Concurrent Session: | 5 OCTOBER
Climate Action 101: Emission Reduction Strategies
DATE AND TIME
5 October 11:00 – 12:30 hrs (ICT)
Conference Room 3, UN Conference Centre Bangkok, Thailand
Climate change poses risks to business continuity and financial stability, while also threatening an array of human rights, including the right to life, the right to health and the right to livelihoods. Climate impacts on business operations and human rights can be mitigated by a commitment by business to reduce greenhouse gas emissions (GHG), while simultaneously strengthening shareholder and investor appetite to invest in green solutions.
Leading businesses in Asia are taking action to reduce their carbon emissions and to contribute to the transition to a low-carbon economy. Yet, many businesses are only at the start of their emissions reduction journey and may be confounded by the requirements of some regulatory entities.
This session on emission reduction strategies for business is informed by the work of the Task Force on Climate-related Financial Disclosures (TCFD). The TCFD is a global initiative established by the Financial Stability Board in 2015, created to develop a framework for all companies in multiple jurisdictions to disclose information related to their climate-related financial risks and opportunities.
The TCFD includes representatives from corporations, financial institutions, accounting and consulting firms, and non-governmental organizations. The TCFD disclosure framework is defined by a 5-step process involving governance, strategy, risk management, and metrics and targets. Several of these steps are similar to the approach outlined by the UN Guiding Principles on Business and Human Rights and its provisions on human rights due diligence practice. This session will unpack the 5-step approach in an easily digestible format to ensure that business can begin and thereafter, accelerate their emissions reduction journey.
The objective of this session is to familiarize business professionals to the steps necessary to reduce emissions from their operations and value chains leveraging international standards.
An instructor will guide participates through the TCFD reporting framework, pointing to best practices and case studies of successful emission reduction strategies implemented by businesses across different sectors. The instructor will include representatives from companies that have successfully reduced their emissions. The session will conclude with a Q&A session where participants can ask questions and engage in a discussion with the panelists.
Upon completion of the session, participants will:
Understand best practices of successful emission reduction strategies implemented by businesses across different sectors.
Understand how businesses can measure, report and reduce their emissions, including setting science-based targets.
Articulate the benefits of adopting emission reduction strategies, including cost savings, improved reputation, and increased competitiveness.