Training on Transition to Low-carbon Economy
The next 10 years are crucial for organisations. Those that will successfully prepare for the challenges climate change carries will thrive, while those that either don’t take the challenges seriously or delay taking the necessary steps will cease to exist.
For example, the EU goal is to halve emissions by 2030, which will largely impact the energy sector (as the biggest emitter) and as a result it will need to scale up on renewable sources, implement carbon capture and storage mechanisms or run on alternative fuels.
However, this is not the only challenge this sector is facing in the upcoming decade. Scarcity of water for cooling with rising ambient temperatures can lead to temporary shutdowns of power stations. Power lines could be damaged due to extreme weather events. Investments will be needed into increasing efficiency as well as new technologies. These are just a few of the challenges of the energy sector. Every industry sector and organization have their own set of challenges, but also opportunities to tackle them. That’s why PwC introduces its newest training meant to help you transform into climate-resilient organisation while covering the following subjects:
Introduction to Climate Change and Climate Science
Climate Risks & Opportunities
Transition to low-carbon economy
- Climate Reporting & TCFD recommendations
First, you will learn about the different risks climate change poses on organisations and humanity as a whole. There are two primary types, physical and transition risks, with litigation risks, which are consequences of the first two. Next, we discuss what the transition to low-carbon economy encompasses and why it is the inevitable step that we need to undertake if we want to avoid irreversible effects of climate change. At the same time, you will see how some of these risks create new opportunities to innovate and offer new products and services, which are in line with the net-zero goal of 2050.
During the training we focus on 6 quintessential areas of climate adaptation and mitigation, which need our most immediate focus and action if we want to avoid reaching the “Point of no return”; water, agriculture, energy, transportation, industry and air. Additionally, we cover some of the current and upcoming climate policies and the need for increased transparency towards stakeholders via climate reporting. You will deep dive into the TCFD recommendations, which will not only assist you in your climate reporting, but also guide your organisation in implementing the necessary processes to identify and manage climate risks and opportunities within your governance, strategy and risk management.
By the end of the training, you will be able to:
Understand the diverse impacts of climate change on entities and humanity
Identify climate risks and opportunities
Implement the necessary processes within your organization to decide how to best manage climate risks and opportunities
Effectively report on climate risks and opportunities using TCFD framework
The 4 Pillars of the TCFD Recommendations
- Governance: The organisation's governance around climate-related risks and opportunities;
- Strategy: The actual and potential impacts of climate-related risks and opportunities on the organisation's business, strategy and financial planning;
- Risk management: The processess used by the organisation to identity, assess and manage climate-related risks;
- Metrics and targets: The metrics and targets used to assess and manage related climate-related risks and opportunities;
Contact us
Frédéric Vonner
Advisory Partner, Sustainable Finance & Sustainability Leader, PwC Luxembourg
Tel: +352 49 48 48 4173
Julien Melotte
Audit Partner, Industry & Public Sector, Sustainability, PwC Luxembourg
Tel: +352 49 48 48 5287