Performance in the areas of environmental, social, and governance (ESG) are becoming crucial indicators for the capital markets. Investors are paying more attention to investments and disclosures related to ESG and the environment. Businesses that perform well in terms of ESG have higher investment returns, lower risks, and improved crisis resilience.
Companies and brands are increasingly looking to their partners, as well as to technology and innovation, to incorporate sustainability and bring about significant change that is beneficial to the economy, society, and the environment. To develop and implement strategies, operating models, processes, and technologies to assist our clients around the world in creating corporate value and sustainable impact, supported by technology and human inventiveness, our committed teams bring significant experience and industry expertise. In order to accomplish the Sustainable Development Goals and combat climate change, we are working with our partners to find solutions to the most pressing issues that affect both our clients and the rest of the world.
GCAS Sustainability practice covers all aspects of Environmental Social Governance (ESG) strategy, implementation, risk analysis, governance, reporting and assurance, supporting our clients at any stage of their sustainability journey.GCAS team can support clients as they seek to integrate ESG and sustainability into business strategy, and improve and communicate their ESG and sustainability performance to stakeholders.
1.Increase the value of sustainability and supply chain strategies
2.Mitigate risk and build a reputation to maintain a social license to operate and grow
4.Improve decision-making and increase operational and performance effectiveness to deliver long-term value
GCAS team brings together professionals with experience in business, engineering, science and operations, and offer services to assist with the following:
A. Sustainability strategy development, design and implementation support
B. Stakeholder engagement, prioritization and analysis
C. Materiality assessments
D. ESG maturity assessments
E. Advice on sustainability risks in the value chain
F. Advice on responsible investment
G. Supply chain sustainability management
H. Circular economy mapping and advisory
I. Code of conduct and ethics effectiveness and implementation assessments
J. Training, development and capacity building
K. Policy development and research
L. Portfolio sustainability risk and opportunity assessment
Building Green Business
Building Green Business : Sustainability has become a necessity for both businesses and the environment. Reduced environmental effect was once considered a “good to have” for businesses. Employees, consumers, and investors are putting increasing pressure on leaders to take action on environmental challenges. It’s now a must as well as a legitimate and lucrative business opportunity.
Sustainability was a niche problem for many firms until just over a decade ago, which is hard to believe now. Concerns about the changing global climate—and the impact of human activity on emissions—had been building for decades, but just 20% of S&P 500 businesses submitted sustainability or corporate social responsibility (CSR) reports in 2011. While these studies spoke about sustainability, concrete action was rare.
Sustainability has emerged as a significant value driver in the last five years. As it became clear that current measures to limit temperature rises might not be enough, corporations began to see the chance to address the problem. Organizations began to adopt and promote environmental, social, and governance (ESG) measures, and the number of corporations subscribing to science-based sustainability targets more than tripled between 2020 and 2021. Finally, corporate entrants began to promote sustainability as a strategic lever for creating value, and “climate unicorns” began to emerge.
Urgent action needed to ensure a resilient energy transition amid severe global challenges
High fuel costs, commodity shortages, insufficient progress toward reaching climate objectives, and slow progress on energy equity and access, according to the study Fostering Effective Energy Transition 2022, exacerbate the urgency for countries to expedite a comprehensive energy transition.
In order to adapt to energy market volatility, it is critical to prioritize a robust energy transition and diversity of the energy mix.
“Countries are at risk of future events compounding the disruption of their energy supply chain at a time when the window to prevent the worst consequences of climate change is closing fast,” said Roberto Bocca, Head of Energy, Materials and Infrastructure, World Economic Forum. “While there are difficult decisions to be taken to align the imperatives of energy security, sustainability and affordability in the short term, now is the time to double down on action.
To negotiate this difficult situation, countries must diversify on two fronts: not just in terms of domestic energy mix in the long run, but also in terms of fuels and energy providers in the near run. Most countries rely on a small number of trading partners to meet their energy needs, and their energy sources are insufficiently diverse, leaving them with little flexibility to deal with interruptions.
“The current energy crisis reveals just how important energy is to people and the economy,” said EspenMehlum, Head of Energy, Materials and Infrastructure Programmer for Benchmarking, World Economic Forum. “It is now critical to tackle the structural risks that have become evident while also increasing momentum on climate action. Success will largely hinge on policy and investments. Prioritizing energy efficiency and ramping up investment in clean energy infrastructure, renewables, clean hydrogen and new nuclear capacity can strengthen energy system resilience and will be a win-win for reducing emissions.”
Environmental Product Declaration
The construction industry is evolving. Carbon efficiency and transparency are becoming increasingly important factors in investment and procurement decisions, with Environmental Product Declarations (EPDs) frequently assisting decision-making. An EPD can help you stand out from the competitors as a construction product producer.
Life-cycle assessment (LCA) is used in EPDs to evaluate and describe a product’s long-term environmental impact. They provide an objective, credible, and neutral review because they are third-party verified and based on international standards. A manufacturer’s commitment to measuring and publicly declaring environmental effect in an accessible format is demonstrated through the creation of an EPD.
Environmental Product Declarations (EPDs) are an important validation tool for both manufacturers and specifiers, as they provide transparent data regarding the environmental sustainability of their goods. Despite this, the industry’s understanding of the nature and purpose of EPDs is still lacking.
