As efforts to mitigate the impacts of climate change intensify, greenhouse gas (GHG) emissions – and their sources – are facing increased scrutiny from governments and the public. Energy companies are navigating unfamiliar risks, opportunities, and challenges brought on by evolving environmental regulations, emerging carbon markets, and a growing end user demand for sustainable energy. The transition is underway and unavoidable. How should energy companies confront it? Better yet, how might they take advantage?
A voluntary emissions reductions initiative is a coordinated effort managed by an administering organization that enables participants to take standardized voluntary steps towards targeting, achieving, and/or taking credit for emissions reductions.
Highwood has produced a free report on Voluntary Emissions Reduction Initatives for Responsibly Sourced Gas. We have found the following findings:
- Verification via independent auditing is the exception, not the norm
- Voluntary initiatives tend to be broad in geographical and sectoral scope
- Most initiatives are nonprescriptive in terms of technology use
- Commitments are more common than certifications, guidelines, and ESG ratings
- Participation is often limited to companies, excluding governments, coalitions, and other groups
- Certification programs are new, limited in number, and have low participation
- Full public disclosure of unaggregated data is never required
Download the report below and connect with Highwood for more information on how to take advantage of these initiatives.