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Coal phase out forms key part of government’s Net Zero strategy

 960 640 Stuart O'Brien
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The deadline for the phase-out of coal from Britain’s energy system is planned to be brought forward a year to 1 October 2024, as outlined by the prime minister in a speech to launch COP26.

The government will consult on bringing the deadline for ending unabated coal forward from 2025 to 2024, part of its drive to go further and faster on decarbonising the power sector, as it works towards net zero by 2050.

New statistics show the UK’s greenhouse gas emissions fell by 2.1% between 2017 and 2018, thanks in large part to the rapid decline of coal-powered electricity generation. Last year more than half of the UK’s electricity came from low-carbon sources.

This means the UK has cut its emissions by 43% since 1990 while growing the economy by more than two thirds – which the government says is the best performance of any G7 nation.

Business and Energy Secretary Andrea Leadsom said: “The UK has a proud record in tackling climate change and making the most of the enormous economic potential of clean technologies. This is my number one priority, and we will raise our ambition in this year of climate action. Coal-generated energy will soon be a distant memory as we plan to decarbonise every sector of our economy, enabling a greener future for all our children.”

The government will also bring forward an end to the sale of new petrol and diesel cars and vans to 2035, or earlier if a faster transition is feasible, subject to consultation, as well as include hybrids for the first time.

Coal is the most carbon intensive fossil fuel and is responsible for harmful air pollution. Last year Great Britain went 3,700 hours without using coal for power, nearly 5 times more than the whole of 2017. There are currently 4 active coal generators, one of which has announced closure in March 2020.

Britain was one of the first countries in the world to commit to ending unabated coal generation. Existing policies are already cutting our reliance on coal from around 40% in 2012 to less than 3% in 2019. The contribution of renewables is now at record levels, standing at 33%.

New Net-Zero Assets Alliance signatories push initiative to $3.9 trillion

 960 640 Stuart O'Brien
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AXA, Aviva, CNP Assurances and Fonds de Réserve pour les Retraites (FRR) have joined the UN-convened Net-Zero Asset Owner Alliance, raising total assets under management targeting carbon neutrality by 2050 to more than $3.9 trillion.

The Alliance is a group of the world’s largest pension funds and insurers committing to fully decarbonise their portfolios to avoid a global temperature increase above 1.5°C. Launched in September at the Climate Action Summit, it was initiated by Allianz, Caisse des Dépôts (CDC), La Caisse de dépôt et placement du Québec (CDPQ), Folksam Group, PensionDanmark, and Swiss Re, who were joined by Alecta, AMF, CalPERS, Nordea Life and Pension, Storebrand and Zurich as founding members.

Eric Usher, Head of the UNEP Finance Initiative (UNEP FI), said: “The addition of four significant asset owners signals growing commitment by investors to align their portfolios with the ambitious 1.5°C target that goes beyond even the level of ambition reflected in the Paris Agreement. Concerted investor action led by the Alliance signals to financial markets that making entire portfolios net zero carbon is now clearly on the agenda.”

Now 16-strong, the Alliance actively encourages additional investors to join by committing to a net-zero portfolio by 2050 in support of a global economy that delivers emissions reductions in line with scientifically determined targets.

This is see as critical in light of recent evidence from UN Environment Programme’s Emissions Gap Report, which found collective ambition must increase more than fivefold over current levels to deliver the cuts needed over the next decade to achieve the 1.5°C goal. The Intergovernmental Panel on Climate Change (IPCC) has warned that going beyond 1.5°C will increase the frequency and intensity of climate impacts, such as the heatwaves and storms witnessed across the globe in the last few years. In the report, UNEP said the world must deliver deep cuts to emissions – over 7 per cent each year for the next decade.

The Alliance will also use its powerful voice to engage with governments and ask them to urgently increase their Nationally Determined Contributions ambitions. According to the Emissions Gap report, G20 nations collectively account for 78 per cent of all emissions, but seven of them do not yet have policies in place to achieve their current NDCs, let alone strategies for transformative climate commitments at the breadth and scale necessary.

Convener of Mission 2020 Christiana Figueres, former Executive Secretary of the UN Framework Convention on Climate Change (UNFCC), said: “Reaching net zero emissions by 2050 is a global imperative made clear by science, with huge benefits for all of society.

“We are all better off when finance is flowing towards a liveable future, and today’s announcement makes clear that investors are committed to that pathway. That the world’s asset owners are collaborating unequivocally to limit warming to 1.5°C should be a real boost for all governments preparing to step up their own commitments under Paris in 2020,” she added.

