Ophir Bruck

The Science Based Targets initiative (SBTi) has unveiled a raft of revisions and resources designed to help financial institutions set ambitious near-term emissions reduction targets. The changes to #SBTi criteria are set to come into force on 30 November 2024. Under the new criteria, financial firms with validated targets must align their operational and power emissions from a pathway aligned with "well-below" 2C of warming to one aligned with 1.5C of warming. They must also meet #Scope1 and #Scope2 emissions reduction targets in a five-to-10-year timeframe, down from the five-to-15-year window they were afforded previously, according to the SBTi. #Sustainability #ESG #NetZero #Climatetargets

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It's all in the article but we hope the government sees little need to lower the auction floor price. Certainly based on previous comments where they have a strong desire for the ETS be left alone to do its work means precisely that. As I've stated previously on more than one occasion, if the ETS is left to work its way through the next 6 to 12 months, should see prices revert back towards the 2025 floor. One point that officials should consider, is running auctions on a more regular basis - perhaps up to 10 a year - monthly from January to October. The volume would be easier to clear and not create the situation where an insurmountable amount gets created. Personally - I think it would make for a better sync between the spot and futures market. Food for thought and interested in your comments and feedback on that.

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🌍 Want to commercialize your climate tech in the United States? Discover how small federal grants can be your stepping stone. In the last 3 years, the U.S. Department of Energy (DOE) has transformed. More funding for large-scale demonstrations is now available thanks to the Bipartisan Infrastructure Law and the Inflation Reduction Act. But did you know small federal grants can be just as impactful? Here's why: - DOE prefers funding companies they know. Small grants help you get on their radar. - Smaller grants are great for learning the ropes of federal funding. It's a practical way to understand the process and requirements. - Success with small grants can lead to bigger opportunities. Proving your capability with smaller projects can open doors to larger funding. Early engagement and consistent interaction with DOE can make a significant difference. Engaging early isn’t just about applying for funds; it's about building a presence and showcasing your potential. The DOE has set up entirely new programs and hired numerous program managers. They’ve run merit review processes for nearly a trillion dollars and selected over 1,000 projects. This transformation means more opportunities than ever, but the competition is fierce. To stand out, consider subrecipient opportunities within larger projects. These can be excellent ways to access federal support without going through the traditional funding process. Annual appropriations also offer smaller dollar awards, which are great for getting your feet wet. 📩 DM me or email [email protected] for expert tips on securing federal funds. #Innovation #Funding #Cleantech

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We have seen a flurry of regulatory activity on the part of U.S. Agencies lately, including the Environmental Protection Agency (tailpipe emissions, coal power plants) and the Federal Energy Regulatory Commission (transmission infrastructure planning). All of which stand to deliver strong environmental benefits. For context, under the Congressional Review Act, Congress has 60 legislative days to review and potentially cancel a newly promulgated federal regulation. That short time window takes all its relevance with the approach of US elections. In the background, two critical cases are being heard at the U.S. Supreme Court involving another Agency this time the National Marine Fisheries Service. How is this related? They may result in a significant weakening of the Chevron doctrine, a cornerstone of administrative law guiding judicial deference to regulatory agencies' interpretations of statutes. Who ends bearing the cost for observers on herring fishing boats suddenly takes a critical importance…! https://lnkd.in/gfZuHkXw

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This is for read carefully. https://lnkd.in/eA8tXyTP

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📰 The Billion-Ton Carbon Reduction Opportunity of Clean Cooking 📰 Thanks to Clean Cooking Alliance (CCA) for letting me share my thoughts on how carbon markets can support the financing of clean cooking and how clean cooking can be a barometer for the wider success of carbon credits. Does an instrument that has the potential to help solve for energy poverty, improve health and empower women and girls whilst putting a price on pollution to incentivise decarbonisation have value in today's society? ** 👩‍👧‍👧IEA (2023), Net greenhouse gas emissions annual savings from clean cooking access in the Access for All scenario by 2030, IEA, Paris CC BY 4.0 https://lnkd.in/dZsi6Xa6 👩‍👧‍👧**

