Today’s guest on Sustainable: The Podcast is Gbenga Ibikunle, Deputy Director of the Sustainable Business Initiative at University of Edinburgh and Deputy Scientific Director of the Fondazione European Capital Markets Co-operative Research Centre.
Gbenga starts the show by explaining what the European Union Emissions Trading Scheme (EU-ETS) and how this has been created to limit the amount of emissions or pollutions produced by companies before giving us an example of how this works.
Each company is given a set amount of emission credits which restricts the amount of CO2 produced. They are able to trade these credits with other companies in the scheme.
There are specific sectors that are under these regulations such as energy, mineral, oil refineries, metal, glass and ceramics industries and these companies are automatically enrolled within the scheme.
50% of the emissions being produced in the European Union come from these sectors and are therefore regulated.
While it’s currently unclear whether small and medium sized enterprises will end up under this legislation, Gbenga advises that all sectors regardless of industry need to monitor their carbon emissions and offers suggestions on how to do this.
Gbenga also notes that before he started his PhD he hadn’t really thought much about the impact of climate change on business and the economy and shares how this research has impacted his daily life as well his advice for companies and organisations looking to become more sustainable.
Gbenga most admires:
It will help to plan for the future.Gbenga Ibikunle