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You are here: Home1 / News2 / Race to zero

Tag Archive for: Race to zero

Green Program, regenerative agriculture, carbon-neutral buildings, nature-based climate solutions – new collaboration opportunities at the latest meeting of the Net Zero Advisory Board

News

Several new collaboration opportunities were identified at the latest meeting of the Net Zero Advisory Board on September 20th, aiming to harness synergies for the swift achievement of a climate-neutral economy. The event was moderated by Irén Márta, Director of BCSDH, who played a significant role in the establishment of the Advisory Board.

In his opening speech, Paul Fox, the Ambassador of the United Kingdom to Hungary, emphasized the importance of collaboration, as a lot of effort needs to be done to achieve climate goals. As part of the Green Deal, the EU Net Zero Industrial Partnership initiative can contribute to accelerating this, and he requested the support of the participants for this endeavor.

 

On the platform that brings together various stakeholders, Dr. Csaba Kandrács, Deputy Governor of the Central Bank of Hungary and the host of the event representing the regulatory side, highlighted that since the launch of the Green Program in 2019, their primary goal has been to promote environmental sustainability. As a novelty this year, they have extended their efforts beyond the financial system to address the entire corporate sector.

He emphasized the need for professional collaborations, such as the Nature-Based Climate Solutions working group initiated by the Central Bank of Hungary, which has prepared a specific outcome: the publication titled ‘Nature-based solutions and voluntary carbon markets – Corporate Buyer’s Guide’. This professional material, presented to the Advisory Board, was created with the professional support of BCSDH and WWF Hungary, and with the involvement of member companies. Additionally, BCSDH has prepared a CEO Guide for this occasion, which signifies that this collaboration and work will continue.

István Salgó, Honorary President of BCSDH, emphasized the importance of action, which is also the primary goal of the Business Council. It is crucial that alongside climate efforts, due attention is given to the conservation and restoration of biodiversity because these two business risks are closely interconnected.

In connection with this, Anikó Juhász, Deputy State Secretary of the Ministry of Agriculture, reported on the Hungarian situation and possibilities of regenerative agriculture. She emphasized the importance of education and the presentation of best practices, as well as the creation of an environment where farmers can learn from each other in order to implement soil renewal solutions. Collaboration is also necessary here to take a step forward.

Gábor Szarvas, the new President of the Hungary Green Building Council (HuGBC), participated in the event for the first time and introduced their Advancing Net Zero initiative, which can significantly promote the transition to climate-neutral operations in the built environment. As part of this, they have also prepared a Zero Carbon Recommendation this year.

The series of presentations was concluded by Andrea Nagy, the project manager of BCSDH, who outlined BCSDH’s annual activities in the field of biodiversity and provided a preliminary presentation of the professional recommendations proposed for the business sector.

At the event, Kárpáti András, the new President of the Future Mobility Alliance, introduced himself.

Participants agreed that the current collaboration can be further strengthened, with numerous related areas and synergies to explore. The next board meeting will focus on logistics as one of its key topics.

 

Participants of the Board Meeting:

  • Zsombor Barta – Parlamentary Senior Counselor – Referee for International Relations, National Council for Sustainable Development
  • Paul Fox – Ambassador of the UK to Hungary, British Embassy
  • Anikó Juhász – Deputy State Secretary, Ministry of Agriculture
  • Dr. Csaba Kandrács  – Deputy Governor, Central Bank of Hungary
  • András Kárpáti – President, Future Mobility Association
  • Kriszti Kocsis – Senior Policy Officer /Attache, Climate & Energy, Emerging Technologies, British Embassy
  • Marcell Kovács – Managing Director (Masped) representing MLBKT – Hungarian Association of Logistics, Purchasing and Inventory Management
  • Irén Márta – Managing Director, Business Council for Sustainable Development in Hungary (BCSDH)
  • Andrea Nagy – Project Leader, Business Council for Sustainable Development in Hungary (BCSDH)
  • István Salgó – Honorary President, Business Council for Sustainable Development in Hungary (BCSDH)
  • Gábor Szarvas – President, Hungary Green Building Council (HuGBC)

Please click here to see the photos.

The Net Zero Advisory Board, a comprehensive body representing multiple stakeholders across sectors, consists of representatives from the Hungarian industry and business leaders, government and associations. The Advisory Board was established in January 2021 as an initiative of the British Embassy and BCSDH.

21.09.2023
https://bcsdh.hu/wp-content/uploads/2023/09/DSC_4485-2.jpg 928 1392 Nagy Andrea https://bcsdh.hu/wp-content/uploads/2021/12/bcsdh-logo.png Nagy Andrea2023-09-21 09:06:552023-11-27 20:09:14Green Program, regenerative agriculture, carbon-neutral buildings, nature-based climate solutions – new collaboration opportunities at the latest meeting of the Net Zero Advisory Board

Without nature, there is no business – Diane Holdorf at the BCSDH Business Breakfast

News

We are gradually depleting and losing our natural resources. The net-zero goals of governments and businesses, which cover 70% of the global economy, are unattainable without ending deforestation this decade and protecting the marine environment, which currently absorbs 30% of global carbon dioxide emissions, as pointed out by Diane Holdorf, Executive Vice President of the World Business Council for Sustainable Development (WBCSD), at the BCSDH Business Breakfast and Forum on March 28, which focused on the interaction between businesses and nature. The participants were greeted by Dr. Csaba Kandrács, Vice President of the Hungarian National Bank, the host for the day.

