Asked about the EIO and how it operates, 20 year old Katherine Belben, the NGO’sCommunications Coordinator, explained, "The EIO is the product of the current environmental and political climate. On the one hand we face impending environmental catastrophe which requires immediate action; and on the other we have world governments who appear incapable of reaching unified consensus to address the problem. The EIO has galvanised the support of a generation of people who, as well as wanting to glean knowledge and experience in an area set to become the growth engine of the 21st century, are simply not going to stand back and watch as that happens.”
“The required emissions reductions and investment in low carbon technologies can be achieved by creating a system which influences share price according to the environmental costs of a company’s actions. This is precisely what Environmental Tracking seeks to do,” added Sam Gill, Operations Director, Environmental Investment Organisation.
The Environmental Investment Organisation (EIO), a UK based NGO supported by a global research network, aims to persuade more companies to reduce Greenhouse Gas (GHG) emissions and report to higher standards with the launch of four new regional Carbon Rankings this week.
The series of Environmental Tracking (ET) Global Carbon Rankings, featuring over 1,200 of the world’s largest companies, is part of a broader strategy to create a global market mechanism designed to tackle climate change.
By pioneering an open source approach to collaborative working the EIO has made it easy for those eager to be part of the climate solution to contribute, hold the world’s biggest companies to account, and, implement a powerful mechanism.
Kicking off with the release of the ET North America 300 today at 11am (GMT+1) Monday 24.10.11, the EIO will be releasing a regional Ranking each day this week. The ET Asia Pacific 300, ET BRICS 300 and an updated ET Europe 300 will follow on Tuesday, Wednesday and Thursday. Each of these Rankings has been designed to put the spotlight on standards of public GHG emissions reporting across the world.
The Regional Rankings act as a precursor to the eagerly awaited ET Global 800, which looks purely at the largest 800 companies across the world without any geographical bias. This will go live at 11am (GMT) on Tuesday 1.11.11.
With the introduction earlier this month of the long awaited New Scope 3 Standard from theGreenhouse Gas Protocol (released 4.10.11), the EIO has taken a proactive approach to incentivise companies to adopt this important new standard in GHG Reporting. The finalised standard has been the result of a three year global multi-stakeholders process that included more than 2,300 participants and road-tested by 60 companies in 17 countries.
The Environmental Investment Organisation (EIO) is a UK-based non-profit research body working in the field of eco-financial innovation. See eio.org.uk
Environmental Tracking 3.0, the short publication outlining the concept behind the Carbon Rankings is available as a digital download or in hardcopy from Lulu.com
The EIO held an advance briefing on the launch of its Regional and Global Carbon Rankings last Friday 21.10.11 at the Carbon Show, London.
Current live Indexes:
The Environmental Tracking (ET) Carbon Rankings are compiled from publicly available emissions data taken from company sustainability reports, annual reports and websites. The Rankings and the fully transparent methodology behind them can be viewed online at eio.org.uk
The rankings are comprised of four data bands according to the status of a company's data: A) complete, public, verified; B) complete, public but unverified; C) incomplete; and, D) no public data. In cases where there is no data available, companies are benchmarked against the worst performer in the same sector. Once in their respective categories, companies are ranked according to emissions intensity (emissions divided by turnover). Additionally, companies are advantaged according to the number of Scope 3 categories disclosed.
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