Carbon Tracker and 2° Investing Initiative ink new research collaboration

Collaboration between the two influential think tanks will see Carbon Tracker’s industry-leading utilities and oil and gas insights accessible to more markets through 2DII’s PACTA tool.

Sustainable finance think tanks Carbon Tracker and 2° Investing Initiative (2DII) have agreed to work together to develop a new climate scenario analysis solution for companies and financial institutions.

The research collaboration will combine Carbon Tracker’s power and fossil fuel industry assessment expertise with 2DII’s Paris Agreement Capital Transition Assessment (PACTA) tool, a free-to-use software platform that allows users to analyse specific companies and measure the alignment of financial portfolios with climate goals.

The organisations said they would now pool their research capabilities to develop a single analytical solution with multiple methodologies that would allow users to customise company analysis based on their needs. The combined approach would make Carbon Tracker’s industry-leading methodology for the upstream oil and gas and utilities sectors available on the PACTA tool, they said.

The open source software, which is backed by the UN’s Principles for Responsible Investment, is underpinned by a vast climate-related financial database that covers hundreds of thousands of securities, companies, and energy-related physical assets.

Stan Dupré, chief executive of 2DII, said the collaboration would provide financial institutions with the “best tools available to develop impact-oriented strategies that contribute to real world greenhouse gas emissions reductions”.

“PACTA is a critical part of 2DII’s efforts to provide the financial sector with the data, tools and knowledge they need to help align financial flows with the Paris Agreement,” he added. “By combining forces with Carbon Tracker, we are reducing the transaction cost of accessing cutting-edge research by bringing together leading research methodologies in one place and harmonising our approaches.”

PACTA has been applied by more than 1,200 organisations with more than $61tr of assets under management, as well as supervisors and central banks such as the European Insurance and Occupational Pensions Authority and California Department of Insurance.

Mark Campanale, founder and executive chair of Carbon Tracker, toasted the new partnership, which he said could play a role in pushing more companies to align themselves with global climate goals. “Collaborating with 2DII on the use of PACTA will make our insights more accessible to the markets,” he said. “This isn’t just about providing analysts with better data. At its core is our goal of ensuring that fossil fuel producers align their business plans with the objectives of the Paris climate agreement of ‘well below 2 degrees’ and that investors can, with this data, play a key role in moving companies in this direction.”

The two think tanks confirmed they would set up a coordination committee for the collaboration that will count research and management staff.

Original Source: businessgreen.com

The COVID-19 pandemic will lead to an eight percent decline in information technology spends in India in 2020 to $83.5 billion, a research house said on Wednesday.

This will be the first time in five years that the yearly spends will slip into the negative territory, analysts at Gartner said.

In an estimate released in November 2019, the research house had estimated a 6.6 percent growth in IT spends to $94 billion in 2020.

In partnership with their chief financial officers (CFOs), chief information officers (CIOs) in India are reprioritising their IT budgets on mission critical initiatives, Naveen Mishra, Senior Research Director at Gartner said.Booming IT sector of IndiaAlso ReadPM Modi to share his vision on 'Getting Growth Back' with India Inc on Tuesday

He added that fear of a global economic recession due to the COVID-19 pandemic is forcing CIOs in India to be very cautious on their IT spending.

The Indian CIOs will consider extending life cycles of their existing device assets which will delay new purchases, Gartner said, adding spending on devices and data centre systems will contract the sharpest.

Data centre systems spends will contract by 13.2 percent in 2020 over the year-ago period to $3.186 billion, while devices spend will fall by 15.1 percent to $31.07 billion, it said.

Communication services at $28.227 billion will be down by 1.8 percent, and enterprise software at $6.125 billion will be down by 2.6 percent, making the two segments the least impacted, it said.

Government restrictions like social distancing will result in more spends on business continuity, remote working and workforce collaboration, the research house said.

This will result in a shift in spending toward technologies such as desktop as a service (DaaS), infrastructure as a service (IaaS), virtual private network (VPN) and security, it said, adding that the overall cloud adoption in India has increased.

The lockdown measures forced sectors such as education, healthcare, and public utilities to accelerate their digital transformation, Mishra said.

However, for other sectors like retail, insurance and banking, which were already advanced in their digital transformation, have to reduce their IT spending in 2020.

These sectors will continue to spend on targeted digital initiatives such as artificial intelligence, machine learning and virtual sales assistants. However, they will have to reduce or stop spending on business transformation, process re-engineering and modernisation of existing systems, Mishra said.

(Edited by Saheli Sen Gupta)

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Original Source: yourstory.com

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