Assemblin Caverion Group – Assemblin Caverion Group’s climate targets validated by the Science Based Target initiative

EMR Analysis

More information on Assemblin Caverion Group: See the full profile on EMR Executive Services

More information on Jacob Götzsche (President and Chief Executive Officer, Caverion Corporation + Executive Chairman, Assemblin Caverion Group): See the full profile on EMR Executive Services

More information on Mats Johansson (President and Chief Executive Officer, Assemblin + President and Chief Executive Officer, Assemblin Caverion Group + Acting Chief Executive Officer, Caverion Sweden, Assemblin Caverion Group): See the full profile on EMR Executive Services

More information on Tiia Pirttimaa (Director, Sustainability, Assemblin Caverion Group): See the full profile on EMR Executive Services

 

 

More information on The Science Based Targets initiative (SBTi): https://sciencebasedtargets.org/ + The Science Based Targets initiative (SBTi) is a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate science. It is focused on accelerating companies across the world to halve emissions before 2030 and achieve net-zero emissions before 2050.

The initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments. The SBTi defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies’ targets.

• Defines and promotes best practices in emissions reductions and net-zero targets in line with climate science.
• Provides target setting methods and guidance to companies to set science-based targets in line with the latest climate science.
• Includes a team of experts to provide companies with independent assessment and validation of targets.
• Serves as the lead partner of the Business Ambition for 1.5°C campaign, an urgent call to action from a global coalition of UN agencies, business and industry leaders that mobilizes companies to set net-zero science-based targets in line with a 1.5 degrees C future.

 

 

More information on Net Zero by 2050 by the United Nations: https://www.un.org/en/climatechange/net-zero-coalition + Put simply, net zero means cutting greenhouse gas emissions to as close to zero as possible, with any remaining emissions re-absorbed from the atmosphere, by oceans and forests for instance.

Currently, the Earth is already about 1.1°C warmer than it was in the late 1800s, and emissions continue to rise. To keep global warming to no more than 1.5°C  – as called for in the Paris Agreement – emissions need to be reduced by 45% by 2030 and reach net zero by 2050.

More than 140 countries, including the biggest polluters – China, the United States, India and the European Union – have set a net-zero target, covering about 88% of global emissions. More than 9,000 companies, over 1000 cities, more than 1000 educational institutions, and over 600 financial institutions have joined the Race to Zero, pledging to take rigorous, immediate action to halve global emissions by 2030.

More information on Net Zero by 2050 by the Science Based Targets initiative (SBTi): https://sciencebasedtargets.org/net-zero + The SBTi’s Corporate Net-Zero Standard is the world’s only framework for corporate net-zero target setting in line with climate science. It includes the guidance, criteria, and recommendations companies need to set science-based net-zero targets consistent with limiting global temperature rise to 1.5°C.

UN vs. SBTi: 

• UN targets nations, while SBTi focuses on companies. UN sets a broad goal, while SBTI provides a detailed framework for target setting.
• Both aim to achieve net zero emissions and limit warming to 1.5°C. The UN sets the overall direction, and SBTi helps businesses translate that goal into actionable plans.

Key components of the Corporate Net-Zero Standard:

1. Near-term targets: Rapid, deep cuts to direct and indirect value-chain emissions must be the overarching priority for companies. Companies must set near-term science-based targets to roughly halve emission before 2030. This is the most effective, scientifically-sound way of limiting global temperature rise to 1.5°C.
2. Long-term targets: Companies must set long-term science-based targets. Companies must cut all possible – usually more than 90% – of emissions before 2050.
3. Neutralize residual emissions: After a company has achieved its long-term target and cut emissions by more than 90%, it must use permanent carbon removal and storage to counterbalance the final 10% or more of residual emissions that cannot be eliminated. A company is only considered to have reached net-zero when it has achieved its long-term science-based target and neutralized any residual emissions.
4. Beyond Value Chain Mitigation (BVCM): Businesses should invest now in actions to reduce and remove emissions outside of their value chains in addition to near- and long-term science-based targets.

 

 

More information on the Carbon Disclosure Project (CDP): https://www.cdp.net/en + CDP is a not-for-profit charity that runs the global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts. The world’s economy looks to CDP as the gold standard of environmental reporting with the richest and most comprehensive dataset on corporate and city action.

CDP have regional offices and local partners spanning 50 locations. There are now companies, cities, states and regions from over 90 countries disclosing through CDP on an annual basis.

