If so, is the greenhouse gas reduction policy aligned with the Paris agreement?

  • Radia Guira

The possible answers are:
– Yes
– No
If the answer is ‘Yes’, please provide with details in the comments section and/or attach any formalized document.

This question is asking if your company has a policy in place to reduce greenhouse gas emissions, and if so, whether this policy aligns with the goals stated in the Paris Agreement. The Paris agreement is an international treaty that aims to limit global warming to well below 2, preferably to 1.5 degrees Celsius, compared to pre-industrial levels.

Firstly, you need to state whether your company has a greenhouse gas reduction policy in place. This aims to understand if the company is conscious about its potential impact on global warming and if it has implemented strategies to offset this.

Secondly, if such a policy exists, the inquiry extends to whether this policy is in line with the Paris Agreement’s objectives. This means if the strategies proposed are intense and proactive enough to keep global temperature increase less than 2 degrees Celsius above pre-industrial levels, as outlined in the treaty.

Example: Yes, our company has a greenhouse gas reduction policy. We aim to reduce our emissions by 30% over the next decade, which is in line with the goals set by the Paris Agreement.

Understanding the Paris Agreement

The Paris Agreement is a historic international treaty adopted by nearly every nation in 2015 at the UN Climate Change Conference in Paris. Its main goal is to limit global warming to well below 2, preferably to 1.5 degrees Celsius, compared to pre-industrial levels. To achieve this ambitious target, each signatory country must present a clear plan for reducing greenhouse gas emissions, known as Nationally Determined Contributions (NDCs). These contributions are meant to be ambitious, representing a progression over time, and set forth to achieve the highest possible mitigation and adaptation efforts.

By understanding the core aspects of the Paris Agreement, which can be further explored through the key aspects of the Paris Agreement, companies can align their greenhouse gas reduction policies with the agreement’s objectives. The alignment involves setting science-based targets that are in line with the latest climate science required to meet the goals of the Paris Agreement.

Aligning Company Policies with the Paris Agreement

When completing questionnaires to calculate your Environmental, Social, and Governance (ESG) score, a critical question to address is whether your company’s greenhouse gas reduction policy aligns with the Paris Agreement. To say that a policy is aligned with the Paris Agreement, it must fulfill several criteria:

  • It should set specific, measurable, and time-bound targets for reducing emissions.
  • The targets should be consistent with the goal of limiting global warming to well below 2 degrees Celsius.
  • It should ensure regular monitoring, reporting, and verification of the company’s emissions and progress towards the targets.
  • The policy must be transparent, with clear communication to stakeholders about how the company is performing against its targets.
  • It should consider the company’s entire value chain, from direct operations to indirect activities such as purchased goods and services, business travel, and product use.

If your company’s policy meets these criteria, it can be considered aligned with the Paris Agreement. But alignment is not just about setting targets. It also requires implementing practices and strategies to achieve those targets. This could involve investing in renewable energy, improving energy efficiency, or developing new products and services that contribute to a lower carbon economy.

Calculating and Reporting Your Greenhouse Gas Emissions

To ensure your policy is aligned with the Paris Agreement, it’s essential to accurately calculate your company’s greenhouse gas emissions and track your progress. This involves identifying all sources of emissions within the company, collecting data on these emissions, and calculating your total carbon footprint. Tools and protocols like the Greenhouse Gas Protocol offer guidance on how to do this reliably.

Once you have calculated your emissions, setting a reduction target in accordance with the Paris Agreement involves looking at the broader Paris Agreement framework. This target should reflect the company’s fair share of global efforts to reduce greenhouse gas emissions. It’s also important to report these emissions and reduction efforts transparently, which can be done through platforms like the Carbon Disclosure Project (CDP) or included in your company’s sustainability report.

In conclusion, aligning your greenhouse gas reduction policy with the Paris Agreement is an integral part of improving your company’s ESG score. It shows a commitment to combating climate change and a willingness to set and achieve ambitious targets. As you work through your ESG questionnaire, ensure that each response reflects a thorough understanding of your company’s environmental impact and the steps it is taking to reduce it. By doing so, you not only contribute to a more sustainable future but also build trust with stakeholders who are increasingly valuing climate-conscious practices.