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Two lessons for carbon markets in a recent Environmental Defense Fund blog: 1️⃣ "Companies purchasing carbon credits should focus near-term financing on the solutions with the strongest scientific foundations. That means doubling down on high quality forest carbon credits." 2️⃣ "...there is, unfortunately, insufficient confidence in the scientific foundations underlying carbon crediting for several other nature-based climate solutions at this point in time.... companies should exercise caution when it comes to purchasing carbon credits from solutions that do not yet have sufficiently solid scientific foundations." Aurora is proud to deliver high-integrity, verified forest carbon credits - enabling greater climate impact for organizations of all shapes and sizes while conserving American forestland. Want to learn more? Reach out to [email protected]. https://bit.ly/3QgOtwa

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My colleague, Adam Guerino, recently spoke on a panel with the Sustainability Management program at Columbia University. https://lnkd.in/givD2iSc While we're seeing more bond issuance for nature-based and biodiversity outcomes, impact measurement remains a headwind. In the panel discussion, Adam expressed the need for consistent and assessable biodiversity measures that can be priced – much like a ton of CO2 can be priced into a carbon credit. In order to scale nature-based solutions, private capital from investors and asset owners will play a large part. When you can assign a price to an outcome, it becomes much easier to finance solutions.  

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Excited to be heading to Baku / COP 29 next week ... this article provides a good overview of the upcoming conference and key topics for discussion: "Key priorities for the negotiations include The New Collective Quantified Goal on Climate Finance (NCQG) which is set to be formalised at COP29. The outcomes of these discussions will be critical for mobilising finance to support climate action in developing countries. With the right outcome from the negotiations, the NCQG will provide a more ambitious financial framework for climate finance, foster global partnerships and generally strengthen the global response to climate change. Private sector support, with a particular focus on the mechanisms to deploy finance, will be critical to success. In addition to this, governments will also discuss their updated National Determined Contributions (NDCs) which they have until February 2025 to submit outlining their plans for reducing emissions and adapting to climate change. More than ever, private finance will play a central role in the successful implementation of the plans put forward by companies." I will be part of Team Canada, speaking at the Canadian Pavilion (Blue Zone) on Nov 15th at 11:30am, sharing successes in major project collaboration within the First Nations Climate Initiative panel discussion. Should be a great trip, if at the conference please let me know. #canada #cop29 #reconciliation #cdnecon #cdnpoli

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A recent report by the Investor Group on Climate Change (IGCC) reveals that only 25% of investors have third-party verification of financed emissions reporting. The report also highlights a significant shortfall in GHG measurement outside of the available public asset classes. As disclosure mandates loom, these gaps in verified and comprehensive reporting present significant challenges for Asset Managers and Owners. At Emmi, we recognise the importance of accurate and reliable climate risk data and analytics. Our Climate Reporting product is designed to help Asset Managers and Owners efficiently produce auditable high-coverage climate risk data, enabling them to meet the growing demands for transparent and verifiable climate reporting. Key features of our Climate Reporting product include: - Streamlined data collection and processing across all major asset classes - Climate risk metrics aligned with TCFD/ISSB - Auditable outputs for enhanced transparency As the pressure for climate action intensifies, Emmi is committed to providing innovative solutions that support investors in their transition to a net-zero future. Our Climate Reporting product empowers Asset Managers and Owners with the tools they need to navigate the complex landscape of climate disclosure and make informed decisions. Read the full IGCC report here: https://lnkd.in/guANQE9j To learn more about how Emmi can support your climate reporting needs, visit our website or contact our team: https://lnkd.in/gqD87D5K

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📢 Check out our latest research on the impact of #Biodiversity at #COP16, #NuclearEnergy, and #LaborMarkets in the Eurozone! Read ⬇️ 🌿 At Biodiversity COP 16 in Cali, the focus is on turning agreements into actions. The Kunming-Montreal Global Biodiversity Framework aims to protect vital ecosystems, but 85% of countries have missed their strategy deadlines. Valuing ecosystem services, like inland wetlands valued at USD 71,275 per hectare annually, is crucial. Cali's COP plays a key role in integrating natural capital into economic growth and sustainability. ☢️ Nuclear Energy and Climate Transition: Nuclear power is back on the agenda for achieving net-zero goals. Countries like France are expanding their capacities, while newcomers like Kazakhstan are exploring nuclear energy for the first time. Despite challenges like high costs, nuclear energy is set to double by 2050, offering a reliable low-carbon option. 💼 Eurozone Labor Markets - The "Big Stay" Conundrum: Unemployment is at a historic low of 6.4%, but trends suggest shifts as firms adjust post-pandemic. Declining vacancies and rising wages may increase labor churn. Investing in generative AI could enhance workforce mobility. https://lnkd.in/e5pEHfPN #NetZero #ClimateTransition #Ludonomics #AllianzTrade #Allianz