PRI CEO Fiona Reynolds said: “Asset Owners have a key role to play in driving much needed ambition to address the climate emergency. In joining the Alliance, the new members stand alongside founding asset owners in committing to achieve carbon neutral portfolios by 2050. We hope that the leadership shown by members of the Alliance will compel other investors to act urgently to align their portfolios with a 1.5°C scenario and to play their role in meeting the Paris Agreement.”

By joining the Alliance, members hold themselves accountable on progress by setting and publicly reporting on intermediate targets in line with the Paris Agreement. The Alliance has already begun the process of establishing a work plan for 2020.

The Alliance says members will ramp up engagement with the companies in which they are invested, working together with initiatives such as the UN Global Compact Business Ambition for 1.5°C, the Investor Agenda, the Science Based Targets initiative and Climate Action 100+.

Convened by UNEP’s Finance Initiative and the Principles for Responsible Investment (PRI), the Alliance is supported by WWF and is part of the Mission 2020 campaign, an initiative led by Figueres, former Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC).

Grosvenor commits to net zero carbon operational emissions goal

 960 640 Stuart O'Brien
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Major London Property owner Grosvenor Britain & Ireland (GBI) has committed to achieving net zero carbon operational emissions from all its directly managed buildings, including historic listed buildings by 2030.

The business will also report on, and seek to significantly reduce, its embodied carbon emissions – carbon created through associated supply chain and tenant activities. 

To achieve these targets, GBI will eliminate carbon emissions under its control and sustainably design and construct and operate net zero ready buildings, enabling occupiers to reduce or eradicate carbon emissions from their own operations. 

Grosvenor’s portfolio includes its historic London estate of Mayfair and Belgravia encompassing landmarks such as Eaton Square, Grosvenor Square, Mount Street and Victoria Coach Station.

It has also launched a Supply Chain Charter, which commits the business, together with its suppliers, to higher environmental and ethical standards, deepening GBI’s broader contribution to the communities it is active in. 

Key highlights of the commitment include:-

·     Becoming zero carbon:

o  By 2030, GBI will achieve net zero carbon operational emissions from all its directly managed buildings, including listed buildings.

o  GBI will report on, and seek to significantly reduce, the carbon emissions embodied in its supply chain, developments and tenant activity by 2030.

o  The business’ portfolio, including 147 acres of public realm on its London estate, will aspire to be climate positive+ by 2050.

·     Becoming zero waste:

o  GBI will eradicate all waste from buildings and developments in its control by 2030.

o  By working with customers and stakeholders, the business will aspire to eliminate waste from communities where it operates by 2050.

·     Valuing nature:

o  By 2030, GBI’s portfolio will have achieved a significant net biodiversity gain, responding to the need to halt the decline of the UK’s wildlife and restore ecosystems.

o  The business will fully map the materials in its supply chain by 2025 to ensure sustainable provenance.

o  GBI aspires to be water neutral by 2050.

Craig McWilliam, CEO, Grosvenor Britain & Ireland, said: “Recent events simply reinforce our view that companies need to have a wholesale rethink on how they use their influence to halt the worsening impacts of climate change. As one of London’s largest property companies and with a growing business bringing forward large scale housing developments, we recognise the far-reaching impact a change in our behaviour can have.

“While we are on track to halve carbon emissions on our London estate by 2023, many of the tools and technologies needed to help us meet these targets are yet to be developed and tested. To be successful, our commitments will require us to work collaboratively and innovate. 

“Through these targets and by working with our supply chain and tenants we can, for example, stimulate the design, construction and operation of zero carbon neighbourhoods at scale.”

In addition, it is bringing forward housing developments in London, Oxfordshire and Cambridgeshire, including a pipeline of 15,000 homes across new neighbourhoods delivered through its Strategic Land business. 

Supply Chain Charter Launch

Grosvenor Britain & Ireland has also unveiled a Supply Chain Charter, which commits the business together, with its suppliers, to higher environmental and ethical standards including: 

·       No diesel to be used on the London estate by 2025 and prioritisation of electric equipment.

·       Make a presumption in favour of sustainably sourced materials in design and procurement.

·       Help the business fundamentally change the way its buildings and public realm are designed, constructed and operated.

·       Payment of the Local Living Wage to staff, including apprentices and interns. In 2014, GBI was one of the first UK property companies to pay the London Living Wage to staff and suppliers. 

·       Exclusion of zero-hours contracts, unless requested by the employee.

·       Committing to prompt and fair payment of their own supply chain.

·       Help create inclusive and equitable opportunities for employment in the communities in which GBI is active.

