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Side-event to the 8th Asia-Pacific Forum on Sustainable Development
Company action on climate – driving decarbonization through target setting
22 March 2021, 14.00-15.30 Bangkok time
Organized by ESCAP, the ESCAP Sustainable Business Network (ESBN), the Global Compact Networks in Malaysia, Singapore, Thailand and the Philippines, CDP and SBTi
Background, objective and expected outcome
To achieve a sustainable and resilient recovery from the COVID-19, social and environmental vulnerabilities and risks will need to be addressed, including those caused by climate change. As noted by IPCC, limiting warming to 1.5˚C will require greenhouse gas emissions to have been drastically reduced by 2030 and reaching net-zero by 2050. This will necessitate major and rapid transformation of economies, with changes in both technologies and behaviors, as well as substantial investments in low-carbon technologies and efficiency.
Company action will be critical for achieving the required transformation. While Governments are setting Nationally Determined Contributions (NDCs) detailing how to achieve targets and how to get there, given the urgency and the issues at stake, and the size of the corporate sector, achieving the goals will require companies to align their operations with a 1.5-degree trajectory. Setting targets and reducing emissions in anticipation of this transformation will help companies stay ahead and future-proof their operations.
A number of initiatives have been launched to guide companies along this way. This session will discuss how climate-related commitment, disclosure and reporting frameworks, such as the Science-based Target initiative, CDP and TCFD, can help drive progress on emissions reductions and facilitate more informed investment decisions. It will discuss the benefits for companies – from a company viewpoint – of setting such goals and targets, showcase what companies in the region are doing in this regard, discuss the links with sustainable finance, and how to expand the uptake of emissions target setting in the region.
The session will be open to governments, civil society and private sector representatives participating in the Asia-Pacific Forum on Sustainable Development (APFSD). Targeted outreach will also be done to private sector participants, including members of the ESCAP Sustainable Business networks and their networks, members of the Global Compact networks in the region, as well as national chambers.
|22 March 2021 (Virtual meeting)|
|14:00-14:05||Introduction and welcome remarks
|14:05-14:15||Corporate emissions reporting and target setting – why, what and how?
Miguel Naranjo Gonzalez, Programme Officer, UNFCCC
Alberto Carrillo Pineda, Director, Science-Based Targets
Moderated panel with speakers from 2-3 companies (from different sectors and geographies) who have set targets, focusing on benefits, challenges and lessons learned, followed by investor views on importance of targets for driving sustainable financing, and a government reflection on links with national targets.
– Andrew Buay, Vice President, Group Sustainability, Singtel
– Poom Siraprapasiri, Assistant Vice President, Global Partnership for Sustainability and Communications, Charoen Pokphand Group Co., Ltd.
– Anirban Ghosh, Chief Sustainability Officer, Mahindra & Mahindra (tbc)
– Tunku Alizakri Raja Muhammad Alisa, former CEO, Employees Provident Fund, Malaysia.
– Grace Hui, Head of Green and Sustainable Finance at Hong Kong Exchanges and Clearing Limited (HKEX) (tbc)
– Pongwipa Lorsomboon, Deputy Director, Thailand Greenhouse Gas Management Organization (tbc)
Moderated discussion + Q&A
Moderator: Pratima Divgi, Director, Hong Kong, Southeast Asia, Australia and New Zealand, CDP
APFSD website blurb
Achieving a sustainable and resilient recovery from COVID-19 will require addressing social and environmental vulnerabilities and risks, including those caused by climate change. To limit warming to 1.5˚C, emissions will need to be drastically reduced by 2030 and reach net-zero by 2050. This will require major transformations of economies and companies. As governments and businesses across the world are announcing net-zero targets, a number of tools and reporting frameworks have been launched to guide companies on this journey and ensure accountability. This session will discuss the importance of corporate emissions target setting and reporting in driving progress, discuss the benefits for companies, the views of investors, showcase progress in the region and discuss how to drive increased emissions target setting by companies in the region.