By Dave Aleppo 2020-12-18T12:26:00+00:00
Dealing with climate change is a responsibility we all share – but trustees may be wondering how they get from their starting point to the required end-goal. This ‘carbon journey’ needs a plan.
For pension trustees that are familiar with the concept of a traditional funding journey plan, the creation of what we describe as a carbon journey plan can provide the climate-related equivalent.
For many pension funds, the traditional journey plan objective focuses on full funding (likely with a risk buffer) on a technical provisions, self-sufficiency or buy-out basis.
Similarly, well-defined climate goals have emerged within the international community over the last decade, including the Paris Agreement aim of limiting global temperature increases.
This opinion piece is written by Alec Tang, Auckland Council Acting Chief Sustainability Officer.
Cities consume over two-thirds of the worldâs energy and account for more than 70 per cent of global CO2 emissions, so have a critical role to play in meeting our emissions reduction commitment. On top of this, with 90 per cent of the worldâs urban areas situated on coastlines, cities are at high risk from some of the devastating impacts of climate change, such as rising sea levels and powerful coastal storms.
TÄmaki Makaurau Auckland is no different. In fact, with a seemingly indefatigable obsession with automobiles and a push for further growth into areas already at risk to climate impacts, Aucklandâs challenge is one that epitomises the need for a transformational approach to climate action, not simply business as usual with a bit less carbon.