CDP and Breakthrough Energy have combined their expertise to develop a new Framework that will help quantify the climate value of investments that develop technologies critical to a net-zero future.
Innovation is central to long term decarbonization. According to the IEA, "Without a major acceleration in clean energy innovation, reaching net‐zero emissions by 2050 will not be achievable."
Technologies that are available on the market today provide nearly all of the emissions reductions required to 2030. However, in 2050, almost 50% of required CO2 emissions reductions come from widespread use of technologies that are still under development today. (IEA, 2021)
It is vital that society accelerates development of emerging climate technologies to ensure they are available in the mid-to-long term for mass deployment.
The ECT Framework will enable companies to assess their climate impact and receive recognition for investing in activities that will eliminate the sources of emissions over the long term.
It will help quantify how a company’s investments contribute to overall emission reduction needs and help leaders explain to their investors and customers what they’re doing to decarbonize their business model into the future.
The ECT Initiative aims to drive finance into the most promising ECTs (see a range of examples) to drive down their cost and make them viable for the mass market in the mid-to-long term.
The Initiative encourages companies to accelerate the development of critical technologies across their value chain. This will enable them to meet their long term decarbonization goals, effectively respond to evolving regulatory landscape and adapt to changes in their industries.
The ECT Framework can also provide companies with a pathway to align their financing and procurement activities into these technologies with a 1.5C future, helping them demonstrate climate leadership to key stakeholders.
For further information on the ECT Initiative, and how to get involved, please contact [email protected].
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