Decarbonisation
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Decarbonising the economy is a huge challenge. The OECD estimates around EUR 6.3 trillion will be required each year for the next 10 years to achieve the goals set out in the UNFCC Paris Agreement. A large part of the required investments and efforts towards a low carbon future will have to come from the private sector.
The road to a low carbon economy is a long and challenging one especially with reporting, disclosure and transparency continuing to take centre stage. Companies will increasingly need to disclose details of their emissions, and what they are doing about them. As such we believe they need to understand their emissions, and develop strategies to bring these down.
The rules in relation to disclosure and reporting of greenhouse gas emissions are tightening as stakeholders subject companies to greater scrutiny. Companies should therefore consider what the regulatory environment might look like for them if Governments really got serious about aiming for net-zero emissions as is happening across the globe. In addition to Governments, climate change activists are taking matters into their own hands and commencing litigation and with increasing success.
As many of our clients embark on ambitious decarbonisation journeys, we have developed a comprehensive model which should serve as a basis to a successful approach, both in terms of financial viability and achieving emission reduction targets. This model was developed by our experts alongside clients and in close collaboration with GaffneyCline, industry leaders on the topic of Carbon Management.
https://www.herbertsmithfreehills.com/latest-thinking/decarbonisation-the-road-to-a-low-carbon-economy
