| Title | Cascading Transitional Climate Risks in the Private Sector-Risks and Opportunities |
|---|---|
| ID_Doc | 64401 |
| Authors | Sanderson, H; Stridsland, T |
| Title | Cascading Transitional Climate Risks in the Private Sector-Risks and Opportunities |
| Year | 2022 |
| Published | |
| Abstract | Adaptation to climate change poses two recognized significant types of risks to the private sector; (1) physical risks and (2) transitional risks. As markets respond to climate-related policies and shifting demands from customers and investors, opportunities as well as risks are presented. A very recent and important policy development is the European Green Deal suggesting the EU to reduce its emissions from 40 to 55% by 2030, and aiming to enable European countries to meet their Paris Agreement targets. The shift required for this transition highlights the challenges in terms of adapting business models and decision-making tools, while also providing opportunities for innovation and development in the private sector. In order to reach Paris Agreement goals, science-based targets need to be adopted to measure and manage emissions, specifically focussing on Scope 3 emissions embedded in the value chain in the private sector. Methods and guidances are considered, with the ultimate goal being a harmonized methodology to create a detailed emissions inventory and risk disclosure of a company's operations. It is suggested that Environmentally Extended Input-Output models initially be used as a screening tool, in order to identify emission dense sectors. Process-based LCA inventory data, collected through collaboration and transparency throughout the value chain, can then be applied to increase the resolution of the decision-making tool. |
| https://link.springer.com/content/pdf/10.1007/978-3-030-86211-4_21.pdf |
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