Canadian Investors Launch Initiative to Boost Business Decarbonization
An informal coalition of Canadian institutional investors, 'Tomorrow's Businesses', has launched an initiative to help companies develop credible transition plans for decarbonization. The group aims to facilitate consensus on these plans and publish industry-specific guides to combat climate change.
Only 5% of Canadian businesses currently meet at least two-thirds of the credibility criteria defined by the Carbon Disclosure Project (CDP) for transition plans, compared to 23% in Japan and 20% in France. This highlights the need for more businesses to adopt robust transition plans.
Transition plans must set targets and timelines for reducing greenhouse gas emissions, outline means to achieve them, and analyze risks and opportunities posed by climate change. These plans are crucial for businesses to become more competitive and prepare for climate change, as the free trade agreement with the United States can no longer be relied upon. The relentless progress of climate change and its costly disasters is certain, and businesses must now address a transition plan to mitigate risks.
Tomorrow's Businesses will play a key role in helping Canadian businesses develop and implement credible transition plans. By doing so, they will not only help combat climate change but also provide a competitive advantage and manage climate risk for the businesses involved.
Read also:
- Potential Consequences of Dismantling FEMA Vary Across States
- Railway line in Bavaria threatened by unstable slope - extensive construction site at risk
- Wind Farm Controversy on the Boundary of Laois and Kilkenny
- Puerto Rico's Climate Lawfare Campaign experiences another setback with the dismissal of its deals.
