted cash flow valuations for both companies. Strengths, weaknesses, opportunities and threats are identified for each company through SWOT analyses. Business strategies and recommendations are also provided.
A presentation on climate solutions and the results from Sitra's Green to Scale projects for international journalists visiting Finland on 31 October 2018. Presented by Leading specialist Outi Haanperä.
A presentation on the circular economy playbook by Sitra, Technology Industries Finland and Accenture for international journalists visiting Finland on 31 October 2018. Presented by Leading specialist Jyri Arponen.
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Please click on the image to open the Carbon Ranking Report which accompanies the Rankings. The report offers an analysis of the state of emissions reporting across the largest 300 companies in Europe.
Impact of climate change on London's economy - summary slidesLondon Assembly
The London Assembly Economy Committee has investigated the impact of climate change on London’s economy and has published a summary of views and information that assesses whether the Mayor and the London Enterprise Panel (LEP) are doing enough to support London’s businesses face the challenges and opportunities ahead.
This presentation discusses carbon footprints and carbon credits. It begins by defining greenhouse gases and carbon dioxide's role in climate change. It then explains what a carbon footprint is and how to calculate one, including direct and indirect emissions. Methods for reducing carbon footprints through energy efficiency are also outlined. The presentation concludes by discussing carbon credits and trading, how countries and organizations can earn credits by reducing emissions. India's growing involvement in the carbon credit market is also briefly mentioned.
Own it! Swedish Investments In Global Energy Sector and How Capital Affects C...Stefan Henningsson
Swedish investments in energy total around $50 billion annually. If all fossil fuel reserves owned by companies in Swedish investment portfolios were extracted and burned, it would lead to emissions of over 5 billion tonnes of CO2, far exceeding global carbon budgets. Swedish pension holders alone would be responsible for over 750 tonnes of emissions each. Transitioning investments to renewable energy is critical to avoid catastrophic climate change, but asset owners and managers currently lack incentives and mandates to properly account for climate risks and align investments with climate science.
This document discusses carbon footprints and carbon credits. It defines carbon footprints as the total greenhouse gas emissions for which an individual or organization is responsible, usually expressed in tons of carbon dioxide equivalent. It describes how to calculate a carbon footprint by quantifying sources of direct and indirect emissions. The document also explains carbon credits, which are certificates issued for reducing greenhouse gas emissions, and how carbon credits can be traded to help organizations limit their emissions.
Green Talks LIVE | Assessing the Economic Impacts of Environmental PoliciesOECD Environment
On 17 May 2021, OECD Chief Economist Laurence Boone launched a publication presenting evidence from a decade of OECD research and analysis, which looks at the relationship between environmental policies and economic outcomes such as employment, investment, trade and productivity. Over the years, governments have gradually adopted more rigorous environmental policies to tackle challenges associated with pressing environmental issues, such as climate change, air pollution, waste management or biodiversity loss. The ambition of these policies is, however, often tempered by their perceived negative effects on the economy.
In a world characterised by the rise in global value chains and capital flows, do differences in the stringency of environmental policies across countries alter firms’ competitiveness and cost jobs? Does taking the lead trigger a first-mover advantage? What are the differentiated impacts across firms, industries and regions? And are these policies effective in reducing emissions from industry?
We explored these questions in the context of the Covid-19 crisis and green recovery during a Green Talks LIVE webinar with insights on designing environmental policies to ensure the largest benefits and compensate workers and industries that may lose out. The presentation was followed by a panel discussion with guest speakers.
