Companies can play a crucial role in the fight against climate change. Helping companies and organisations improve their climate leadership is an important part of CLC’s mission.
Our annual spring meeting focused on three key tools for systematic climate strategy, business development and reporting: TCFD, science-based targets and carbon handprint. They were presented through cases from our member companies.
Hanna Kaskela, Director, Responsible Investment from pension company Varma talked about the institutional investor’s point of view and how they set increasingly stringent climate criteria for portfolio investments.
The recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) provide a framework for companies to give more well-rounded information on how climate-related mitigation and adaptation costs, risks and business opportunities affect their financial performance.
To help member companies get started with implementing the TCFD recommendations, we have announced a TCFD challenge that all members are welcome to join.
Johan Holm, VP Carbon Neutrality at renewable materials company Stora Enso, talked about how they have adopted a strategic approach to combating global warming. Science-based targets are a key instrument in Stora Enso’s approach.
According to Holm, Stora Enso was the first forest products company to set externally approved science-based targets to reduce its greenhouse gas (GHG) emissions. Since the approval of their ambitious science-based targets in 2017, the company has been top-ranked in greenhouse gas management and performance by the Transition Pathway Initiative. In 2018, Stora Enso launched a Green Bond Framework as part of its Sustainable Finance approach and successfully issued its first green bonds in February 2019.
In addition to reducing their own climate impact, many of CLC’s members also offer solutions that help other organisations reduce theirs. Outotec, a technology provider for the metal industry, has calculated and verified a carbon handprint for seven of their products. According to Ilkka Kojo, Senior Advisor, Technology Outotec’s customers have avoided around 6.2 million tons of carbon emissions in 2018.
Vesa Siitari, Head of Sales and Sustainability at IT service provider Atea talked about how more efficient circular economy practices would help reduce massive amounts of electronic waste. According to Siitari, the amount of e-waste is expected to grow to 120 million tonnes annually by 2050. Atea is collaborating closely with ICT manufacturers to change operating and design practices to accommodate better material efficiency.
If your organisation is interested in calculating a carbon handprint for a product or service, we have great news for you. CLC’s carbon handprint challenge has been launched, and all members are welcome to join.
The spring seminar was closed by CLC’s chairman Henrik Ehrnrooth and executive director Jouni Keronen, who gave a preview of CLC’s upcoming concept paper for a systemic solution to climate change. More information to follow soon, stay tuned!