The world’s most pressing challenges include the climate emergency, rapid biodiversity loss, dramatically growing social inequality, and the focus on assessing corporate performance from an economic perspective only. We are running out of time, and these four areas require immediate measures, action, and systemic change, alongside commitment at the highest level.

“We cannot achieve net zero without business action to halt and reverse nature loss. Nature represents a third of the climate solution, and biodiversity loss is accelerating. Every business depends on nature, with opportunities to invest in nature-based solutions which drive the transformational change that we need”, – stated Diane Holdorf, Executive Vice President of WBCSD, who represented the business world at the UN-initiated COP15 on biodiversity, where an important international agreement was reached for the preservation of biodiversity.

Katalin Sipos, Country Manager of WWF Hungary, summarized the domestic situation and discussed possible solutions.

“Due to the incredible technological development of humanity, we have become accustomed to seeking technical solutions for almost everything. However, hi-tech is not always the wisest choice – for the sustainability transition, we need cultural and value changes, as well as low-emission, low-tech solutions. And for some environmental problems, the simplest and most ancient solution is the best: nature itself as the solution”, – said Katalin Sipos in her presentation, emphasizing that climate commitments cannot be made at the expense of nature, but rather the change must be genuinely systemic, and built upon nature.

Nature is essential for creating a healthy humanity, a healthy business life, and a healthy planet. Climate, biodiversity, and water are all part of the same system, are closely interconnected, and no element can be separated from the others, as they are in constant interaction.

“More than half of the world’s GDP depends on nature and its services. That means it affects all of us, whether we know it or not, so everyone must act. That is why we have placed this topic in the focus of our professional program for 2023. We need systemic changes instead of isolated measures, which require deep and comprehensive cooperation among the business community, scientific experts, political decision-makers, investors, developers, and consumers. We believe that the business sector must take a leading role in achieving this desired rapid change”, – said Attila Chikán Jr., President of BCSDH, in his opening speech.

Following the presentations, company executives and corporate, scientific and civil experts discussed the current state and challenges of biodiversity, water and climate adaptation and revealed many business best practices and solutions at a closed-door forum.

 

29.03.2023
https://bcsdh.hu/wp-content/uploads/2023/03/DSC_1614.jpg 928 1392 eszter.chikankovacs https://bcsdh.hu/wp-content/uploads/2021/12/bcsdh-logo.png eszter.chikankovacs2023-03-29 11:16:022023-11-27 20:07:00Without nature, there is no business – Diane Holdorf at the BCSDH Business Breakfast

One hundred and thirty-three companies have expressed their high-level commitment to sustainability by adopting “Sustainable Business Management Guidelines”

News

The Business Council for Sustainable Development in Hungary (BCSDH) has developed into a leading organization for corporate sustainability, now representing the top executives of 133 responsible companies in Hungary. At its general assembly, held at MOL Campus, member companies accepted the ‘Sustainable Business Management Guidelines’ thereby expressing their desire to lead by example as well as manage their companies accordingly.

The ‘Sustainable Business Management Guidelines’ comprehensively outline how a sustainable company should operate. Our aim in creating the Management Guidelines was to provide guidance for corporate leaders in Hungary in terms of sustainable corporate governance. The members of the BCSDH are responsible leaders of leading companies in this area, who, by signing the membership agreement, undertake to accept these guidelines and are committed to leading their companies in this direction,” said István Salgó, BCSDH’s honorary president, who oversaw and supported the entire process with his expertise.

 

‘The ‘Sustainable Business Management Guidelines’ were developed in line with the system of criteria of our parent organization, the WBCSD, based on our Recommendations for Business Leaders and as part of our Time to Transform 2030 program. To monitor the progress of our members in this process, we track their results annually through our maturity survey. Our goal is to assist them by identifying areas for development and showing them best practices that will help them achieve real change and accelerate the process,” added Irén Márta, the organization’s executive director, after approval of the BCSDH 2022 report.

 

The BCSDH has defined its goal for 2023 as supporting its member companies and the business sector to achieve climate-neutral operations, restore biodiversity, promote an inclusive, equitable, and diverse corporate culture and operations, and fully respect human rights in business. The organization also aims to promote the highest level of transparency.

“Now is the time for action. Along with our 133 corporate members, we believe that small steps are no longer enough, and immediate change is needed in poorly functioning systems. We believe that the corporate sector must lead these changes. Those who act earlier will clearly be less affected by external factors such as rising energy prices or supply chain disruptions. Transformation requires a mindset change that fundamentally alters business leaders’ short- and long-term thinking and decision-making. It is important for BCSDH to have a highly committed community of companies and business leaders, which is why the widespread adoption of the Sustainable Business Management Guidelines is a significant step.” explained Attila Chikán Jr., president of BCSDH.

This intention is supported by our professional short-term and long-term work. The Time to Transform 2030 program, which will define the decade, was launched to accelerate systemic transformation, including the Race to Zero initiative, which will help the Hungarian economy become climate-neutral by 2050, the Circular Economy Platform, which aims to accelerate the transition to a circular economic model, and the ESG working group, which will prepare member companies to comply with stricter regulations through knowledge sharing. The “Future Leaders” Talent Program, now in its tenth year, continues to lend support and is a much-needed program for ensuring that as many business leaders as possible understand the Sustainable Business Management Guidelines and incorporate them into everyday business operations.