Introduction: Rodolfo Lacy, OECD Environment Director
Presentation of key findings: Laurence Boone, OECD Chief Economist
Panel discussion with:
• Al McGartland, Director, National Center for Environmental Economics, United States Environmental Protection Agency
• Clare Lombardelli, Chief Economic Adviser, HM Treasury, United Kingdom
• Riccardo Barbieri, Chief Economist, Italian Treasury
Moderated by: Shardul Agrawala, Head of the OECD Environment and Economy Integration Division
Find the report here: https://www.oecd.org/environment/assessing-the-economic-impacts-of-environmental-policies-bf2fb156-en.htm
Intro to the carbon emissions trading market.pptSahil731850
Jack Cogen, president of Natsource LLC, presented an analysis of the emerging carbon emissions trading market at a conference in Tokyo. He provided an overview of Natsource, described the basics of emissions trading, discussed the status of the Kyoto Protocol, and analyzed market activity and pricing. Cogen predicted that fragmented national markets will emerge through 2007, with VER prices below $5/ton and allowance prices varying by region from $2.50-15/ton. For 2008-2012, he expected global compliance markets and prices to develop, with AAU/CER prices in the range of $5-11/ton as increased supply meets growing demand.
Jack Cogen, president of Natsource LLC, presented an analysis of the emerging carbon emissions trading market at a conference in Tokyo. He provided an overview of Natsource, described the basics of emissions trading, discussed the status of the Kyoto Protocol, and analyzed market activity and pricing. Cogen predicted that fragmented national markets will emerge through 2007, with VER prices below $5/ton and allowance prices varying by region from $2.50-15/ton. For 2008-2012, he expected global prices to form, with regional differences narrowing and AAU/CER prices in the range of $5-11/ton as increased regulatory certainty stimulates supply.
Jack Cogen, president of Natsource LLC, presented an analysis of the emerging carbon emissions trading market at a conference in Tokyo. He provided an overview of Natsource, described the basics of emissions trading, discussed the status of the Kyoto Protocol, and analyzed market activity and pricing. Cogen predicted that fragmented national markets will emerge through 2007, with VER prices below $5/ton and allowance prices varying by region from $2.50-15/ton. For 2008-2012, he expected global prices to form, with Russian permits keeping prices in the $5-11/ton range as regulatory certainty increases demand and supply.
A carbon footprint is the amount of greenhouse gases—primarily carbon dioxide—released into the atmosphere by a particular human activity. A carbon footprint can be a broad meaasure or be applied to the actions of an individual, a family, an event, an organization, or even an entire nation.
This document discusses the development of initiatives in Scotland to help local authorities measure and reduce greenhouse gas emissions from their operations and communities. It describes the Scotland's Climate Change Declaration project which engaged all local authorities in commitments around emissions tracking and reduction. It also outlines the Local Footprints Project which uses the REAP software to calculate consumption-based carbon footprints for local authority areas and support reduction efforts. The document discusses aligning emission indicators used at the local and national levels and integrating efforts across sectors from individual to national scales.
Enagás Corporate strategy in times of crisis. Antonio Llardén, Enagás Executi...Enagás
This document summarizes a presentation given by Antonio Llardén, the Executive Chairman of Enagás, a Spanish natural gas company. The presentation discusses how Enagás faced the economic crisis by anticipating problems early, reacting with efficiency plans and financing changes, acting through investments and acquisitions, and explaining their strategies transparently. Key points included intensifying a cost control plan, acquiring new assets, expanding internationally, and improving corporate governance with policies like increasing board independence. Enagás met financial targets over the past six years despite economic challenges and transformed into a more internationally-focused company with strong results.
The document summarizes the methodology used by the Environmental Investment Organisation (EIO) to rank 800 large global companies based on their carbon emissions. The ranking methodology categorizes companies based on the public availability and verification of their emissions data, then ranks them based on their total scope 1, 2, and 3 emissions intensity. Companies with no public data are benchmarked against the highest industry intensity. The ranking is intended to encourage transparency and incentive emissions reductions. Overall, 55% of companies reported incomplete data, and only 21% had complete, public, and verified data for all scopes.
