Climate Change Mitigation

From Open Risk Manual

Definition

An economic activity shall be considered to contribute substantially to climate change mitigation where that activity substantially contributes to the stabilization of greenhouse gas concentrations in the atmosphere at a level which prevents dangerous anthropogenic interference with the climate system by avoiding or reducing greenhouse gas emissions or enhancing greenhouse gas removals.[1]

Climate change mitigation may be achieved through any of the following means, including through process or product innovation:

  1. generating, storing or using renewable energy or climate-neutral energy (including carbon-neutral energy), including through using innovative technology with a potential for significant future savings or through necessary reinforcement of the grid;
  2. improving energy efficiency;
  3. increasing clean or climate-neutral mobility;
  4. switching to use of renewable materials;
  5. increasing carbon capture and storage use;
  6. phasing out anthropogenic emissions of greenhouse gases, including from fossil fuels;
  7. establishing energy infrastructure required for enabling decarbonisation of energy systems;
  8. producing clean and efficient fuels from renewable or carbon-neutral sources.

References

  1. Technical Expert Group on Sustainable Finance Taxonomy, Technical Report, June 2019

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