Capital Ambition commissioned Trucost to measure the carbon footprints of the supply chains of London local authorities. The study provides insight into the main sources of greenhouse gas (GHG) emissions from their procurement. Trucost engaged with suppliers of goods and services and shared information with local authorities about opportunities to cut carbon, which could also result in cost savings.
On average, every £ million of expenditure by local authorities in London resulted in 337 tonnes of GHG emissions, measured in carbon dioxide equivalent (CO2e). Local authorities with smaller carbon footprints than the average are well placed for controls on carbon and could help others identify carbon savings in their supply chains.
Local authority carbon footprints provide a baseline for targets to reduce emissions from supply chains. A range in the carbon footprints of procurement from 167 tCO2e per £ million of expenditure to 674 tCO2e/£ mn suggests that some local authorities could make big improvements in carbon efficiency. Plans to cut carbon can focus on sectors that add most to carbon footprints. The overall supply chain carbon footprint is mainly due to the high carbon intensity of sectors such as utilities and construction.
The GreenFin Summit follows a successful launch event in 2019. That invitation-only event brought together 100 corporate sustainability leaders, major public-sector pension fund executives and leading financial institutions, with over a trillion dollars of combined assets under management. The discussion broached vital topics in ESG that will be expanded upon at the 2020 Summit. Richard Mattison...