Founded in 2000 and working with more than 700 financial institutions with over $142 trillion in assets, CDP pioneered using capital markets and corporate procurement to motivate companies to disclose their environmental impacts, and to reduce greenhouse gas emissions, safeguard water resources and protect forests. Over 24,000 organizations around the world disclosed data through CDP in 2023, with more than 23,000 companies – including listed companies worth two thirds global market capitalization – and over 1,100 cities, states and regions. Fully TCFD aligned, CDP holds the largest environmental database in the world, and CDP scores are widely used to drive investment and procurement decisions towards a zero carbon, sustainable and resilient economy. CDP is a founding member of the Science Based Targets initiative, the We Mean Business Coalition, The Investor Agenda and the Net Zero Asset Managers initiative.

More information on Paul Dickinson (Founder Chair, Carbon Disclosure Project (CDP) + Co-Founder, Transition Value Partners (TVP)): https://www.transition-value.com/about + https://www.linkedin.com/in/paul-dickinson-0093a8/ 

More information on Sherry Madera (Chief Executive Officer, Carbon Disclosure Project (CDP)): https://www.cdp.net/en/info/staff + https://www.linkedin.com/in/sherrymadera/ 

 

 

More information on the United Nations: https://www.un.org/ + Peace, dignity and equality on a healthy planet.

The United Nations is an international organization founded in 1945. Currently made up of 193 Member States, the UN and its work are guided by the purposes and principles contained in its founding Charter.

The UN has evolved over the years to keep pace with a rapidly changing world.

But one thing has stayed the same: it remains the one place on Earth where all the world’s nations can gather together, discuss common problems, and find shared solutions that benefit all of humanity.

The main parts of the UN structure are the General Assembly, the
Security Council, the Economic and Social Council, the Trusteeship Council, the International Court of Justice, and the UN Secretariat. All were established in 1945 when the UN was founded.

More information on António Guterres (Secretary-General, United Nations): https://www.un.org/sg/en/content/sg/biography 

More information on the United Nations Sustainable Development Goals (SDG): 

• United Nations Global Compact (UNGC): https://www.unglobalcompact.org + The world’s largest corporate sustainability initiative: a call to companies to align strategies in operations with universal principles on human rights, labour, environment and anti corruption, and take actions that advance societal goals.
• At the UN Global Compact, we aim to mobilize a global movement of sustainable companies and stakeholders to create the world we want. That’s our vision.
  • To make this happen, the UN Global Compact supports companies to:
    • Do business responsibly by aligning their strategies and operations with Ten Principles on human rights, labour, environment and anti-corruption; and
    • Take strategic actions to advance broader societal goals, such as the UN Sustainable Development Goals, with an emphasis on collaboration and innovation.
• United Nations Global Compact 10 Principles:
  • Human Rights
    • Principle 1: Businesses should support and respect the protection of internationally proclaimed human rights; and
    • Principle 2: make sure that they are not complicit in human rights abuses.
  • Labour
    • Principle 3: Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;
    • Principle 4: the elimination of all forms of forced and compulsory labour;
    • Principle 5: the effective abolition of child labour; and
    • Principle 6: the elimination of discrimination in respect of employment and occupation.
  • Environment
    • Principle 7: Businesses should support a precautionary approach to environmental challenges;
    • Principle 8: undertake initiatives to promote greater environmental responsibility; and
    • Principle 9: encourage the development and diffusion of environmentally friendly technologies.
  • Anti-Corruption
    • Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery.
• The 17 SDGS (Sustainable Development Goals) by 2030:
  • Detailed explanation of each of the 17 SDGS: https://www.unglobalcompact.org/sdgs/17-global-goals

More information on Sanda Ojiambo (UN Assistant Secretary-General and CEO of the UN Global Compact, United Nations): https://www.un.org/sg/en/content/profiles/sanda-ojiambo + https://unglobalcompact.org/about/governance/asg-ceo + https://www.linkedin.com/in/sandaojiambo/ 

 

 

More information on The World Resources Institute (WRI): https://www.wri.org/ + WRI is a global research organization that works with governments, businesses, multilateral institutions and civil society groups to develop practical solutions that improve people’s lives and ensure nature can thrive. We organize our work around seven global challenges: Food, Forests, Water, Energy, Climate, the Ocean and Cities. We analyze these issues through the lenses of our four Centers of Excellence: Business, Economics, Finance and Equity.