Siloxanes - Consumption, Toxicity & Alternatives - Resources for Healthy Children www.scribd.com/doc/254613619 - For more information, Please see Organic Edible Schoolyards & Gardening with Children www.scribd.com/doc/254613963 - Gardening with Volcanic Rock Dust www.scribd.com/doc/254613846 - Double Food Production from your School Garden with Organic Tech www.scribd.com/doc/254613765 - Free School Gardening Art Posters www.scribd.com/doc/254613694 - Increase Food Production with Companion Planting in your School Garden www.scribd.com/doc/254609890 - Healthy Foods Dramatically Improves Student Academic Success www.scribd.com/doc/254613619 - City Chickens for your Organic School Garden www.scribd.com/doc/254613553 - Huerto Ecológico, Tecnologías Sostenibles, Agricultura Organica www.scribd.com/doc/254613494 - Simple Square Foot Gardening for Schools - Teacher Guide www.scribd.com/doc/254613410 - Free Organic Gardening Publications www.scribd.com/doc/254609890 ~ miljoestyrelsen.dk
Carbon markets 101 introduces the market mechanisms under the Kyoto Protocol and related initiatives. It helps executives and managers understand emerging business issues around carbon trading, emission reduction projects and carbon monitoring.
OECD Green Talks Webinar: Carbon Pricing Trends - Measuring the MomentumOECDtax
Decarbonisation keeps climate change in check and contributes to cleaner air and water. Carbon pricing is a cost-effective means of reducing CO2 emissions, but countries are still not using this tool to its full potential to curb climate change. xperts from the OECD Centre for Tax Policy and Administration presented the key findings from their report on Effective Carbon Rates, which measures pricing of CO2-emissions from energy use in 42 OECD and G20 countries, covering 80% of world emissions, and provided a first appreciation of countries’ progress since 2012.
The document discusses several measures and datasets related to low carbon economies and trade in environmental goods and services:
1) The UK Low Carbon and Renewable Energy database surveys UK firms annually on activities related to low carbon energy, including turnover, employment, imports and exports. It covers sectors like wind, solar, bioenergy and energy efficiency.
2) The FTSE Russell Green Revenues database identifies over 3000 publicly listed companies globally engaged in green activities based on annual reports. It estimates their green revenues between $1.5-4 trillion annually.
3) UK trade data from HMRC is analyzed to study trade flows in 545 environmental goods defined across classifications. Issues with data quality and harmonization are noted.
This document provides an analysis of the energy sector in Central Europe, specifically analyzing Energetický a průmyslový holding (EPH) and CONSOL Energy Inc. It includes a STEEP industry analysis of the regions, Porter's Five Forces analysis, financial analyses including ratios, valuation methods, and discounted cash flow valuations for both companies. Strengths, weaknesses, opportunities and threats are identified for each company through SWOT analyses. Business strategies and recommendations are also provided.
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A presentation on climate solutions and the results from Sitra's Green to Scale projects for international journalists visiting Finland on 31 October 2018. Presented by Leading specialist Outi Haanperä.
A presentation on the circular economy playbook by Sitra, Technology Industries Finland and Accenture for international journalists visiting Finland on 31 October 2018. Presented by Leading specialist Jyri Arponen.
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2. 2
ISS-Ethix Climate Solutions
We provide holistic advisory and data in the area of climate
change and investments.
We help our clients
▪ understand climate change implications for their investments
and their investment impact on the climate
▪ measure climate impact, risk and opportunities
▪ act by reporting, investing and voting
2 Trillion+ EUR
Investments screened
for their climate risks
and impact
3. 3
2017 Report Structure
Topic 2017
Introduction
Overview of what is covered in the report – including the new features for
2017.
Key Trends in the Global
Market
Detailed analysis of key trends in the global market, covering events,
initiatives and approaches to climate change – expanded to cover more
topics than 2016.
Key Trends in the Finnish
Market
Full section dedicated to the Finnish market, covering key highlights, green
bonds and a case study on Elo.
Methodology
Full methodology and calculations, split into three sections covering Carbon
Footprinting, Climate Impact and Norm Based Research (new for 2017).