McWilliam added: “If we are truly serious about delivering and accelerating positive change we must partner with those who share our values and ambitions.

“By pushing ourselves to go further, faster these stretching targets will help deliver a better future for the communities we operate in today and future generations. We cannot achieve the change needed alone – together we can achieve more.” 

GBI has more than 1,800 suppliers and will expect all to adhere to, and cascade, relevant charter commitments.  The business says it will work with its partners, and has established a supporting network of expert organisations who will provide advice at no additional cost, to help them achieve the charter’s aims.

GUEST BLOG: Taking cleaning carbon neutral

 960 640 Stuart O'Brien
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Lara Coutinho, ABM UK’s newly appointed Environment and Sustainability Manager reflects on the path to going carbon neutral…

In the contemporary marketplace, green initiatives are not just about acting responsibly for local communities and future generations, but are also essential to remaining competitive. 

This is why sustainability products, such as ABM GreenCare and Leadership in Energy & Environmental Design certification (LEED), are designed to support our customers to reach their green targets, whether that’s for cleaning products that minimise environmental and air pollution, lowering the energy involved in waste disposal or minimising the amount of water used in cleaning. However, it’s not enough to help others; we also need to ensure we’re “walking the walk” ourselves.

One of my aims over the next two to five years is to focus on ways in which ABM UK can move toward becoming carbon neutral. This means minimising (and eventually stopping production of) carbon dioxide (CO2); the greenhouse gas that increases acidity in the oceans and contributes to the planet’s warming. Where we produce CO2 in our cleaning operations and running our business generally we are exploring initiatives to support our sustainability targets, from planting trees and bio-diverse landscaping to unique site-specific technical solutions, created in alignment with our customer’s values.  

ABM UK will also be continuing to champion the benefits of eco-friendly cleaning products to our customers and the wider FM industry. My experience in planning and operational roles at major sporting events, including the rigorous testing grounds of the Rio 2016 Summer Paralympics and the Gold Coast 2018 Commonwealth Games, drummed home to me the benefits of these products. Not only do they clean to high standards, they also reduce energy and operating costs, protect air quality, preserve natural resources and enhance brand reputation. 

We’ll also look at ways to optimise and roll out the excellent ABM products already in existence, driving greater usage and pick up. This includes continuing the switch to renewable energy sources, something already started through our partnership with Bulb Energy, the clean energy providers, and our internal GreenShop programme which gives employees subsidised access to eco-friendly products.  

Another focus area is innovation and the new systems addressing carbon emissions, water use and waste disposal in exciting ways. The team behind BioWhale, a bio-digestor for food waste, for example, is doing an excellent job supporting our cleaning contract at Cabot Circus Shopping Centre in Bristol. Biowhale works by sending food waste to anaerobic digestion to be converted into electric or gas energy and fertiliser, and recently won a Green Apple Award for ‘Environmental Best Practice in Property & Waste Management’. The process saw 100% of food waste from restaurants and cafes being recycled, as well as the use of plastic bags for food waste being eliminated. It’s an innovative take on circular consumption that demonstrates some of the developing products that are out there.

Finally, we’ll also focus on behaviour change and shifting people’s actions on a consistent, day-to-day basis. Often people don’t see how the things they do every day can help the overall picture. Perceptions can be entrenched. A small thing that can make a big difference includes introducing a pledge wall for our teams.  A pledge wall asks individuals to leave a visual record of their commitments to making a difference, which can be simple things such as “I will avoid single use plastic, ” or “I will ensure I’m recycling properly”. Through the pledge wall, our teams and our customers can start to see what’s possible, have a degree of accountability and begin to see the potential of their own ability to enact positive change.  

Looking at the bigger picture, reducing our carbon footprint and becoming more sustainable is something which will touch all areas of the company and feed into our business and financial objectives. We believe that the day on which we will be able to describe ABM UK as  ‘carbon neutral’ is not too far in the future!  

Government told to be ‘ambitious’ on UK’s emissions goals

 960 640 Stuart O'Brien
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The UK can end its contribution to global warming within 30 years by setting an ambitious new target to reduce its greenhouse gas emissions to zero by 2050, the Committee on Climate Change (CCC) has said.

Ten years after the Climate Change Act became law, the Committee says now is the right moment to set a more ambitious goal – it asserts that achieving a ‘net-zero’ target by the middle of the century is in line with the UK’s commitment under the Paris Agreement; the pact which the UK and the rest of the world signed in 2015 to curb dramatically the polluting gases that cause climate change.

Scotland has greater potential to remove pollution from its economy than the UK overall, and can credibly adopt a more ambitious target of reaching net-zero greenhouse gas emissions (GHGs) by 2045.

