ECOM's participation to the CTA Association & EY Sustainability Breakfast 2024

In early May, the 2nd Annual CTA Association & EY Sustainability Breakfast 2024 was a success enriched with practical insights from the expert panel and participants. ECOMs Ana Nicod, Head of Climate Change Strategy, was a panelist at the event. 

Key poll results:

Participant perspectives on their companies sustainability journey varied:

• - 29% are at an early stage
• - 43% believe they are halfway through
• - 18% consider their companies as experts

Carbon is increasingly being viewed as a new commodity for businesses (75% of the audience). This shift brings also traceability, price discovery, and liquidity challenges.

Key figures presented:

🌡️ According to World Meteorological Organization global temperatures continue run of record highs in February. Average temperature for February was 1.77C higher than the 1850-1900 February average.

🌡️ Global annual emissions accounts ~53 Billion t СО2 which need to be removed annually from the atmosphere to reverse the climate change.

🌡️ The gap between the cost of carbon removal using carbon capture and storage technology (CC&S) is about 8-10x times vs the price established at the European ETS compliance market.

🌡️ International Energy Agency forecasts that by 2028 renewable sources will power 42% of the globe, including wind and solar up 25%. The transition process is taking places now with the current ratio about 30%.