European asset managers Mirova and Robeco, founders of an initiative to standardise the calculation of avoided greenhouse gas (GHG) emissions, have selected sustainability consultancies I Care and Quantis to develop the standard. They will develop a global database of factors to underpin standardised and transparent calculation of the emissions avoided by an extensive list of low-carbon and green enabling products. Robeco and Mirova said a global standard for evaluating avoided emissions would provide transparency and comparability, and help investment be better channeled towards the solutions with the greatest potential for decarbonisation. The database will initially cover 80 low-carbon products, such as recycled plastic and low-carbon concrete. A first version will be made available to users with a requirement to calculate avoided emissions in Q4. The initiative is supported by 9 founding partners, representing more than US$2 trillion of assets under management. “Avoided emissions are the missing piece of the puzzle when it comes to facilitating transition finance,” said Carola van Lamoen, Head of Sustainable Investing at Robeco. “At a global level, much more capital needs to go into climate solutions.” “This metric can help to direct capital flows towards companies that provide the most effective climate solutions.” With support from investors, academics, and other stakeholders, Mirova and Robeco hope to establish the avoided emissions metric as a standard that can be used alongside alignment metrics for the identification of companies critical to the net zero transition.
Mirova and Robeco announce I Care and Quantis to develop a global standard for calculating emissions avoided by low-carbon solutions https://t.co/qIKJbyn6jJ #mirova
— Vincent Moreau (@vmoreauv) January 26, 2024