Analysis Findings
Split into three sections following the methodology order. Covering new
climate impact metrics and assessments, across 11 benchmark indices,
versus four in 2016.
Opportunities for Action
Using the understanding of the report – opportunities for investors to act
upon their climate impact.
4. 4
Where do investors stand on Climate Change?
2 Trillion+ EUR
Investments
screened for their
climate risks and
impact
Impact
Risk/ Opportunities
Ex-post
Measurement/
Disclosure
Ex-ante
Investment
Process
5. 5
Existing and Emerging Investment Climate Reporting Regimes
Where Who/ What Initiative Ask Standard
Global TCFD Self governance Voluntary No
Global Montreal Pledge Self governance Voluntary No
Global PRI Reporting Self governance Voluntary No
Global ISO 14097 Self governance Voluntary Yes
Global AODP Civil Society Voluntary No
Europe (EU) IORP Regulator Mandatory No
Europe (EU) High Level Expert Group Regulator tbc tbc
France Art 173 Regulator Mandatory No
California California Fossil Disclosure Regulator Mandatory Yes
Sweden AP funds Self governance Voluntary Yes
Switzerland FOEN (Ministry of the Environment) Regulator Voluntary Yes
Netherlands Platform Carbon Accounting Financials (PCAF) Self governance Voluntary Yes
the regime is already in place
regime to be expected
7. 7
Task
Screen the 129 companies of the Nasdaq Helsinki for their
carbon footprint, climate impact and ESG controversies.
Set the results in relation to investments into the index.
Compare the outcome against 11 other indices:
Nasdaq Stockholm, CAC 40, DAX, Euro Stoxx 50, Euro Stoxx 50
Low Carbon, FTSE 100, MSCI All Country World Index (ACWI),
MSCI World, Solactive Eurozone Low Carbon, Stoxx Global 1800
and Stoxx Global Climate Change Leaders.
Review and analyse the key sustainable finance topics globally
and specifically in Finland.
8. 8
Approach
Establish the carbon footprint and climate impact of all
companies within each of the 12 indices.
Relate results to each index investor’s «ownership» of these
companies to establish an «investment carbon footprint».
Complement this with climate impact analysis of constituents,
looking at transition risk, physical risk and climate goal
alignment.
Assess the ESG controversies across constituents.
9. 9
Comparison
Nasdaq
Helsinki
versus
Benchmark
EUR 1m invested into
the Nasdaq Helsinki and
the Benchmarks.
Nasdaq Helsinki’s
annual GHG exposure is
the 3rd highest of the 12
indices.
Nasdaq Stockholm is
less carbon intense
than two of the low
carbon indices.
Emissions Scope
1&2
(tCO2e/1mEUR)
Nasdaq Helsinki 199
Nasdaq Stockholm 41
CAC 40 UCITS ETF 386
Euro Stoxx 50 174
iShares Core Dax 295
iShares FTSE UCITS
ETF
143
iShares MSCI ACWI
ETF
143
iShares MSCI World 137
Stoxx Global 1800 138
Euro Stoxx 50 Low
Carbon
65
Solactive Eurozone
Low Carbon
105
Stoxx Global Climate
Change Leaders
32
11. 11
When including indirect emissions, the
intensity more than doubles
Nasdaq Helsinki Nasdaq Stockholm Solactive Eurozone Low Carbon
Scope 3 411 100 407
Scope 1 & 2 199 41 105
0
100
200
300
400
500
600
700
Emissions(tCO2e)
Scope 1, 2 & 3 Emissions
Scope 1 & 2 Scope 3
12. 12
…and makes
some other
indexes
more carbon
intense than
the Nasdaq
Helsinki
EUR 1m invested into
the Nasdaq Helsinki and
the Benchmarks.
Nasdaq Helsinki’s
annual greenhouse gas
exposure is the 5th
highest of the 12
indices.
Nasdaq Stockholm
remains less carbon
intense than two of the
low carbon indices.