Related Galery

28.02.2023
https://bcsdh.hu/wp-content/uploads/2023/02/DSC_0419.jpg 928 1392 eszter.chikankovacs https://bcsdh.hu/wp-content/uploads/2021/12/bcsdh-logo.png eszter.chikankovacs2023-02-28 18:37:262023-03-01 11:41:50One hundred and thirty-three companies have expressed their high-level commitment to sustainability by adopting “Sustainable Business Management Guidelines”

Nobody Can Do It Alone – BCSDH Sustainability Matchmaking Event for Promoting Net-zero Goals

News
The world faces three critical challenges: the climate emergency, the loss of natural diversity, and growing social inequalities. Systemic changes are needed instead of isolated measures, which require profound and comprehensive cooperation across sectors and between economic actors.

The Business Council for Sustainable Development in Hungary (BCSDH), recognizing the opportunities inherent in synergy and partnership that its 133 leading company members can generate, organized a private Sustainability Matchmaking event for the second time on January 24, 2023, hosted by UniCredit Bank, to speed up the transition to carbon-neutral operations and encourage system-level change.

Joining the Race to Zero initiative, at the event organized in cooperation with the British Embassy, twenty companies presented their sustainability products and services and had the opportunity to have informal discussions with with more than thirty companies that were looking for sustainability solutions to help meet the goal of net zero.

On behalf of UniCredit Bank, Giacomo Volpi, Vice President and Deputy CEO, welcomed the participants.

“Glad to be part of this business-led, business-to-business event. It demonstrates that net zero makes business sense and that businesses are playing their role in driving the clean energy and economic transition” – highlighted Paul Fox, the Ambassador of the United Kingdom in Hungary, in his opening speech.

The most popular topics were energy efficiency, green energy, and circular economy solutions, but carbon footprint calculation and digital and financial solutions for promoting carbon neutrality were not far behind.

“The program clearly shows what the most pressing challenges are for companies. Significant progress has been made in defining net zero goals, even within one year, as our latest Towards Net Zero research conducted together with Deloitte shows that the number of companies committing to carbon neutrality has doubled. At the same time, carbon neutrality goals often do not include actual, measurable, scientific GHG emission reduction commitments, so there is still a long way to go“ – said Irén Márta, executive director of the BCSDH, in her welcome speech. “The research also pointed out that there is still a lot of uncertainty, a lack of knowledge is typical, and the allocation of resources within companies is often inadequate. The main incentives for companies to reduce emissions are maintaining or increasing competitiveness and complying with regulations. By presenting opportunities and good examples in this area, BCSDH can best help its member companies and the wider business environment” – she added.

It is an encouraging finding that areas related to the focal topic of the BCSDH for 2023 – the protection of biodiversity – already started to be addressed this year at the event: services related to regenerative agriculture, nature-based carbon neutralization, and sustainable water management.

More than half of the world’s GDP depends on nature and its services. In other words, all actors and companies are affected, so everyone has the responsibility and opportunity to act.

Thanks to the Sponsors of the 2023 Race to Zero Program:

24.01.2023
https://bcsdh.hu/wp-content/uploads/2023/01/DSC_9689.jpg 683 1024 Takacs Ivett https://bcsdh.hu/wp-content/uploads/2021/12/bcsdh-logo.png Takacs Ivett2023-01-24 19:57:002023-02-26 23:56:25Nobody Can Do It Alone – BCSDH Sustainability Matchmaking Event for Promoting Net-zero Goals

It’s time for action – 73% of companies have a net-zero goal

News

We are already living in the age of climate change, but we have all the tools and opportunities we need to act. Everyone can do their part to avoid the worst possible consequences. Company leaders have a special responsibility and opportunity to make positive systematic changes. The only question is how. This was the topic of the BCSDH’s business lunch held on October 13, which focused on the Time to Transform 2030 program which is aimed at fostering systemic change, and the Race to Zero program, which is helping to achieve net-zero emissions.

At the event, which was hosted by BNP Paribas, outstanding managers, leading women, and business solutions in the field of sustainability were recognized in three categories with the ‘For a Sustainable Future’ award this year.

Budapest, 13th October 2022 – “Business as usual” is not only being questioned but has been disrupted. We still have a chance to make the world a better place, but we only have a short window of time to transform our companies, our dysfunctional systems, and our society. What is needed for these changes to happen? Who can lead this change, and how? At the business lunch of the Hungarian Business Council for Sustainable Development (BCSDH), the framework of the Time to Transform 2030 program launched this year was presented in search of answers to these questions.

This year, for the sixth time, BCSDH – comprising 128 member companies which produce around 30% of Hungarian GDP – presented the ‘For a Sustainable Future’ award in the categories of Change Leader, Leading Women, and Business Solution.

Csaba Kőrösi, President of the UN General Assembly, joined in live via video link from New York, greeted the participants, and thanked the BCSDH for recognizing and certifying outstanding work for sustainability. In his thank you speech, he emphasized that we are at the beginning of a new historical era. It is necessary to put action onto a new track: to manage the crisis and implement transformation at the same time. To solve the challenges of water, climate, energy, food, and inequalities in a transformative way, which requires leaders of change. The management of the complex crisis must be based on scientific evidence.


Gergely Litkai, the founder and director of Dumaszínház, who as a climate activist is committed to the cause of sustainability, drew attention to the need for personal responsibility in his humorous yet serious performance: “There is an increasing chance that we will exceed 1.5oC, and our current lives will surely change. We are not mentally prepared for this. Everyone must first clarify what they can change. We need to mentally prepare ourselves so that we don’t experience this change as victims, but act in the hope of a good life. We need to rethink our systems to see if the measure of success is really what we think it is now, and we need to find new values that are sustainable. And what we can do, we must do, because everyone has responsibility. Individuals must change first, because all systems are built from them“ – Gergely Litkai explained.

