An exploration of climate alignment in freight related investment decisions

Meeting the Paris Agreement temperature goals requires large redirection of capital flows from carbon intensive to low carbon technologies. For the transport sector alone, the IEA (2017) finds that full decarbonization requires cumulative $13 trillion additional investments between 2015 and 2050 and for shipping’s full decarbonisation the investment required is estimated to be$1.2-1.6 trillion. Financial institutions are therefore key actors in enabling the transition to a low-carbon economy and the numerous collaborative initiatives and commitments such as the Net-Zero Asset Owner Alliance or the Poseidon Principles have emerged highlighting the willingness of financial actors to support this transition. Ensuring that investments are climate-aligned, i.e. that they are consistent with a downward trajectory to a decarbonization target, requires the development and wide adoption of rigorous climate-alignment methodologies and tools. However, there is no agreed decarbonization pathway and methodology in the freight transportation that allows investors to evaluate climate risk of their portfolios in a rigorous and comparable manner. These are particularly relevant for the freight transportation sector as assets long lifespans often exceed 20 years and current investments therefore create a carbon lock-in for the next crucial decades. Focusing on three types of freight transportation – road, rail and shipping, the objective of this paper is to provide novel insights in three key areas. First, it intends to give an overview of the existing climate alignment tools and identify the ones used by financiers of the freight transportation assets to screen their investments. Second, it seeks to understand the barriers to the adoption these tools, and the challenges to making portfolios climate aligned. Finally, it will provide recommendations on a way forward for climate alignment on freight transport. This research uses a mixed methods approach to validate findings, combining a literature review, semi-structured interviews with financial institutions and a deliberative workshop

Exploring methods for understanding stranded value: case study on LNG-capable ships

To address these high-level questions, this paper undertakes a case study on the risks associated with a particular candidate technology/fuel for shipping: LNG (Liquefied Natural Gas). LNG’s application as a marine fuel is a relevant candidate for use in a case study because it is associated with new investment today, which is widely recognised to be incompatible with the long-run movement away from use of fossil fuels. However, it has been portrayed as a transition fuel on the pathway for shipping’s decarbonisation. In recent years, increasing numbers of ships have been built to be LNG-capable (e.g. with dual fuel LNG/LSHFO machinery and storage and supply equipment for LNG), and many more are on order. However, there is growing scientific evidence that shows the climate benefits are limited, if not negative, compared to LSHFO (Low Sulphur Heavy Fuel Oil), when considering a full lifecycle analysis of emissions and accounting for all greenhouse gases (GHG) emissions. Furthermore, there is growing evidence that the least-cost pathway for shipping to meet its required shift away from fossil fuels is to reach a mix of electrification, and use of hydrogen and hydrogen-derived fuels (ammonia, methanol). Under an assumption that liquid bio and synthetic methane with equivalent GHG reductions to ammonia/methanol will be less competitive than ammonia, this creates a risk that the more capital-intensive LNG-capable1 assets will have a more limited economic life and/or higher risk of stranded value than less capital intensive conventionally fuelled (HFO/LSHFO) assets

Salivary cholesterol level does not reflect cholesterolemia in children with heterozygous familial hypercholesterolemia

International audienceObjectivesHeterozygous familial hypercholesterolemia is a common genetic disease responsible for premature atherosclerosis. Therefore, early diagnosis and treatment are recommended to reduce cardiovascular risk. Usually, the screening is based on high plasma LDL-cholesterol. In children, blood testing is often an obstacle for screening. This study aims to evaluate the relevance of a salivary non-invasive LDL dosage in heterozygous familial hypercholesterolemia in a pediatric population.Materials and methodsProspective, case control, monocentric study comparaing the salivary cholesterol of 30 heterozygous familial hypercholesterolemia pediatric patients and 30 healthy age-matched controls with two different enzymatic kits (Amplite™ kit - AAT Bioquest® and Total Cholesterol Assay kit - CELL BIOLABS®, Inc).ResultsWhile the median serum total-cholesterol was significantly different in control and heterozygous familial hypercholesterolemia patients as expected, the median salivary cholesterol concentration was similar between the two groups and 1000 times lower than in serum. No correlation was found between salivary and serum cholesterol concentrations.ConclusionAlthough cholesterol is detectable in saliva, our study suggests that the low salivary cholesterol concentrations result mostly from variable gingival bleeding, precluding any reliable use for Heterozygous Familial Hypercholesterolemia screening in children.But/ObjectifL’hypercholestérolémie familiale est une maladie génétique fréquente responsable de lésion d’athérosclérose précoce. Ainsi, le diagnostic et le traitement précoce sont recommandés pour réduire le risque cardiovasculaire. Le dépistage actuellement recommandé est réalisé par le dosage sanguin de LDL-cholestérol. Chez l’enfant, le caractère invasif des prises de sang peut être un obstacle à la réalisation du dépistage. Cette étude a pour but d’évaluer la pertinence du dosage salivaire non invasif du LDL-cholestérol chez les enfants atteints d’hypercholestérolémie familiale.Matériels et méthodesÉtude prospective, cas-contrôle, monocentrique comparant le cholestérol salivaire chez 30 enfant témoins et chez 30 enfants hypercholestérolémiques apparié en age dosé par deux kits enzymatiques (Amplite™ kit - AAT Bioquest® et Total Cholesterol Assay kit - CELL BIOLABS®, Inc)RésultatsLe cholestérol total sérique médian est significativement différent entre les deux groupes comme attendu, néanmoins les taux médians de cholestérol salivaire sont similaires entre les deux groupes et 1000 fois inférieures au sérum. Aucune corrélation n’a été retrouvée entre la salive et le cholestérol total sérique.ConclusionLe cholestérol total est bien détectable dans la salive, notre étude suggère que le faible taux de cholestérol dans la salive résulte en majeur parti d’une contamination par micro-saignement gingival, ne permettant pas de l’envisager comme un outil fiable non invasif pour le dépistage de l’hypercholestérolémie familiale chez l’enfant