The Environmental Investment Organisation (EIO) is a UK-based not-for-profit body dedicated to researching, proposing and implementing solutions to climate change. It has developed the Environmental Tracking (ET) concept, rebranded by ET Index Research in 2016 to Engaged Tracking, into two separate components known as the ET Carbon Rankings and the ET Index Series. The ET Carbon Rankings rate companies based on their greenhouse gas emissions intensity and transparency. The ET Low Carbon & Fossil Free Index Series, which are based on the rankings, provide investors with a tool to incentivise companies to lower emissions while reducing their exposure to potential future carbon 'price shocks'.

Origins

The EIO was set up as in 1996[1] by London School of Economics alumnus, Michael Gill, as a parallel body to the LSE Environmental Initiatives Network (EIN).[2][3] Michael Gill co-founded the LSE EIN with Janos Abel and was the EIN's first elected chairman [4] stepping down in 2003 to become the vice-chairman.,[5][6]

Publications

The EIO has commissioned several publications: Environmental Tracking - Can Investment Revolution Prevent Ecological Catastrophe (1997);,[7] A Solution to Global Warming... (2009).[8] and more recently Environmental Tracking 3.0 (2011).[9] The original book proposed the concept of Environmental Tracking, which envisaged using the power of the stock market, primarily through index funds, as a means to incentivise companies to reduce their emissions. In the book Gill proposed the creation of an Environmental Scoring Panel (ESP),[10] which would evaluate companies based on a range of environmental criteria. This environmental scoring would then be used to weight companies within an index. With the emergence of climate change as the overriding concern of the 21st century, however, the concept was refined to focus specifically on corporate greenhouse gas emissions.[9] This was also facilitated by improved rates of corporate emissions disclosure as witnessed by response rates to the Carbon Disclosure Project's annual questionnaires to the world's largest companies, which asks them to provide data on their emissions.[11]

The EIO produced reports to accompany the publication of the ET Carbon Rankings highlighting the inconsistent nature of emissions reporting.[12][13]

EIO creates first public ET Carbon Rankings

The EIO launched its pilot rankings in 2010.[14] These included the ET Europe 300, North America 300, Asia-Pacific 300, BRIC 100, ET Global 1000, and ET Global 800. The pilot rankings were based on absolute emissions across Scope 1, 2 and 3 emissions.[15] The EIO methodology at the time only accepted Scope 3 emissions which were verified to a 'reasonable level of assurance' by an independent third party.[16] Since then, the methodology has been changed to rank companies according to emissions intensity. From 2011 the methodology was changed to include Scope 3 emissions following the publication of the GHG Protocol Corporate Value Chain (Scope 3) Accounting and Reporting Standard.[17]

Formation of ET Index Research

In February 2014 the company ET Index Research was established by EIO staff Sam Gill and Sebastian Hoeg, along with Jonathan Harris to commercialise the ET Index Series with the support of the Climate KIC,[18] the European Union's main climate change innovation initiative.[19]

ET Index Research hosts ET Carbon Rankings

From 2015 ET Index Research began hosting the ET Carbon Rankings and ET Index Series and took on the role of commercialising the ET Index Series.

Footnotes

  1. ↑ "EIO - Environmental Investment Organisation". Archived from the original on 27 April 2011. Retrieved 7 December 2010.
  2. ↑ "Peoples Earth Decade". Archived from the original on 24 July 2011. Retrieved 11 March 2010.
  3. ↑ "Peak oil crisis". Archived from the original on 22 July 2011. Retrieved 23 April 2011.
  4. ↑ "House of Commons - Environmental Audit - Appendices to the Minutes of Evidence". publications.parliament.uk.
  5. ↑ "Daily headlines (11-13/10/08) - Daily Headlines - Services for staff - Information for staff - News - Staff and students - Home". Archived from the original on 5 October 2012. Retrieved 22 April 2011.
  6. ↑ "Aspects of the Greenhouse Problem" (PDF). Environmental Initiatives. LSE Environmental Initiatives Network.
  7. ↑ "Amazon.co.uk : Environmental Tracking, Can Investment Revolution Prevent Ecological Catastrophe". www.amazon.co.uk.
  8. ↑ Gill, Michael; Gill, Sam. A Solution to Global Warming. . . ASIN 1445261243.
  9. 1 2 Gill, Sam. Environmental Tracking 3.0. ASIN 1470926490.
  10. ↑ Michael Gill, Environmental Tracking - Can Investment Revolution Prevent Ecological Catastrophe, Pen Press 1997.
  11. ↑ "Carbon Disclosure Project: Home". Archived from the original on 16 September 2009. Retrieved 1 February 2010.
  12. ↑ Chestney, Nina (16 February 2011). "Firms' emissions reporting inconsistent - report". Reuters – via uk.reuters.com.
  13. ↑ "EIO - Environmental Investment Organisation". www.eio.org.uk. Archived from the original on 23 July 2013.
  14. ↑ "Carbon index cranks up pressure on blue chips". www.businessgreen.com. 23 February 2010.
  15. ↑ "Greenhouse Gas Protocol |". ghgprotocol.org.
  16. ↑ "EIO - Environmental Investment Organisation". www.eio.org.uk. Archived from the original on 29 April 2011.
  17. ↑ "Product and Supply Chain | Greenhouse Gas Protocol Initiative". Archived from the original on 12 April 2011. Retrieved 22 April 2011.
  18. ↑ "ET Index Ltd". Climate-KIC.
  19. ↑ "Climate-KIC | The EU's main climate innovation initiative". Climate-KIC.

See also

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