Chinese firms must report supply-chain emissions to aid nation’s net-zero push - South China Morning Post
Climate change: Chinese companies must improve emissions disclosures from supply chains to aid national net-zero goal | South China Morning Post
A photo taken on November 15, 2021 shows the coal-powered Datang International Zhangjiakou Power Station in Zhangjiakou, in China’s northern Hebei province. Photo: AFP
Climate change: Chinese companies must improve emissions disclosures from supply chains to aid national net-zero goal
- Asset managers say disclosure of so-called scope-3 emissions is critical to assessing climate-change business risks
- About 75 per cent of carbon risk in global equities sits within scope-3 emissions, according to one analyst
A photo taken on November 15, 2021 shows the coal-powered Datang International Zhangjiakou Power Station in Zhangjiakou, in China’s northern Hebei province. Photo: AFP
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”