WRI has nearly 1,800 staff located around the world. In addition to global initiatives and a coordinated regional presence in Africa and Europe, we prioritize work in 12 focus countries: Brazil, China, Colombia, Democratic Republic of the Congo (DRC), Ethiopia, India, Indonesia, Kenya, Mexico, Republic of the Congo, Rwanda and the United States.

More information on Ani Dasgupta (President & Chief Executive Officer, World Resources Institute): https://www.wri.org/about/experts-staff + https://www.linkedin.com/in/aniruddha-dasgupta 

 

 

More information on World Wildlife Fund (WWF): https://www.worldwildlife.org/ +As the world’s leading conservation organization, World Wildlife Fund works in nearly 100 countries to tackle the most pressing issues at the intersection of nature, people, and climate. We collaborate with local communities to conserve the natural resources we all depend on and build a future in which people and nature thrive. Together with partners at all levels, we transform markets and policies toward sustainability, tackle the threats driving the climate crisis, and protect and restore wildlife and their habitats.

More information on Carter Roberts (President & Chief Executive Officer, WWF): https://www.worldwildlife.org/leaders/carter-roberts + https://www.linkedin.com/in/carter-roberts-09879331/ 

 

 

 

 

 

 

 

EMR Additional Notes:

• Carbon Dioxide (CO2):
  • Primary greenhouse gas emitted through human activities. Carbon dioxide enters the atmosphere through burning fossil fuels (coal, natural gas, and oil), solid waste, trees and other biological materials, and also as a result of certain chemical reactions (e.g., manufacture of cement). Carbon dioxide is removed from the atmosphere (or “sequestered”) when it is absorbed by plants as part of the biological carbon cycle.
• Biogenic Carbon Dioxide (CO2):
  • Biogenic Carbon Dioxide (CO2) and Carbon Dioxide (CO2) are the same. Scientists differentiate between biogenic carbon (that which is absorbed, stored and emitted by organic matter like soil, trees, plants and grasses) and non-biogenic carbon (that found in all other sources, most notably in fossil fuels like oil, coal and gas).
• Decarbonization:
  • Reduction of carbon dioxide emissions through the use of low carbon power sources, achieving a lower output of greenhouse gasses into the atmosphere.
• Carbon Footprint:
  • There is no universally agreed definition of what a carbon footprint is.
  • A carbon footprint is generally understood to be the total amount of greenhouse gas (GHG) emissions that are directly or indirectly caused by an individual, organization, product, or service. These emissions are typically measured in tonnes of carbon dioxide equivalent (CO2e).
  • In 2009, the Greenhouse Gas Protocol (GHG Protocol) published a standard for calculating and reporting corporate carbon footprints. This standard is widely accepted by businesses and other organizations around the world. The GHG Protocol defines a carbon footprint as “the total set of greenhouse gas emissions caused by an organization, directly and indirectly, through its own operations and the value chain.”
• CO2e (Carbon Dioxide Equivalent):
  • CO2e means “carbon dioxide equivalent”. In layman’s terms, CO2e is a measurement of the total greenhouse gases emitted, expressed in terms of the equivalent measurement of carbon dioxide. On the other hand, CO2 only measures carbon emissions and does not account for any other greenhouse gases.
  • A carbon dioxide equivalent or CO2 equivalent, abbreviated as CO2-eq is a metric measure used to compare the emissions from various greenhouse gases on the basis of their global-warming potential (GWP), by converting amounts of other gases to the equivalent amount of carbon dioxide with the same global warming potential.
    • Carbon dioxide equivalents are commonly expressed as million metric tonnes of carbon dioxide equivalents, abbreviated as MMTCDE.
    • The carbon dioxide equivalent for a gas is derived by multiplying the tonnes of the gas by the associated GWP: MMTCDE = (million metric tonnes of a gas) * (GWP of the gas).
    • For example, the GWP for methane is 25 and for nitrous oxide 298. This means that emissions of 1 million metric tonnes of methane and nitrous oxide respectively is equivalent to emissions of 25 and 298 million metric tonnes of carbon dioxide.
• Carbon Capture and Storage (CCS) – Carbon Capture, Utilisation and Storage (CCUS):
  • CCS involves the capture of carbon dioxide (CO2) emissions from industrial processes. This carbon is then transported from where it was produced, via ship or in a pipeline, and stored deep underground in geological formations.
  • CCS projects typically target 90 percent efficiency, meaning that 90 percent of the carbon dioxide from the power plant will be captured and stored.
• Carbon Dioxide Removal (CDR): 
  • Carbon Dioxide Removal encompasses approaches and methods for removing CO2 from the atmosphere and then storing it permanently in underground geological formations, in biomass, oceanic reservoirs or long-lived products in order to achieve negative emissions.
• Direct Air Capture (DAC): 
  • Technologies extracting CO2 directly from the atmosphere at any location, unlike carbon capture which is generally carried out at the point of emissions, such as a steel plant.
  • Constraints like costs and energy requirements as well as the potential for pollution make DAC a less desirable option for CO2 reduction. Its larger land footprint when compared to other mitigation strategies like carbon capture and storage systems (CCS) also put it at a disadvantage.
• Carbon Credits or Carbon Offsets:
  • Permits that allow the owner to emit a certain amount of carbon dioxide or other greenhouse gases. One credit permits the emission of one ton of carbon dioxide or the equivalent in other greenhouse gases.
  • The carbon credit is half of a so-called cap-and-trade program. Companies that pollute are awarded credits that allow them to continue to pollute up to a certain limit, which is reduced periodically. Meanwhile, the company may sell any unneeded credits to another company that needs them. Private companies are thus doubly incentivized to reduce greenhouse emissions. First, they must spend money on extra credits if their emissions exceed the cap. Second, they can make money by reducing their emissions and selling their excess allowances.