In his introductory remarks, Attila Chikán Jr., President of the BCSDH, highlighted: “Now is the time for action. The pace and extent of changes so far are smaller than expected. We have all the tools for avoiding climate catastrophe; we just have to use them. The current crisis cannot postpone these steps. We still have a narrow window of time for the basic and immediate transformation of our systems. As the president of BCSDH, it is clear to me that companies must be at the forefront of systemic changes. Those who act earlier are apparently less likely to suffer from external effects such as rising energy prices or disruptions in supply chains. Transformation requires a change in attitude that will fundamentally change the short- and long-term ideas and decisions of business managers. This is what our Time to Transform 2030 program, which defines this decade, is all about.”

Things have to change, but how? – this question was the focus of the CEO round-table discussion moderated by Irén Márta, managing director of BCSDH, in which Dr. Zsuzsanna Diószegi, managing director of EUROAPI Hungary Kft., Sándor Baja, managing director of Randstad Hungary Kft., and Rajmond Percze, managing director of Agroloop Hungary Kft. shared their opinions.

Based on the data from the BCSDH corporate maturity survey, in the case of 85% of the participating companies sustainability aspects are integrated into management at some level, but often to a lesser degree than the development of their visions – i.e., economic aspects still often override sustainability action.

Further, according to 2022 Towards Net Zero research, the proportion of companies targeting carbon neutrality has more than doubled (73%) compared to last year’s survey, and 79% of companies have some kind of emission-reduction goals, but only 60% have specific goals, and only 44% are measuring at least Scope 1 and 2 emissions.

Main sponsor of Race to Zero program: Budapest Airport. Highlighted sponsor: E.ON, Denkstatt: Sponsors: Alteo, Buildext, Leaseplan, Unilever.

Sponsor of BCSDH’s carbon-conscious events: LeasePlan.

13.10.2022
https://bcsdh.hu/wp-content/uploads/2022/10/DSC_7337-1.jpg 683 1024 eszter.chikankovacs https://bcsdh.hu/wp-content/uploads/2021/12/bcsdh-logo.png eszter.chikankovacs2022-10-13 22:18:302023-02-27 00:13:34It’s time for action – 73% of companies have a net-zero goal

It’s a life-and-death fight to save the Earth – Mark Maslin at the BCSDH Business Breakfast

News

Climate change is now a matter of fact. Numerous pieces of data support the claim that human impact is having an unquestionable impact on this negative process. However, we have the tools, and we have the opportunity to reverse these effects – we just need to prepare for this serious fight. Prof. Mark Maslin pointed this out at the BCSDH Business Breakfast and Forum on May 10, focusing on the now-launched Time to Transform 2030 program, which aims for system-wide change.

Mark Maslin, FRGS, FRSA, and professor of Earth Systems Science at the University College of London, as well as the author of 2021’s How to Save Our Planet: The Facts, called for action and was guaranteed to equip everyone with the knowledge they need to change at the Business Breakfast and Time to Transform 2030 Forum of the Hungarian Business Council for Sustainable Development (BCSDH).

It is time to face the facts and realize that the relevant knowledge and technology are already in our hands and that companies must play a leading role. The business breakfast of BCSDH, with its 120 member companies that account for 30% of Hungary’s GDP, was followed by a workshop with the participation of CEOs and experts to identify domestic goals, opportunities, and challenges in the key areas of the now-debuting Time to Transform 2030 program.

In his introductory remarks, Attila Chikán Jr., President of BCSDH, emphasized: “Now is the time to act. The pace and extent of change so far is less than expected. We still have a tight time window for the fundamental and immediate transformation of our systems, with companies playing a leading role. Science has made it clear what needs to be done; economic actors need to take the necessary steps to do it. Transformation requires a change of approach that fundamentally changes the way business leaders view the short and long term. That’s what our Time to Transform 2030 program is all about.”

The world is facing three critical challenges: a climate emergency, the loss of natural diversity, and growing social inequality. The global average temperature is already around 1.2°C above pre-industrial levels, 68% of wildlife has already been lost, the richest 1% of society own 44% of global wealth, and the poorest 50% barely 2%.

“Climate data is disappointing, but no matter how bad the environment is, [the situation] can be reversed and we have all the tools at hand. These changes must start from bringing individuals together. Small deeds, when multiplied by millions of people, can change the world. But it is a life-and-death struggle for our planet with ourselves for ourselves. Individuals, governments and companies need to work together. In addition to accelerating the process by innovating and transforming their own activities, businesses need to help change individuals, change consumer habits, [and] help them to play a role in the fight against climate change, to support local communities, and create platforms” Professor Mark Maslin explained.

The guest of surprise at the event was Maryna Saprykina, managing director of CSR Ukraine, who presented concrete ways in which domestic companies can help them in the current situation.

According to preliminary data from the ongoing BCSDH Corporate Maturity Survey, the respondent organizations intend to increase their commitment to net-zero greenhouse gas emissions and biodiversity by 2025. At the same time, for most of them sustainability indicators are incorporated into management to a lesser extent than the development of this vision – i.e., economic considerations still often override sustainability needs.

“It’s time to do more than just talk about sustainability, carbon neutrality. This is our last chance not to have to suffer the harshest effects of climate change. It is not easy for a company to operate profitably and sustainably at the same time. In the short run, these solutions may be more expensive, but in the long run, these transformations will make companies more resilient and competitive. The goal is to preserve the Earth for future generations, and that can only be succeed together, bringing together consumers, business leaders and government decision-makers. ”– Added László Károlyi, CEO of Legrand Zrt., Host of the event.

