Kernel presented first results of its ‘Corporate climate governance and low-carbon pathway’ project, which the company has been implementing in partnership with EBRD and EY, during the 27th Conference of Parties to the UN Framework Convention on Climate Change (COP27) taking place on 6-18 November in Sharm El-Sheikh, Egypt.
The presentation was made at the ‘Food security and climate change’ panel, hosted by the EBRD, and outlined key achievements of the project, namely:
1) integration of climate and ESG agenda in the company’s corporate governance system through the establishment of the Sustainability committee at the Board of Directors, and introduction of first climate related KPIs, which are currently aimed at the development of a comprehensive GHG emission accounting system across the value chain;
2) results of scenario-based analysis of climate physical and transitional risks, as well as identified priority business opportunities associated with low-carbon development;
3) results of expanded GHG emissions accounting, namely Kernel’s Scope 3 emissions.
These findings are reflected in Kernel’s first TCFD disclosure, which is integrated in the company’s FY2022 Annual Report.
“There are many similarities between military actions and climate change. As in the case of rocket shelling, extreme weather events, resulted from climate change, can cause major disruptions to normal business operations. Likewise, one has limited control over impacts of climate change once they happen. The only difference is that we have known about climate change for a long time now, and there are concrete actions we can take to mitigate and to adapt to its impacts. And that is what Kernel seeks to do,” said Marta Trofimova, Sustainability manager at Kernel, during the panel.
