Published on: Dec 15, 2020 | Written by: Mark Evans
BRUSSELS - 15 December 2020: The Global Enabling Sustainability Initiative (GeSI) and CDP have signed an agency agreement to allow users of the GeSI Toolkit to use the tool in combination with specific CDP data points in order to identify climate-related risks and opportunities across a range of scenarios.
The recent years have shown a trend towards low-carbon investments, but this has not been fast enough. The flow of capital into sustainable finance needs to be accelerated to fund the transition to a net zero economy and avoid climate risks.
The Toolkit is a GeSI Climate Scenario Analysis Framework tool, aligned to the Taskforce on Climate-related Financial Disclosures (TCFD) recommendations, which enables companies to evaluate climate-related impacts on business.
This tool allows ICT and other industrial sectors to share with investors the potential of climate-related opportunities and their financial returns; consequently, it can also persuade them to step in and finance the ICT-enabled carbon transition.
The collaboration aims at achieving the organisations' shared goal of reducing companies’ carbon footprint, allowing them to assess the impact of climate-related risks and opportunities and understand the financial implications of climate change.
Through this agreement, CDP will act as a sales agent for the Toolkit, with a webpage to promote it. CDP will manage the contracts and collect the fees on behalf of GeSI.
This agreement strengthens the existing partnership between the two organisations; GeSI and CDP are committed to driving corporate action on climate change and the Sustainable Development Goals (SDGs) and the 2030 Agenda. This is also the primary goal of the Digital with Purpose Movement; this Movement has united companies and organisations including Swisscom, NTT, T-Mobile US, Taiwan Mobile, Deloitte, World Ocean Council, and ETNO.
CDP’s co-founder and Executive Chair, Paul Dickinson supports the Movement as a member of the Digital with Purpose Performance Framework Coordination Board, which will provide oversight over the Digital with Purpose Standard and performance scoring.
Daniel Turner, Global Head of Corporate Engagement at CDP, commented: “In today’s economy it’s essential for companies to assess the impacts of climate change on their future business resilience, and climate scenario analysis is the best way to do this. This new tool from GeSi, incorporating CDP’s rich data on risks and opportunities, will help companies assess the financial impacts of different scenarios and plan for the future. We are pleased to work with GeSi in making this tool available for companies to get started in this difficult area”
“We are proud to announce this exciting and important partnership with CDP,” said GeSI CEO Luis Neves. “GeSI’s vision is to build a sustainable world through responsible, ICT-enabled transformation and for almost 20 years, we have been focused on providing information, resources and best practices to achieve integrated social and environmental sustainability.
We developed this Framework and tool to help companies share consistent, transparent disclosures. The CDP partnership means over 9,600companies across the globe can benefit from this tool and make better informed decisions to improve management of climate-related risks and enable companies to capture the opportunities.”
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About the Global Enabling Sustainability Initiative (GeSI)
GeSI is a leading source of impartial information, resources and best practice for achieving integrated social and environmental sustainability through Information and Communication Technology (ICT). GeSI facilitates real world solutions to real world issues both within the ICT industry and the greater sustainability community. With a diverse and global member base and partnerships, GeSI fosters collaborative and innovative approaches to sustainability, supporting member initiatives in both developed and developing nations to quickly and effectively respond to issues such as climate change, energy efficiency, e-waste management and resource efficiency, responsible supply chain practices, privacy, digital trust and responsibility and human rights.
CDP is an international non-profit that drives companies and governments to reduce their greenhouse gas emissions, safeguard water resources and protect forests. Voted number one climate research provider by investors and working with institutional investors with assets of US$106 trillion, we leverage investor and buyer power to motivate companies to disclose and manage their environmental impacts. Over 9,600companies with over 50% of global market capitalisation disclosed environmental data through CDP in 2020. This is in addition to the hundreds ofcities, states and regions who disclosed, making CDP's platform one of the richest sources of information globally on how companies and governments are driving environmental change. CDP is a founding member of the We Mean Business Coalition. Visit www.CDP.net or follow us @CDP to find out more.