“The goals of our vision are still achievable. But the next eight years are critical, and every single day counts. This decade of BCSDH is defined by the Time to Transform 2030 program, which builds on the results of Action 2020. The three key elements of the program are the nine Paths and the Action Plan to 2050, the high level of commitment of our members, and the maximum transparency that embraces them” – said Irén Márta, Managing Director of BCSDH, when presenting the new program.

The business breakfast was followed by the Time to Transform 2030 Professional Forum, the primary aim of which is to initiate joint thinking and define the domestic goals associated with the nine paths of the new program.

*****

Prof. Mark Maslin, FRGS, FRSA.

Mark Maslin FRGS, FRSA, is a Professor of Earth System Science at UCL. He is the Director of Rezatec Limited, Founding Director of the London NERC Doctoral Training Partnership, a member of the Cheltenham Science Festival Advisory Board, a CSR Board member of Sopra-Steria, NetZeroNow and Sheep Included Ltd. and a member of the Climate Crisis Advisory Group.

Maslin is a leading scientist with a particular interest in understanding climate change and the major challenges facing humanity in the 21st century. He has published over 180 papers in journals such as Science, Nature, and The Lancet. He was the climatologist on the original 2009 The Lancet report on climate change and global health and has been one of the authors of the annual Lancet Countdown reports since 2015.  

Mark has written 10 books and over 60 popular articles (e.g., for New Scientist, Independent, Guardian, Telegraph, New York Times and The Conversation). His latest book is How to save our planet: the facts (Penguin, 2021). 

Mark also co-founded Rezatec Ltd. in 2012, which employs 50 staff, and is now one of the world’s leading geospatial analytics companies, providing AI “big data” solutions to environmental issues for companies, NGOs, and local and national governments. Mark is also the UNFCCC-designated point of contact and COP26 lead for UCL.

10.05.2022
https://bcsdh.hu/wp-content/uploads/2022/05/DSC_5459.jpg 683 1024 eszter.chikankovacs https://bcsdh.hu/wp-content/uploads/2021/12/bcsdh-logo.png eszter.chikankovacs2022-05-10 22:40:182023-02-27 00:35:33It’s a life-and-death fight to save the Earth – Mark Maslin at the BCSDH Business Breakfast

The evidence is clear: the time for action is now. We can halve emissions by 2030.

News

GENEVA, Apr 4 – In 2010-2019 average annual global greenhouse gas emissions were at their highest levels in human history, but the rate of growth has slowed. Without immediate and deep emissions reductions across all sectors, limiting global warming to 1.5°C is beyond reach. However, there is increasing evidence of climate action, said scientists in the latest Intergovernmental Panel on Climate Change (IPCC) report released today.

Since 2010, there have been sustained decreases of up to 85% in the costs of solar and wind energy, and batteries. An increasing range of policies and laws have enhanced energy efficiency, reduced rates of deforestation and accelerated the deployment of renewable energy.

“We are at a crossroads. The decisions we make now can secure a liveable future. We have the tools and know-how required to limit warming,” said IPCC Chair Hoesung Lee.  “I am encouraged by climate action being taken in many countries. There are policies, regulations and market instruments that are proving effective.  If these are scaled up and applied more widely and equitably, they can support deep emissions reductions and stimulate innovation.”

The Summary for Policymakers of the IPCC Working Group III report, Climate Change 2022: Mitigation of climate change was approved on April 4 2022, by 195 member governments of the IPCC, through a virtual approval session that started on March 21. It is the third instalment of the IPCC’s Sixth Assessment Report (AR6), which will be completed this year.

We have options in all sectors to at least halve emissions by 2030

Limiting global warming will require major transitions in the energy sector. This will involve a substantial reduction in fossil fuel use, widespread electrification, improved energy efficiency, and use of alternative fuels (such as hydrogen).

“Having the right policies, infrastructure and technology in place to enable changes to our lifestyles and behaviour can result in a 40-70% reduction in greenhouse gas emissions by 2050. This offers significant untapped potential,” said IPCC Working Group III Co-Chair Priyadarshi Shukla. “The evidence also shows that these lifestyle changes can improve our health and wellbeing.”

Cities and other urban areas also offer significant opportunities for emissions reductions.  These can be achieved through lower energy consumption (such as by creating compact, walkable cities), electrification of transport in combination with low-emission energy sources, and enhanced carbon uptake and storage using nature. There are options for established, rapidly growing and new cities.

“We see examples of zero energy or zero-carbon buildings in almost all climates,” said IPCC Working Group III Co-Chair Jim Skea. “Action in this decade is critical to capture the mitigation potential of buildings.”

Reducing emissions in industry will involve using materials more efficiently, reusing and recycling products and minimising waste. For basic materials, including steel, building materials and chemicals, low- to zero-greenhouse gas production processes are at their pilot to near-commercial stage.

This sector accounts for about a quarter of global emissions. Achieving net zero will be challenging and will require new production processes, low and zero emissions electricity, hydrogen, and, where necessary, carbon capture and storage.

Agriculture, forestry, and other land use can provide large-scale emissions reductions and also remove and store carbon dioxide at scale. However, land cannot compensate for delayed emissions reductions in other sectors.  Response options can benefit biodiversity, help us adapt to climate change, and secure livelihoods, food and water, and wood supplies.

