Dust storms are a hazard of climate change, yet leading financial disclosure initiatives fail to include this and other hazards in their physical climate risk assessment guidance. Photo by amazingsdj/Pixabay
The record-breaking wildfires and hurricanes of 2020 may not stand out as the worst catastrophes in a year defined by compounding crises. But these natural disasters are among the long list of physical climate hazards becoming more frequent and intense. Globally, natural disasters caused $210 billion in damages in 2020, $95 billion in the United States alone.
Scientific evidence tells us these trends will only worsen as global temperatures rise, taking a toll on human life, infrastructure, economic activity and financial stability especially if risks continue to go underpriced. By 2100, climate change could cost the global economy hundreds of trillions of dollars.
UP GHG Targets Greenlighted Written by Marybeth Luczak, Executive Editor
UP has committed to a 26% reduction in “absolute scope 1 and 2” GHG emissions from operations by 2030, against a 2018 baseline.
The Science Based Targets Initiative (SBTi) has approved Union Pacific’s greenhouse gas (GHG) emissions reduction targets.
The commitment, UP said, is a 26% reduction in “absolute scope 1 and 2” GHG emissions from operations by 2030, against a 2018 baseline.
SBTi “independently assesses corporate emissions reduction targets in line with what climate scientists say is needed to meet the Paris Agreement goals limiting global warming to well below 2°C above pre-industrial levels,” UP said.
“Committing to achieve our SBTi targets is just one piece of our railroad’s overall Environmental, Social and Governance (ESG) strategy,” Chief Human Resource Officer Beth Whited said. “Built on four areas of concentration En
Oil and gas giant sets sights on developing science-based climate targets, as hydrogen, nature based solutions, carbon capture, utility business, and electric vehicle infrastructure all earmarked for increased investment