Climate change and decarbonization Climate change and decarbonization Climate change and decarbonization

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Greenhouse Gas (GHG) Emissions are the emission into the earth’s atmosphere of any GHG’s that contribute to the greenhouse effect, causing climate change, especially carbon dioxide from burning fossil fuels (coal, oil & natural gas). Reported by Scope 1 (direct combustion - e.g. gas), Scope 2 (indirect e.g. electricity) and Scope 3 (emissions within a company’s value chain such as use of sold product or travel).

A carbon footprint is the total amount of GHG emissions caused by an organization (or product, place, etc). Expressed as carbon dioxide equivalent (CO2e).

Refers to a state in which the greenhouse gases going into the atmosphere are balanced by removal out of the atmosphere. Many organizations are now making net-zero pledges, including KPMG.

Refers to the removal and permanent storage of atmospheric carbon to counterbalance the effect of releasing CO2 into the atmosphere through activities (e.g., carbon sequestration or innovative technology).

The Paris Agreement is the first-ever universal, legally binding global climate change agreement, adopted at the Paris climate conference (COP21) in 2015. The Paris Agreement’s central aim is to limit global warming to well below 2°C and pursuing efforts to limit it to 1.5°C. As of the end of 2020, 189 Parties out of 197 Parties to the Convention have ratified the Paris Agreement.

The CDP (formerly the Carbon Disclosure Project) is a not-for-profit charity that runs the global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts. CDP scores name the world’s cities and companies leading on environmental performance.

Greenhouse gas (GHG) footprint development assists organizations in managing GHG risks and identifying reduction opportunities. KPMG in Canada can help clients set a net zero ambition, assess impacts of climate change on capital programs, and model climate risks.

The top six areas of climate change risk facing Canada include physical infrastructure, coastal communities, northern communities, human health and wellness, ecosystems, fisheries. KPMG in Canada climate risk management and decarbonization can help clients understand and address climate change, prepare for a low-carbon future and reduce carbon emissions.