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I had a good feeling Catherine would ensure that XBRL is integral to the roadmap for digital reporting. Her commitment to enhancing data accessibility and transparency is clear in the the section higthlighted below of the roadmap. Read all about it here: § 96034. Submission of Required Information (a) Reporting entities shall submit the company and GHG emissions information for the prior fiscal year required under section 96033 to the Emissions Reporting Portal described in section 96037, along with a copy of the assurance provider’s report required under section 96039, according to the timelines required under section 96035. (b) Reporting entities may submit the GHG emissions information required under section 96033 to the GHG Emissions Reporting Portal by: Completion of a digital report using a standardized digital reporting template available on the GHG Emissions Reporting Portal, or Submission of existing reports. Reporting entities may submit reports prepared for any purpose, including to comply with other national and international mandatory or voluntary disclosure requirements and frameworks, as long as the reports include the company and GHG emissions information required under section 96033. (c) Reporting entities shall ensure GHG emissions information is electronically tagged in Inline #XBRL to maximize international alignment for streamlined submissions. For more details, visit the roadmap section. This approach not only standardizes the reporting process but also ensures compatibility and efficiency in global sustainability efforts. #DigitalReporting #Sustainability #XBRL #GHGEmissions #DataTransparency #GlobalAlignment

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Carbon Credit listings have ramped up on Carbon Trade eXchange (CTX) - led by a new 50,000 Credits (Vintage 2023) from Turkey issued by Verra VCS at only $6.50 with The Integrity Council for the Voluntary Carbon Market (ICVCM) CCP accreditation. The latest larger purchases offer of No Fees or Commissions for trades over 10,000 credits was enhanced with the COP29 Azerbaijan offer of a Bundled 10k deal (3+ projects) if we get firm agreement to buy this week (OTC or exchange). Now is the time to Reduce and Invest - for Businesses to take charge of their own destiny and lead. Watch out for a series of new Credit listings from Global Carbon Registry in December. contact [email protected] to take action.

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The availability of properly skilled labor (and the resulting increase in labor costs or constraints on output as demand outstrips supply) is becoming a more acute issue impacting multiple sectors in the US and elsewhere. Here we explore how labor and demographic trends pose an important credit risk to watch for the US Capital Goods sector - now and into the future. with Don CFA and Ezekiel Thiessen, CFA S&P Global S&P Global Ratings S&P Global Sustainable1

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Climate-Related Disclosure for Investor Communications Investors and bankers are hungry for more quantitative and clear-cut climate-related disclosure and data to make optimal financial decisions for green finance. #Holcim's proactive stance on sustainability and decarbonization sets an optimal case study. In our latest case study, we delve into Holcim's strategies for integrating climate-related data into financial decision-making, utilizing TCFD scenario analysis to highlight best practices. Discover how Holcim leverages transparency, clear goals, and concrete strategies to navigate regulatory pressures and rising investor expectations, demonstrating leadership in sustainability disclosure. REANGLE provides clients with services in performing quantitative green finance analysis and green investor relations, driving authentically sustainable investment decisions. Link to this article: https://lnkd.in/g8kYPc2w For more insights into climate-related scenario analysis: https://lnkd.in/gkcSvRjf #scenarioanalysis #greenfinance #sustainablefinance #sustainability #sustainabilitydisclosures #InternationalSustainabilityStandardsBoard #investmentanalysis

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Scope 3 frequently accounts for north of 70% of a company's carbon footprint. That's why the choice of U.S. Securities and Exchange Commission to drop Scope 3 from their new climate reporting regulations is a mistake. Our Managing Director, John Spear, wrote for Carbon Herald about how the SEC's new rule is out of step with corporate and societal shifts towards greater sustainability, and why there's a strong business case for Scope 3 reporting and action, including greater efficiency, lower cost and a better reputation. Read more: https://lnkd.in/eGwyBiG6 #scope3 #sustainability #oped #climate #sec #innovation

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