Emissions Scope
1&2
(tCO2e/1mEUR)
Total Emissions
Scope 1,2 & 3
(tCO2e/1mEUR)
Nasdaq Helsinki 199 610
Nasdaq Stockholm 41 141
CAC 40 UCITS ETF 386 1,139
Euro Stoxx 50 174 705
iShares Core Dax 295 786
iShares FTSE UCITS
ETF
143 844
iShares MSCI ACWI
ETF
143 592
iShares MSCI World 137 564
Stoxx Global 1800 138 564
Euro Stoxx 50 Low
Carbon
65 303
Solactive Eurozone
Low Carbon
105 512
Stoxx Global Climate
Change Leaders
32 111
13. 13
An investment into the Nasdaq Helsinki provides 1/3
less carbon exposure than 2 years ago
0
50
100
150
200
250
300
350
2015 2016 2017
Emissions(tCO2e)
GHG Emissions per EUR 1m invested over time
Nasdaq Helsinki Nasdaq Stockholm
14. 14
Company
Portfolio
Weight
Emissions
Scope 1&2
(tCO2e)
Emission
Exposure (tCO2e/
EUR 1m)
Contribution to
total Emission
Exposure
1. NORDEA BANK AB 14.52% 10,911 0.0 0.02%
2. SAMPO OYJ-A SHS 9.11% 1,243 0.0 0.00%
3. KONE OYJ-B 8.38% 141,600 0.5 0.25%
4. NOKIA OYJ 8.07% 674,100 2.4 1.20%
5. TELIA CO AB 5.72% 287,000 1.0 0.51%
6. FORTUM OYJ 5.20% 18,895,500 67.1 33.75%
7. UPM-KYMMENE OYJ 4.91% 7,091,000 25.2 12.67%
8. NESTE OYJ 4.86% 3,433,359 12.2 6.13%
9. STORA ENSO OYJ-R 3.70% 3,390,000 12.0 6.06%
10. WARTSILA OYJ ABP 3.68% 117,052 0.4 0.21%
Four of the 10 highest weighted companies
account for almost 60% of emissions..
15. 15
…the 10 largest contributors account for over 90%
of emissions
Company
% of Total
Emissions
tCO2e/
1mEUR
in portfolio
Weight in
Portfolio
Source
1. FORTUM OYJ 33.75% 67.1 5.20% CSR
2. SSAB AB-A SHARES 18.44% 36.7 1.45% CDP
3. UPM-KYMMENE OYJ 12.67% 25.2 4.91% CDP
4. NESTE OYJ 6.13% 12.2 4.86% CDP
5. STORA ENSO OYJ-R 6.06% 12.0 3.70% CSR
6. FINNAIR OYJ 5.28% 10.5 0.58% CDP
7. OUTOKUMPU OYJ 3.78% 7.5 1.14% CDP
8. KEMIRA OYJ 1.66% 3.3 0.63% CDP
9. HUHTAMAKI OYJ 1.45% 2.9 1.34% CSR
10. VIKING LINE ABP 1.36% 2.7 0.06% APPROX
16. 16
31% of Nasdaq Helsinki constituents report
GHG emissions (33% in 2016 and 34% in 2015)
21. 22
Norm Based
Research
ranking split
Assessment Signal Score
Description of Assessment Report
Categories
RED 10 Verified failure to respect established norms
AMBER
9 Imminent failure to respect established norms
8 Alleged failure to respect established norms
7
Verified failure to respect established norms,
undergoing remediation
6 Fragmentary information
GREEN
5 Under observation
4 Undergoing remediation
3 Involvement beyond scope
2 Past involvement
1 (No allegation)
25. Be decision confident
in support of your
investment strategy.
Thank You
Dr. Maximilian Horster
Maximilian.horster@issethix.com
Managing Director, ISS-Ethix Climate Solutions
Hampus Hårdeman
hampus.hardeman@issethix.com
Associate Director - Institutional Sales