How might we finance activities to reduce greenhouse gas (GHG) emissions? How might we reduce emissions from ANU purchasing and investments?
Financing emissions reductions
Many emissions reductions activities will deliver long-term cost savings to ANU, for example by reducing energy costs. Nevertheless, many will require start-up capital at a time when COVID-19 has placed significant constraints on ANU budgets. However, there are a range of alternative sources of finance that can help ANU reduce operating costs and emissions at the same time. These could include mechanisms such as climate bonds, solar leasing, energy efficiency loans or community solar investment.
In order to account for all the greenhouse gas (GHG) emissions generated by our activities, ANU would need to calculate and offset emissions from the manufacture of all goods and services that we are responsible for via our value chain (i.e. what we purchase). These indirect greenhouse gas emissions (called scope 3 emissions) are outside our direct control. To date we haven't collected data on these emissions.
Approaches could include calculating and reporting emissions from purchased goods and services, establishing procurement guidelines to select products and services with lower carbon intensity and demonstrating leadership by engaging with key suppliers to ensure that they are taking action to reduce their emissions.
ANU seeks to grow and protect its financial assets to provide a stable financial environment and operate effectively. The University has a Socially Responsible Investment (SRI) policy in place to govern these investments. This policy has contributed to reductions in emissions intensity for the ANU equity investment portfolio in comparison with benchmark portfolios. In February 2020, the ANU Council resolved that ANU will be "further reducing the emissions intensity of its investment portfolio".
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