ASHRAE addresses climate change solutions at COP26
ATLANTA, Georgia, 11 November 2021: ASHRAE addressed climate change solutions at the United Nations’ Climate Change Conference of the Parties (COP26) in Glasgow, Scotland, held from October 31 to November 12.
ASHRAE said it formally participated as a Non-Governmental Organization (NGO) and an official COP observer. The United Nations granted permission for select organizations to participate in COP26 activities.
More than 60 of the largest and most influential international architecture, landscape architecture, engineering, planning and construction firms, along with two dozen organizations representing over one million building industry professionals worldwide, issued a Communiqué to government leaders headed to COP26 challenging them to step up their emissions reduction targets for the built-environment. The firms and organizations are signatories of the 1.5°C COP26 Communiqué — an open letter to sovereign governments demonstrating the firms’ and organizations’ commitment to meet the Paris Agreement’s 1.5°C carbon budget and demanding governments do the same.
ASHRAE said its focus at COP26 was to emphasize the importance of the building community’s participation in addressing the climate crisis. Architecture 2030 and ASHRAE hosted a COP26 Official Side Event on November 10, featuring the 1.5°C COP26 Communiqué and its signatories. The event, titled ‘65% by 2030 / ZERO by 2040: Top 200 Global Firms and Organizations Lead With 1.5°C Climate Actions’, highlighted ways in which the signatories are responding to the urgency of the climate crisis and specific actions to decarbonize the built world and meet the Paris Agreement’s 1.5°C carbon budget.
At the side event, 2021-22 ASHRAE Treasurer, Ginger Scoggins, highlighted the world’s growing building stock and the role of built-environment organizations, such as ASHRAE, in assisting both policymakers and industry leaders in better understanding their impact on our climate change solutions.
“ASHRAE signed onto the 1.5°C COP26 Communiqué, and we are here today because engineers and scientists involved with HVACR and building systems have been, and will continue to be, advancing solutions to address climate change,” Scoggins said. “We are here, because we recognize that the built-environment is a key source contributing to the world’s greenhouse gas emissions and with the building stock continuing to expand and doubling by 2050, solutions from the buildings community is ever more critical.”
Additionally, Scoggins spoke about the credibility of ASHRAE’s technical resources and global standing in the development of consensus-based standards. “ASHRAE’s flagship Energy Conservation Standard 90.1 is the benchmark for commercial building energy codes in the United States and has been a key basis for codes and standards around the world for more than 45 years, reducing energy consumption by 50%, yet only 38 countries have specifically named building standards and codes in their Nationally Determined Contributions,” Scoggins said. “Many of the countries where the building stock is expected to grow do not require energy standards for buildings. ASHRAE signed the buildings industry’s communique, and we are ready to help policy makers and the buildings industry around the world transform our building stock into one that is sustainable, resilient, and healthy. We are here to be part of the solution and we are up to the challenge.”
In a separate statement, 2021-21 ASHRAE President Mick Schwedler, commented on ASHRAE’s participation at COP26 and shared additional ways that the Society is addressing climate change. “ASHRAE’s climate action efforts exemplify the Society’s core dedication to engineering excellence in environmental stewardship,” Schwedler said. “The ASHRAE Global Headquarters building renovation project demonstrates that existing buildings can be transformed into net-zero-energy structures cost-effectively, using current, off-the shelf technologies. Our Advanced Energy Design Guides, developed with our partners, provide zero energy K-12 schools and office buildings guides to equip designers in achieving zero energy and significantly reducing carbon. ASHRAE is proud to work with other world leaders to not only raise awareness of the issues surrounding climate change, but collectively seek to redefine the built environment for the times and continually explore what is possible through industry leading innovation.”
Johnson Controls issues USD 500 mn sustainability-linked bond
CORK, Ireland, 16 September 2021: Johnson Controls (JCI) said it has issued its first Sustainability-Linked Bond offering of USD 500 million in 10-year senior notes. The offering of the bond, the company said through a Press release, is in conformity with the company’s recently published integrated green, social and sustainability-linked finance framework. The publication of the framework and issuance of a bond mark two new sustainability milestones for Johnson Controls, which has become the first S&P500 industrial company to complete both accomplishments, it said.
Earlier, in January 2021, Johnson Controls adopted a new set of ambitious environmental goals, which it said, were approved by the Science Based Targets Initiative. The company said it has committed to cut operational emissions by 55% and reduce customers’ emissions by 16% before 2030. Based on the commitments, the company said, it issued the bond, which ties the interest rate on the bond to the achievement of the environmental goals. This means that Johnson Controls will pay a higher interest rate to bond investors if it fails to meet its interim targets for reducing Scope 1 + 2 and Scope 3 carbon emissions by September 16, 2025.
“Experts say that an additional USD 1-2 trillion/year must be invested in sustainability and cutting greenhouse gases if we are going to have any chance of meeting the steep carbon reductions science tells us is urgently required,” said George Oliver, Chairman and CEO, Johnson Controls. “Governments alone will not be able to mobilize this sum of money, so private sector capital needs to get sustainable, and fast. Building the market for sustainable finance is, therefore, an imperative; and ensuring that the highest standards are met so that dollars flow to projects that truly accelerate decarbonization, is also critical. With our continued commitment to sustainable finance and aggressive sustainability targets, we are showing our leadership in the field.”