Wales has slightly lower opportunities than the UK as a whole, and should adopt a target for a 95% reduction in greenhouse gas emissions by 2050, compared to 1990 levels.

The CCC says now is a crucial time in the global effort to tackle climate change. Global average temperature has already risen by 1°C from pre-industrial levels, driving changes in our climate that are apparent increasingly. In the last ten years, pledges to reduce emissions by the countries of the world have reduced the forecast of global warming from above 4°C by the end of the century to around 3°C.  Net-zero in the UK would lead the global effort to further limit the rise to 1.5°C.

The Intergovernmental Panel on Climate Change (IPCC) has emphasised the vital importance of limiting further warming to as low a level as possible and the need for deep and rapid emissions reductions in order to do so.

The CCC’s recommended targets, which cover all sectors of the UK, Scottish and Welsh economies, are achievable with known technologies, alongside improvements in people’s lives, and should be put into law as soon as possible, the Committee says.

Falls in cost for some of the key zero-carbon technologies mean that achieving net-zero is now possible within the economic cost that Parliament originally accepted when it passed the Climate Change Act in 2008.

The Committee’s report, requested by the UK, Scottish and Welsh Governments in light of the Paris Agreement and the IPCC’s Special Report in 2018, finds that:

  • The foundations are in place throughout the UK and the policies required to deliver key pillars of a net-zero economy are already active or in development. These include: a supply of low-carbon electricity (which will need to quadruple by 2050), efficient buildings and low-carbon heating (required throughout the UK’s building stock), electric vehicles (which should be the only option from 2035 or earlier), developing carbon capture and storage technology and low-carbon hydrogen (which are a necessity not an option), stopping biodegradable waste going to landfill, phasing-out potent fluorinated gases, increasing tree planting, and measures to reduce emissions on farms. However, these policies must be urgently strengthened and must deliver tangible emissions reductions – current policy is not enough even for existing targets.
  • Policies will have to ramp up significantly for a ‘net-zero’ emissions target to be credible, given that most sectors of the economy will need to cut their emissions to zero by 2050. The Committee’s conclusion that the UK can achieve a net-zero GHG target by 2050 and at acceptable cost is entirely contingent on the introduction without delay of clear, stable and well-designed policies across the emitting sectors of the economy. Government must set the direction and provide the urgency. The public will need to be engaged if the transition is to succeed. Serious plans are needed to clean up the UK’s heating systems, to deliver the infrastructure for carbon capture and storage technology and to drive transformational change in how we use our land.
  • The overall costs of the transition to a net-zero economy are manageable but they must be fairly distributed. Rapid cost reductions in essential technologies such as offshore wind and batteries for electric vehicles mean that a net-zero greenhouse gas target can be met at an annual cost of up to 1-2% of GDP to 2050. However, the costs of the transition must be fair, and must be perceived as such by workers and energy bill payers. The Committee recommends that the Treasury reviews how the remaining costs of achieving net- zero can be managed in a fair way for consumers and businesses.

Lord Deben, Chairman of the Committee on Climate Change, said: “We can all see that the climate is changing and it needs a serious response. The great news is that it is not only possible for the UK to play its full part – we explain how in our new report – but it can be done within the cost envelope that Parliament has already accepted. The Government should accept the recommendations and set about making the changes needed to deliver them without delay.”

Welsh government sets out carbon goals

 960 640 Stuart O'Brien
By:

The Welsh Government has published what it calls a ‘robust and detailed cross-government plan’ to cut emissions and fight climate change.

Prosperity for All: A Low Carbon Wales sets out how the country will meet its first carbon budget and lays the foundations for it will achieve an ambitious target of reducing the greenhouse gas emissions by at least 80% by 2050.

It sets out 100 priorities and policies across all areas of government, including:

  • Increasing tree planting to initially at least 2,000 hectares per year and then to double that to 4,000 hectares as rapidly as possible
  • Commissioning an independent feasibility study on carbon capture use and storage
  • Reducing emissions from power generation in Wales, including using our consenting, planning and permitting powers and developing a policy position on the fuels used to generate power
  • Encouraging take-up of electric vehicles by developing a rapid charging network
  • A bold ambition for buses, taxis and private hire vehicles to be zero emission  by 2028
  • Reviewing building regulations to explore how higher energy efficiency standards can be set for new builds
  • Working with partners to include more about sustainability and decarbonisation in the new curriculum
  • Providing fruit and fuel trees for the entire Mount Elgon region in Uganda by 2030.