The next few years are critical

In the scenarios we assessed, limiting warming to around 1.5°C (2.7°F) requires global greenhouse gas emissions to peak before 2025 at the latest, and be reduced by 43% by 2030; at the same time, methane would also need to be reduced by about a third. Even if we do this, it is almost inevitable that we will temporarily exceed this temperature threshold but could return to below it by the end of the century.

“It’s now or never, if we want to limit global warming to 1.5°C (2.7°F),” said Skea. “Without immediate and deep emissions reductions across all sectors, it will be impossible.”

The global temperature will stabilise when carbon dioxide emissions reach net zero. For 1.5°C (2.7°F), this means achieving net zero carbon dioxide emissions globally in the early 2050s; for 2°C (3.6°F), it is in the early 2070s.

This assessment shows that limiting warming to around 2°C (3.6°F) still requires global greenhouse gas emissions to peak before 2025 at the latest, and be reduced by a quarter by 2030.

Closing investment gaps

The report looks beyond technologies and demonstrates that while financial flows are a factor of three to six times lower than levels needed by 2030 to limit warming to below 2°C (3.6°F), there is sufficient global capital and liquidity to close investment gaps. However, it relies on clear signalling from governments and the international community, including a stronger alignment of public sector finance and policy.

“Without taking into account the economic benefits of reduced adaptation costs or avoided climate impacts, global Gross Domestic Product (GDP) would be just a few percentage points lower in 2050 if we take the actions necessary to limit warming to 2°C (3.6°F) or below, compared to maintaining current policies,” said Shukla.

Achieving the Sustainable Development Goals

Accelerated and equitable climate action in mitigating and adapting to climate change impacts is critical to sustainable development.  Some response options can absorb and store carbon and, at the same time, help communities limit the impacts associated with climate change. For example, in cities, networks of parks and open spaces, wetlands and urban agriculture can reduce flood risk and reduce heat-island effects.

Mitigation in industry can reduce environmental impacts and increase employment and business opportunities. Electrification with renewables and shifts in public transport can enhance health, employment, and equity.

“Climate change is the result of more than a century of unsustainable energy and land use, lifestyles and patterns of consumption and production,” said Skea. “This report shows how taking action now can move us towards a fairer, more sustainable world.”

06.04.2022
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Climate change: a threat to human wellbeing and health of the planet – Taking action now can secure our future – IPCC Working Group II report

News

BERLIN, Feb 28 – Human-induced climate change is causing dangerous and widespread disruption in nature and affecting the lives of billions of people around the world, despite efforts to reduce the risks. People and ecosystems least able to cope are being hardest hit, said scientists in the latest Intergovernmental Panel on Climate Change (IPCC) report, released today.

“This report is a dire warning about the consequences of inaction,” said Hoesung Lee, Chair of the IPCC. “It shows that climate change is a grave and mounting threat to our wellbeing and a healthy planet. Our actions today will shape how people adapt and nature responds to increasing climate risks.”

The world faces unavoidable multiple climate hazards over the next two decades with global warming of 1.5°C (2.7°F). Even temporarily exceeding this warming level will result in additional severe impacts, some of which will be irreversible. Risks for society will increase, including to infrastructure and low-lying coastal settlements.

The Summary for Policymakers of the IPCC Working Group II report, Climate Change 2022: Impacts, Adaptation and Vulnerability was approved on Sunday, February 27 2022, by 195 member governments of the IPCC, through a virtual approval session that was held over two weeks starting on February 14.

 

Urgent action required to deal with increasing risks

Increased heatwaves, droughts and floods are already exceeding plants’ and animals’ tolerance thresholds, driving mass mortalities in species such as trees and corals. These weather extremes are occurring simultaneously, causing cascading impacts that are increasingly difficult to manage. They have exposed millions of people to acute food and water insecurity, especially in Africa, Asia, Central and South America, on Small Islands and in the Arctic.

To avoid mounting loss of life, biodiversity and infrastructure, ambitious, accelerated action is required to adapt to climate change, at the same time as making rapid, deep cuts in greenhouse gas emissions. So far, progress on adaptation is uneven and there are increasing gaps between action taken and what is needed to deal with the increasing risks, the new report finds. These gaps are largest among lower-income populations.

The Working Group II report is the second instalment of the IPCC’s Sixth Assessment Report (AR6), which will be completed this year.

“This report recognizes the interdependence of climate, biodiversity and people and integrates natural, social and economic sciences more strongly than earlier IPCC assessments,” said Hoesung Lee. “It emphasizes the urgency of immediate and more ambitious action to address climate risks. Half measures are no longer an option.”

Safeguarding and strengthening nature is key to securing a liveable future

There are options to adapt to a changing climate. This report provides new insights into nature’s potential not only to reduce climate risks but also to improve people’s lives.

“Healthy ecosystems are more resilient to climate change and provide life-critical services such as food and clean water”, said IPCC Working Group II Co-Chair Hans-Otto Pörtner. “By restoring degraded ecosystems and effectively and equitably conserving 30 to 50 per cent of Earth’s land, freshwater and ocean habitats, society can benefit from nature’s capacity to absorb and store carbon, and we can accelerate progress towards sustainable development, but adequate finance and political support are essential.”

Scientists point out that climate change interacts with global trends such as unsustainable use of natural resources, growing urbanization, social inequalities, losses and damages from extreme events and a pandemic, jeopardizing future development.

“Our assessment clearly shows that tackling all these different challenges involves everyone – governments, the private sector, civil society – working together to prioritize risk reduction, as well as equity and justice, in decision-making and investment,” said IPCC Working Group II Co-Chair Debra Roberts.