An environmental product declaration (EPD) is a document that contains life-cycle inventory data and provides a transparent summary of a product’s environmental impact, often from ‘cradle to grave.’ The extraction of raw materials, the manufacturing process, distribution, the product’s use, and its end-of-life value, such as whether it can be recycled or reused, will all be considered in this Life Cycle Assessment (LCA). Steel is an example of a highly sustainable building material that has properties that are well-suited to circular economic use and can be reused and indefinitely recycled without losing quality.
EPD’s Crucial to Embodied Carbon Reduction – Around 39% of the world’s annual CO2 emissions are attributed to buildings and construction. Embodied carbon emissions from the extraction and manufacture of products – accounts for 11% of this total.
Operational emissions, such as the energy necessary to heat, light, or cool a structure, have long been the focus of green building efforts. However, the World Green Building Council stated in 2019 that embodied carbon must be severely reduced. As a result, the environmental impact of construction products and materials is given more attention.
In their 2019 report, Bringing Embodied Carbon Upfront, the World Green Building Council set two bold targets:
* By 2030, all new buildings, including infrastructure and renovation projects will have at least 40% less embodied carbon.
* By 2050, new buildings, infrastructure and renovations will have net zero embodied carbon.
EPDs are designed to help with the embodied carbon challenge by making the environmental impact of products and materials more obvious so that efforts may be made to mitigate it. Their status as independently certified papers governed by international laws and standards means they are generally acknowledged and viewed with confidence and reliability across the construction industry.
Environmental Product Declaration
An EPD is a document that lays out the environmental performance of a construction product over time. EPDs allow construction professionals to compare the environmental impact of different products and make informed decisions about which to choose for their project.
Having an EPD for the products used in a construction project, earns credits towards sustainability assessments such as BREEAM and LEED.
EPD serves as the foundation for a fair evaluation of products and services based on their environmental performance. EPDs can show how products and services have improved their environmental performance over time, as well as communicate and aggregate relevant environmental data across a product’s supply chain.
EPDs are communication tools that bring complex life cycle assessments (LCAs) into a more user-friendly format by streamlining the information presented and enforcing as much consistency as possible.”
A life cycle assessment (LCA) is a method for determining the environmental impact of the product over its expected service life. Global warming potential (GWP), ozone depletion depletion potential (ODP), acidification potential (AP), eutrophication potential (EP), smog formation potential (SFP), and abiotic depletion potential are some of the most common impacts. The embedded carbon of a product is connected with the GWP, which is the most well-known because of its impact on climate change.
The ideas, methodology, requirements, and procedures for conducting a life cycle assessment (LCA) are provided by ISO 14040 and ISO 14044. The criteria pinpoint possibilities to improve a product’s environmental performance at various stages of its life cycle. ISO 14025 provides the concepts and procedures for creating Type II and Type III environmental declaration plans and declarations.
Getting ready for EN 15804+A2: what’s new and how to get ready?.
EN 15804, the foundational EPD standard, is widely used around the world. EN 15804 +A2, a substantial revision that drastically alters EPDs, was adopted in July 2019 and will become compulsory in July 2022.
New IPCC Report Reveals Greenhouse Gas Emissions Continue to Grow, Requiring Immediate and Radical Action
Greenhouse Gas Emissions The Intergovernmental Panel on Climate Change (IPCC) released a new report today that emphasizes the importance of rapid and profound reductions in greenhouse gas (GHG) emissions if the world is to avoid the worst climate impacts. According to the report, worldwide GHG emissions increased over the last decade, rising by nearly 12% from 2010 levels, decreasing our window for keeping global warming to 1.5°C.
To avoid exceeding this target, the world currently has only three years to reach a peak in emissions. However, the research also identifies certain signals of progress that must be accelerated. The annual rate of emissions growth declined from an average of 2.1% between 2000 and 2009 to 1.3% between 2010 and 2019 and GHG emissions have already peaked and started to decline in some countries.
The report also shows that cost-effective solutions are more available than ever and ready to be implemented, including switching to clean energy, halting deforestation and investing in carbon removal.
EU Climate Action
EU Climate Action : The EU Commission signed funding agreements for €1.1 billion with seven large-scale initiatives on April 1, 2022, through the EU Innovation Fund, which is funded by Emissions Trading System earnings (ETS). During the first ten years of operation, these initiatives are expected to cut CO2 emissions by more than 76 Mt CO2eq. The seven initiatives encompass critical sectors such as hydrogen, steel, chemicals, cement, solar energy, biofuels, and carbon capture and storage, and are deploying breakthrough low-carbon technologies at an industrial scale.
UAE Net Zero 2050 : The UAE’s Net-Zero by 2050 strategic project is a national effort to attain net-zero emissions by 2050, making the UAE the first country in the Middle East and North Africa to accomplish so.
Alignment of strategy : The effort is in line with the UAE’s Principles of the 50, a strategy for increasing national economic development as the country celebrates its golden jubilee year and enters a new 50-year growth cycle. The huge economic potential presented by the path to net-zero underpins a vision of the UAE is the world’s most dynamic economy.
The UAE’s strategic program, Net Zero 2050, is in line with the Paris Agreement, which requires countries to develop long-term plans to reduce greenhouse gas (GHG) emissions and prevent global climate change.