 

 

• Global Warming: 
  • Global warming is the long-term heating of Earth’s climate system observed since the pre-industrial period (between 1850 and 1900) due to human activities, primarily fossil fuel burning, which increases heat-trapping greenhouse gas levels in Earth’s atmosphere.
• Global Warming Potential (GWP): 
  • The heat absorbed by any greenhouse gas in the atmosphere, as a multiple of the heat that would be absorbed by the same mass of carbon dioxide (CO2). GWP is 1 for CO2. For other gases it depends on the gas and the time frame.
  • Carbon dioxide equivalent (CO2e or CO2eq or CO2-e) is calculated from GWP. For any gas, it is the mass of CO2 which would warm the earth as much as the mass of that gas. Thus it provides a common scale for measuring the climate effects of different gases. It is calculated as GWP times mass of the other gas. For example, if a gas has GWP of 100, two tonnes of the gas have CO2e of 200 tonnes.
  • GWP was developed to allow comparisons of the global warming impacts of different gases.
• Greenhouse Gas (GHG):
  • A greenhouse gas is any gaseous compound in the atmosphere that is capable of absorbing infrared radiation, thereby trapping and holding heat in the atmosphere. By increasing the heat in the atmosphere, greenhouse gases are responsible for the greenhouse effect, which ultimately leads to global warming.
  • The main gases responsible for the greenhouse effect include carbon dioxide, methane, nitrous oxide, and water vapor (which all occur naturally), and fluorinated gases (which are synthetic).

• GHG Protocol Corporate Standard Scope 1, 2 and 3: https://ghgprotocol.org/ + The GHG Protocol Corporate Accounting and Reporting Standard provides requirements and guidance for companies and other organizations preparing a corporate-level GHG emissions inventory. Scope 1 and 2 are mandatory to report, whereas scope 3 is voluntary and the hardest to monitor.
  • Scope 1: Direct emissions:
    • Direct emissions from company-owned and controlled resources. In other words, emissions are released into the atmosphere as a direct result of a set of activities, at a firm level. It is divided into four categories:
      • Stationary combustion (e.g fuels, heating sources). All fuels that produce GHG emissions must be included in scope 1.
      • Mobile combustion is all vehicles owned or controlled by a firm, burning fuel (e.g. cars, vans, trucks). The increasing use of “electric” vehicles (EVs), means that some of the organisation fleets could fall into Scope 2 emissions.
      • Fugitive emissions are leaks from greenhouse gases (e.g. refrigeration, air conditioning units). It is important to note that refrigerant gases are a thousand times more dangerous than CO2 emissions. Companies are encouraged to report these emissions.
      • Process emissions are released during industrial processes, and on-site manufacturing (e.g. production of CO2 during cement manufacturing, factory fumes, chemicals).
  • Scope 2: Indirect emissions – owned:
    • Indirect emissions from the generation of purchased energy, from a utility provider. In other words, all GHG emissions released in the atmosphere, from the consumption of purchased electricity, steam, heat and cooling. For most organisations, electricity will be the unique source of scope 2 emissions. Simply stated, the energy consumed falls into two scopes: Scope 2 covers the electricity consumed by the end-user. Scope 3 covers the energy used by the utilities during transmission and distribution (T&D losses).
  • Scope 3: Indirect emissions – not owned:
    • Indirect emissions – not included in scope 2 – that occur in the value chain of the reporting company, including both upstream and downstream emissions. In other words, emissions are linked to the company’s operations. According to GHG protocol, scope 3 emissions are separated into 15 categories.