“In this way, different interests, values and world views can be reconciled. By bringing together scientific and technological know-how as well as Indigenous and local knowledge, solutions will be more effective. Failure to achieve climate resilient and sustainable development will result in a sub-optimal future for people and nature.”

Cities: Hotspots of impacts and risks, but also a crucial part of the solution

This report provides a detailed assessment of climate change impacts, risks and adaptation in cities, where more than half the world’s population lives. People’s health, lives and livelihoods, as well as property and critical infrastructure, including energy and transportation systems, are being increasingly adversely affected by hazards from heatwaves, storms, drought and flooding as well as slow-onset changes, including sea level rise.

“Together, growing urbanization and climate change create complex risks, especially for those cities that already experience poorly planned urban growth, high levels of poverty and unemployment, and a lack of basic services,” Debra Roberts said.

“But cities also provide opportunities for climate action – green buildings, reliable supplies of clean water and renewable energy, and sustainable transport systems that connect urban and rural areas can all lead to a more inclusive, fairer society.”

There is increasing evidence of adaptation that has caused unintended consequences, for example destroying nature, putting peoples’ lives at risk or increasing greenhouse gas emissions. This can be avoided by involving everyone in planning, attention to equity and justice, and drawing on Indigenous and local knowledge.

A narrowing window for action

Climate change is a global challenge that requires local solutions and that’s why the Working Group II contribution to the IPCC’s Sixth Assessment Report (AR6) provides extensive regional information to enable Climate Resilient Development.

The report clearly states Climate Resilient Development is already challenging at current warming levels. It will become more limited if global warming exceeds 1.5°C (2.7°F). In some regions it will be impossible if global warming exceeds 2°C (3.6°F). This key finding underlines the urgency for climate action, focusing on equity and justice. Adequate funding, technology transfer, political commitment and partnership lead to more effective climate change adaptation and emissions reductions.

“The scientific evidence is unequivocal: climate change is a threat to human wellbeing and the health of the planet. Any further delay in concerted global action will miss a brief and rapidly closing window to secure a liveable future,” said Hans-Otto Pörtner.

01.03.2022
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The financial sector is ready to finance the net zero transition

News

Budapest, January 26, 2022: 31% of Hungary’s leading companies have already made a commitment to net zero. Significant financial resources are needed to accompany the expected increase in commitments. Is green funding ready to fill the gap? The Business Council for Sustainable Development in Hungary (BCSDH) and the British Embassy held a business forum with the participation of the Net Zero Advisory Board to present the current domestic and European situation of green financing to business actors.

 

It is important for as many companies as possible to commit to net zero targets, potentially even by joining the UN Race to Zero Campaign, but it is also essential to find the means by which to help them in this process.

“This event helps orientate companies to where they can source funding to decarbonise their operations. I hope it will encourage Hungarian businesses to sign up to the UN’s global Race to Zero Campaign where progressive businesses commit to the Net Zero target by 2050. Not only is this a target driven by government and international commitments and good for the planet, but it makes good business sense too” – said Richard Shackleton, Deputy Head of Mission of the British Embassy in his opening remarks.

The COP26 climate conference in Glasgow was a success in this field and the global financial sector appeared to be ready for action. With the announcement by the Glasgow Financial Alliance for Net Zero (GFANZ) it has become clear that 100+ trillion dollars are potentially available for engaging in climate action. Further, there was the historical launch of the International Sustainability Standards Board (ISSB) – a long-desired global standard-setter for capital market sustainability (ESG) disclosure that will truly prepare the world for the consolidation and standardization of materiality-based reporting on greenhouse gas emissions.

The EU also wants to mobilize its green financial resources.

“Hungary wants to be a net climate-neutral country by 2050, and we have also committed to a 55 percent national reduction by 2030. Companies play a key role in this process, and the domestic financial and consulting sector is also prepared to accelerate the process, for which such forums are essential” – highlighted Attila Chikán Jr., President of the BCSDH, pointing out the long-term positive processes that are just beginning.

“Inevitably, capital market engagement for business will radically change in this decade, and the standardization of ESG disclosure will integrate impacts on natural and social capital into the cost of capital for companies” – he added.

 Csaba Kandrács Dr., Deputy Governor of Hungarian National Bank spoke about “The Hungarian National Bank’s policy in support of sustainable financing in 2022”
Szabolcs Ágostházy Dr., Prime Minister’s Office’s State Secretary for EU Development Projects,  gave a presentation about “EU funds for green investments in the 2021-2027 period”

Ákos Lukács, Head of Sustainability and Climate Change of Deloitte spoke about “Corporate net-zero ambitions matching sustainable finance products”
Gergely Pókos, Director of Green Program Directorate of OTP Bank gave a presentation about “Vision of green banking products in corporate finance practice” 

The BCSDH aims to generate changes in models and business solutions in Hungary that have a real impact on climate change and can generate real responses to domestic challenges due to their take up by other companies. An important step has been the establishment of the Net Zero Advisory Board that has the aim of increasing the focus on economic, governmental, and social factors in the transition to a carbon-neutral economy.

***

Race to Zero

The Race to Zero is the UN-led campaign for a zero-carbon world. Close to 5227 businesses, including the likes of Facebook, Tesco, LafargeHolcim, and Magyar Telekom, and 441 of the biggest investors have joined the global Race to Zero campaign, along with over 1049 cities, 23 regions, and 1039 universities. Businesses of all sizes and across all sectors have a clear role to play in climate action, in line with the Paris Agreement.

