TT Club and BSI have partnered for a number of years, particularly around the topic of supply chain security. BSI deliver environmental, health and safety, security and sustainability services to the industry, and have become a key partner for TT Club in the context of the ESG toolkit.
As a result of escalating concerns over the consequences of global climate change, various regulatory frameworks have emerged. As scientific consensus solidifies around the human influence on rising temperatures, policymakers worldwide are facing an urgent mandate to design and implement measures that curtail carbon emissions, promote sustainable practices, and safeguard vulnerable ecosystems.
In brief, carbon offsetting involves compensating for emissions by supporting external projects, while carbon capture is about capturing and managing emissions directly from your own operations. Both approaches play a role in reducing a company's overall carbon impact, but they target emissions at different stages of the carbon lifecycle.
Science-based targets initiative (SBTi) are specific, measurable goals that organizations set to reduce their greenhouse gas emissions in alignment with the latest climate science and the global effort to limit global warming. These targets are designed to ensure that emission reduction efforts are consistent with the goals of the Paris Agreement.
As nations around the globe ramp up action their against climate change and move their economies towards net-zero greenhouse gas (GHG) emissions, new practices, opportunities and indeed challenges are likely to arise for their respective ports and logistics operations. However, every journey will be unique, knowing what to consider and where to start will be starkly different for a freight forwarder versus a port or container terminal.
Carbon credits are seen by several organisations as a crucial element towards achieving global net zero emissions by 2050, but despite earning a billion-dollar valuation from global companies, carbon credits have long struggled to inspire confidence. Some environmental groups approach carbon markets with scepticism, claiming that they allow companies to appear as though they are leading on climate action, when in fact they are not. In fact, the Science Based Targets initiative (SBTi) does not allow achieving short-term carbon reduction targets using carbon credits and by 2050 only up to 10% is allowed to be achieved through removal credits. Recently, the European Union also banned advertising of products and services as “carbon neutral” if the neutrality was achieved using carbon credits.
TT Club longtime Member PD Ports are a UK ports and logistics business with 12 sites across England ranging from Hartlepool in the North to the Isle of Wight in the South, and is part of the Canadian company Brookfield Asset Management Inc. $600 billion portfolio, which extends to over 30 countries across the globe.
