TPI aims to empower investors to understand and drive the low-carbon transition. But it is not just investors who are able to take advantage of our open-access data and put it to good use. TPI is delighted that today, the Science Museum Group became the first cultural institution to join our membership.
Science is at the forefront of finding solutions to the most pressing challenges facing the world today – from developing a vaccine for Coronavirus to tackling the threats we face from a changing climate. And it is science-based climate data that is at the heart of TPI's robust methodology and the driving force behind the team that compiles our assessments at the Grantham Research Institute on Climate Change and the Environment at the London School of Economics (LSE).
Aligning values to align with Paris
The science of climate change makes it clear that urgent decarbonisation across all sectors is imperative if we are to keep global temperature well below 2°C. The Science Museum Group is committed to playing its part and is in the midst of its journey to reduce carbon emissions from its operations, procurement, and supply chain. And as the museum asks more of itself, it is also asking more of its partners. The group’s new sustainability policy sets out its commitment to working with funders that are also on a journey to decarbonise.
We’re delighted that the Science Museum Group has chosen TPI’s tool as the robust and independent gauge it wishes to use to check that its partners or potential partners are progressing on a path to cut carbon emissions in line with the Paris Agreement.
TPI’s data-led methodology provides clarity for partners that aspire to work with the Science Museum and ensures they share similar values, while also providing transparency for the museum’s guests.
Today, society and public institutions expect corporate partners to behave in an ethical and sustainable way. TPI’s tool reveals which corporations from high emitting sectors are genuinely committed to a progressive transition plan aligned with the Paris Agreement to keep the increase in global average temperature to well below 2°C.
The Science Museum Group encourages corporate partnerships with firms that share its vision for a progressive transition to a low-carbon economy, even if they are currently high emitters. After all, it is not just about where you are now, but where you are going, and companies with a progressive roadmap towards decarbonising are encouraged to reach out and partner with the Science Museum.
For example, one company taking positive steps forward is the Science Museum’s partner Equinor. In TPI’s 2020 assessment
Equinor was one of just seven fossil fuel companies (out of 59) that have set an emissions target in line with the pledges made by national governments as part of the Paris Agreement. In TPI’s assessment of management quality Equinor was awarded the highest ranking of level 4, demonstrating a strategic assessment and integration of climate change into its operational decision making.
The Science Museum Group represents a new type of member and TPI hopes that its trailblazing decision will encourage other cultural institutions to use the TPI Tool also. Cultural institutions are in a unique place to inspire their millions of visitors and we are hopeful more will seize this opportunity to lead public engagement on climate change.