Climate benchmarks published for high-emitting sectors

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The Transition Pathway Initiative (TPI) has published climate benchmarks for high-emitting sectors such as oil and gas, mining, aviation, shipping and automobiles.

TPI, which is backed by investors with over $40 trillion of assets under management, assesses companies’ progress on the transition to a low-carbon economy. Its pathways are used by investors to assess how far companies in their portfolios are aligned with the goals of the Paris Agreement.

As an example, TPI’s decarbonisation pathway for aviation states that if a company wants to be aligned with a 1.5°C path, then its emissions intensity by 2030 must be below 616 tonnes of CO₂/RTK (revenue tonne kilometre).

Adam Matthew, TPI chair and chief responsible investment officer for the Church of England, said the pathways provided a “rigorous framework” for assessing corporate climate change performance.

‘They are recognised by investors as the authoritative transition of the International Energy Agency’s scenarios into credible performance benchmarks for industry sectors and for individual companies.”

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