Over the coming years, every sector in every market will be transformed as the transition to a low-carbon economy is underway. Committing to the Race to Zero goals of net zero carbon emissions by 2050 is also taking the steps necessary to protect and grow your business by reducing costs, by enhancing access to investor capital, by staying ahead of policies and regulations to limit GHG emissions, by increasing your business’ preparedness to external shocks, and by leading on tomorrow’s innovation and transformation.

27.01.2022
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Meeting the 1.5°C target cannot be achieved without the circular economy

News

Implementing the strategies for achieving a circular economy would reduce global greenhouse gas emissions by 39%. How to achieve climate goals through the circular transition? – this burning issue was at the heart of the fourth Circular Economic Summit, which was held with the participation of almost 170 people on 25 November 2021.

The world as a whole is a long way from operating as a circular economy. The circular economy involves a number of tools and complex systems and is one of the most effective things we can do to tackle climate change and rebuild biodiversity. The biggest circular event of the year (held with the help of ING Bank) provided a number of corporate and start-up examples of the circular economy and an overview of international processes.

Today, the Circular Economy Platform, which was established at the initiative of the Hungarian Business Council for Sustainable Development (BCSDH), the Dutch Embassy, and the Hungarian Ministry of Innovation and Technology, consists of 94 members. These institutions have highlighted knowledge-sharing, collaboration, and immediate action as the platform’s most important tasks.

Tibor Bodor, CEO Hungary & Head of Wholesale Banking CEE said the following: “we see more and more market-makers emerging in the area of the circular economy. This provides us with a positive view, with the expectation of increasing the speed of sustainable transitions.”

The world is facing three critical challenges: a climate emergency, loss of natural diversity, and growing social inequality. Climate change is not a phenomenon of the future: we are already increasingly experiencing its effects in the form of heat waves and droughts, torrential rain, and even severe windstorms. Most of the effects of the climate change will take place through water-related changes.

A substantial acceleration of ambition and action is needed to meet the Paris Agreement targets. One of the main successes of the now-concluded COP26 is that more ambitious, net zero-emission national commitments have been made. While three weeks before the event global emissions targets covered only two-thirds of those required to reach net zero, after COP26 they had increased to 90%. Hungary wants to be a net climate-neutral country by 2050 and has also committed to a 55 percent national reduction in emissions by 2030.

“Companies also need to act now. A company that does not change in time is taking a serious risk. No longer can ‘low-carbon’ be the sole objective: climate neutrality must be achieved urgently through new technological solutions and the spread of the circular economy and rapid changes in consumption patterns at all levels – highlighted Attila Chikán Jr, President of BCSDH. “As in so many other areas, companies are leading the way, and a growing number of them are already integrating circular economy principles into their strategies. For the time being, these solutions are mostly seen as new business opportunities alongside preexisting ‘material-intensive’ processes. But the aim should increasingly be to replace the latter, as this can only slow down the use of natural resources” – he added.

Of all the natural resources water deserves special attention, as the basis for effective climate adaptation. In addition to an increase in the average temperature, Hungary is expected to be hit hardest by a growing water shortage. Implementing circular water management is urgent and necessary.
This should contribute to keeping water resources in the system for as long as possible, thereby helping to reduce the water footprint.

At present, Hungary is not managing its natural resources wisely, and it is still some way from achieving a circular economy, but it is encouraging that the Hungarian legislative process has started to address the circular economy. These are important steps that will help ensure that Hungary’s further development does not happen at the expense of its natural resources.

The guest speaker at the Circular Economy Summit was Vojtech Vosecky, a leading expert in the field of the circular economy and associate at the one of the world’s leading transition organizations, Circle Economy. He gave a presentation about the links between climate protection goals and the circular economic transition.

Measuring circularity on a company level – and the CTI system and its practical application, as developed by the WBCSD jointly with KPMG – was the topic of the roundtable discussion led by Irene Martinetti, WBCSD Circular Economy Manager.

In addition to learning about a number of international and domestic examples of circular water management, including corporate and start-up solutions, the Circular Regions Project was introduced to provide an overview of the potential of regional cooperation on the topic of the circular economy.

“The Circular Economy is becoming a significant pillar of the Netherland’s diplomatic activities and this region is playing an important role in that. It is good to see that the regional approach is also represented here today, where our practices inspire other countries and we get inspired by the examples of others, showing how the circular transition can respond to the complex ecological issues of our time” – added Désirée Bonis, Ambassador of the Kingdom of the Netherlands to Hungary.

Transitioning to a circular economy is a great business opportunity today. The core of the concept is not yet deeply understood by most companies, although the use of this model can increase the resilience of the world economy and facilitate the achievement of the Paris Climate Change Agreement and the United Nations Sustainable Development Goals. The circular economy could generate business opportunities worth $4.5 billion worldwide by 2030.

Thus, within the Circular Economy Platform’s highly successful Circular Economy Academy, participants benefit from insight from renowned experts about circular performance measurement systems, food waste, and circular design. Furthermore, they have been able to learn about the latest circular business models through innovative international and domestic examples. The work continues, while the focus remains on knowledge-sharing, collaboration, and action.

*****

The Circular Economy

According to the current so-called linear economic model, technical and biological components are extracted from nature, transformed, and are then disposed of without recycling.
In contrast, in the circular economic model, metabolic processes occur in a closed circle, waste is almost 100% recycled, and biological and technological components are returned to the cycle with minimum loss of quality.

Thanks for our Sponsors in 2021:

25.11.2021
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