The First Minister will confirm £4 million to support community-led low carbon projects. This includes £1.3 million for CARE – a community benefit society in Pembrokeshire, to help the Cwm Arian community become a low-carbon community.

A Low Carbon Wales was launched at the Coal Exchange in Cardiff – once the heart of the global coal trade – in a symbol of Wales’ commitment to move forward and become a leader in clean energy technologies.

The plan is the result of collaborative working, with input from people and organisations across Wales, including young people.

The First Minister said: “It’s impossible not to be inspired by the passion we have seen from younger generations, although I wouldn’t advocate young people missing school.

“Our younger generations recognise the action we fail to take to make improvements to our environment now could have catastrophic consequences for their futures.

“In Wales, we developed and introduced ground-breaking legislation, requiring us to consider the impact the decisions and policies we make will have on future generations.

“This is why we are inviting young people to be a part of the conversation, to help embolden us to make the changes that are needed for their future.”

Cardiff University has been selected to lead a new £5 million centre to explore how to achieve the rapid and far-reaching emissions cuts required to address climate change.

It will focus on challenging areas of everyday life that contribute substantially to climate change, but which have proven stubbornly resistant to change. These include consumption of goods and physical products, food and diet, travel, and heating/cooling in buildings.

Welsh Government says it has worked closely with researchers at Cardiff University and its other partner organisations to shape the projects planned by the Centre.

The new Centre’s Director, Professor Lorraine Whitmarsh of Cardiff University, said: “While there is now international momentum on action to tackle climate change, it is clear that critical targets, such as keeping global temperature rise to well within 2 degrees Celsius relative to pre-industrial levels, will be missed without fundamental transformations across all parts of society.

“At the Centre for Climate Change and Social Transformations we recognise that climate change is an emergency that requires action on a far greater scale than has been seen so far. Prosperity for All: A Low Carbon Wales recognises that everyone has a role to play. We will address the fundamental question of how we can live differently and better, in ways that meet the need for these systemic, deep and rapid emission reductions.”

Shell ties exec pay to carbon reduction targets

 960 640 Stuart O'Brien
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Shell is linking its executive pay to carbon emissions reduction targets as part of a plan developed with its institutional investors on behalf of Climate Action 100+, an initiative led by investors with more than $32 trillion in assets under management.

The company aims to reduce the Net Carbon Footprint of its energy products by around half by 2050, and by around 20% by 2035, in step with society’s drive to meet the goals of the Paris Agreement.

Shell says it’s building on that long-term ambition with the commitment to setting specific Net Carbon Footprint targets for shorter periods, of three or five years.

It will set the target each year, for the following three- or five-year period. The target setting process will start from 2020 and will run to 2050.

Shell plans to link these targets and other measures to its executive remuneration policy. The revised remuneration policy will be put to shareholders for approval at the company’s Annual General Meeting in 2020.

The announcement is part of a drive to increase transparency around the topic of climate change, and to create clear benchmarks for performance.

Shell will publish its progress towards lowering the Net Carbon Footprint of its energy products initially in the Sustainability Report.

In line with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), Shell intends to integrate this disclosure into the Annual Report and Form 20-F as appropriate. The company will seek third-party assurance of the reported Net Carbon Footprint.

“Meeting the challenge of tackling climate change requires unprecedented collaboration and this is demonstrated by our engagements with investors,” said Shell Chief Executive Officer Ben van Beurden. “We are taking important steps towards turning our Net Carbon Footprint ambition into reality by setting shorter-term targets. This ambition positions the company well for the future and seeks to ensure we thrive as the world works to meet the goals of the Paris Agreement on climate change.”

“We applaud the joint statement by Shell and lead investors for Climate Action 100+,” said Anne Simpson, the inaugural Chair of the Climate Action 100+ Steering Committee and Director of Board Governance and Strategy at the California Public Employees’ Retirement System (CalPERS). “The commitment by Shell to fully respond to the engagement shows the value of dialogue and global partnership to deliver on the goals of the Paris Agreement on climate change. Shell is setting the pace, and we look forward to other major companies following its lead.”

Peter Ferket, Chief Investment Officer of Robeco, said: “When it comes to meeting the demands of the Paris Agreement on climate change, we believe it is necessary to strengthen partnerships between investors and their investee companies to accelerate progress towards reaching such an ambitious common goal. This joint statement is an example of such a partnership. As institutional investors in Shell we continue to support Shell on its journey in the energy transition, aiming for other companies to follow suit.”

The full text of the joint statement is available here: https://www.shell.com/media/news-and-media-releases/2018/joint-statement-between-institutional-investors-on-behalf-of-climate-action-and-shell.html

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