 

 

• The Paris Agreement (COP 21): 
  • The Paris Agreement is a legally binding international treaty on climate change under UNFCC. It was adopted by 196 Parties at COP 21 in Paris, on 12 December 2015 and entered into force on 4 November 2016.
    • Its goal is to limit global warming to well below 2, preferably to 1.5 degrees Celsius, compared to pre-industrial levels.
    • To achieve this long-term temperature goal, countries aim to reach global peaking of greenhouse gas emissions as soon as possible to achieve a climate neutral world by mid-century.
    • The Paris Agreement is a landmark in the multilateral climate change process because, for the first time, a binding agreement brings all nations into a common cause to undertake ambitious efforts to combat climate change and adapt to its effects.

 

 

• Biomass:
  • Biomass is renewable organic material that comes from plants and animals. Biomass contains stored chemical energy from the sun that is produced by plants through photosynthesis.
  • Biomass is a clean, renewable energy source. Its initial energy comes from the sun, and plants or algae biomass can regrow in a relatively short amount of time. Trees, crops, and municipal solid waste are consistently available and can be managed sustainably.
• Bioenergy:
  • It is a form of renewable energy that is derived from recently living organic materials known as biomass, which can be used to produce transportation fuels, heat, electricity, and products.
  • Bioenergy is renewable energy produced from organic matter (called “biomass”) such as plants, which contain energy from sunlight stored as chemical energy. Bioenergy producers can convert this energy into liquid transportation fuel—called “biofuel”—through a chemical conversion process at a biorefinery.
  • Types of bioenergy include biogas, bioethanol, and biodiesel which may be sourced from plants (corn, sugarcane), wood, agricultural wastes, and bagasse. Bioenergy is considered renewable because its source is inexhaustible, as plants obtain their energy from the sun through photosynthesis which can be replenished.
• Biofuel:
  • Any fuel that is derived from biomass—that is, plant or algae material or animal waste. Since such feedstock material can be replenished readily, biofuel is considered to be a source of renewable energy, unlike fossil fuels such as petroleum, coal, and natural gas.
  • The two most common types of biofuels in use today are ethanol and biodiesel, both of which represent the first generation of biofuel technology.
• e-Fuels – Electrofuels:
  • eFuels are produced with electricity from renewable sources, water and CO2 and are a sustainable alternative to fossil fuels.
  • Electrofuels, also known as e-fuels or synthetic fuels, are a type of drop-in replacement fuel. They are manufactured using captured carbon dioxide or carbon monoxide, together with hydrogen obtained from sustainable electricity sources such as wind, solar and nuclear power.
• e-Methanol:
  • eMethanol is also referred to as ‘green’ methanol because of the way in which it is produced: combining biogenic CO2 (put simply, CO2 created by burning biologically based materials, such as biomass) with hydrogen, created by water electrolysis.
  • E-methanol is produced by combining green hydrogen and captured carbon dioxide from industrial sources. It still releases some greenhouse gases as it burns, but it emits less carbon dioxide, nitrogen oxides, sulfur oxide and particulate matter than conventional marine fuel.
  • Methanol – CH3OH – is four parts hydrogen, one part oxygen and one part carbon. On an industrial scale, methanol is predominantly produced from natural gas by reforming the gas with steam and then converting and distilling the resulting synthesized gas mixture to create pure methanol.
• SAF (Sustainable Aviation Fuel):
  • SAF stands for sustainable aviation fuel. It’s produced from sustainable feedstocks and is very similar in its chemistry to traditional fossil jet fuel. Using SAF results in a reduction in carbon emissions compared to the traditional jet fuel it replaces over the lifecycle of the fuel.
  • SAF is made by blending conventional kerosene (fossil-based) with renewable hydrocarbon. They are certified as “Jet-A1” fuel and can be used without any technical modifications to aircraft.
  • SAF prices are currently about five times higher than prices for conventional jet fuel, data on European spot market prices collected by OPIS show. OPIS is an IHS Markit unit. The disruption to the aviation industry as a result of the COVID-19 pandemic makes cost issues even more prominent today.

 

 

• Feedstock:
  • Feedstock is raw material used for processing or manufacturing another product. Examples of feedstock include crude oil, which is used to produce gasoline, corn, which is used to produce ethanol, and soybean oil, which is used to produce biodiesel.