The emissions threat facing corporate America – TechCrunch

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A warming of 1 degree Celsius will eliminate 1.2% of US GDP. According to Solomon Hasian, A climate scientist and economist at the University of California, Berkeley, and co-director of the research group Climate Impact Lab. If US companies do not act now to stop climate emissions, Hsiang predicts a loss of up to 10.5% of annual GDP. That’s about $ 2.2 trillion a year.

Most organizations do not currently understand the significance of the need to deal with emissions. Companies in various industries and around the world are facing existential threats that can no longer be ignored. Now is the time to tackle the rapidly accelerating impacts of climate change in the corporate sector. The impact of harmful emissions on profits cannot be exaggerated.

Customers choose to buy products from carbon-sensitive companies and investors. Black lock, Baldenton Capital When Allante Capital We are considering sustainability in our investment process. The market is moving beyond good intentions. For an organization to successfully measure and reduce emissions, it is essential to have plans and tools to undertake all the components of the enterprise ecosystem.

How do companies get started?

The first and most important step is to admit that you are having a problem and are releasing more than you think. Check the carbon dioxide emissions. Communicate your desire to learn and improve. Start education at the strategic level first, then distill it throughout the organization and provide it to key stakeholders consistently over the long term.

Without universal standards, the C Suite needs to be knowledgeable and quantifiable about sustainability risks that threaten the business. We also need practices that are in place to improve them.

Organize a dedicated team and invite third-party consultants or software vendors to assess your company’s emissions and make recommendations. Sustainability teams usually drive the effort. Include CFO and CTO for data collection and cost and revenue impact assessment. For compliance purposes, make sure that general counsel is also included in the conversation. Representatives of operations, community relations, HR, and communications are required to participate.

Next, perform an assessment that provides a detailed analysis of the company’s carbon emissions and overall sustainability practices. The assessment should include factors that generate direct and indirect emissions, such as vehicle fleets and purchased energy such as electricity and heating and cooling.

A series of regular meetings are held between executives, sustainability teams, and consultants to discuss evaluation results, actions to be taken, and implementation timelines. This helps missionaries participate in the effort, from top-down to bottom-up.

After an organized effort, companies also need to consider how to overcome the four barriers to generate carbon emissions. Start a dialogue with the value chain — this is where enterprise-grade SaaS emission platforms come into play.

Scope 3 emissions It arises from assets that are not owned or controlled by the organization but affect its value chain and most often represent the largest part of a company’s footprint. If you have not measured and reduced scope 3 emissions, then even if you reduce or eliminate scopes 1 and 2, your carbon reduction plan is unreliable. The closer you are to the stakeholders, the closer you are to emissions. You reduce such emissions.

How are the approaches different?

Whether it’s a small start-up or a large company, the approach to reduction is the same. Start with the measurement.Configuration Science-based reduction targets Monitor your footprint consistently. Leverage FinTech-inspired tools to reach goals, set fine-grained goals, and have a positive impact on the climate. Map your business by department, brand, business unit, or region, including your company’s value chain and suppliers.

Data plays an important role in setting a corporate baseline. Without detailed and accurate information, you cannot determine if the action you are performing or will work in the future. In addition to an accurate baseline, it is essential to have an accurate approval workflow to prevent “garbage-in, garbage-out” data. There must be a large number of traceable and practical data points inside and outside the value chain.

Then assign an action and set a deadline to reach your goal. Before moving to automation, make sure your numbers are accurate and start your mitigation journey with sustainability management software and carbon consultants.

When it comes to reductions, identify where the maximum emissions come from and choose your first battle. generally, These emissions It stems from company transportation — burning fossil fuels for our cars and buses to and from our offices, and spraying them into other parts of the world for business meetings. It may look small at the time, but it sums up what really matters.

Investigate all components of your internal operations and supply chain and select sustainable partners. If your company continues to do strategic business with the most important Brazilian soybean importers, you can’t blame the accounting department for not using recycled paper.

It evolves continuously and assesses climate progress weekly or daily. When you stumble, think, repeat, and try again. Responsible for the company’s emission reduction goals and remain open and transparent to regulators, employees, customers and investors.

What if the company doesn’t follow through?

Enterprises need to start implementing long-term changes to meet the final green policy. Energy and fossil fuel costs have steadily skyrocketed in recent years, although there may be incentives for businesses to benefit.

This, coupled with the desire to leave the planet in a better place, should be a good reason to take action. Your company’s low-carbon efforts will ultimately pay off, no matter how long you wait for the grant.

Millennials and Generation Z evaluate corporate sustainability practices as part of their decision to accept jobs. Companies of all sizes, driven by climate change goals and initiatives and sharing them transparently and publicly, are more likely to attract fresh and intelligent workers who share the same personal philosophy.

Employees working in an organization focused on net-zero emissions will be the company’s largest ambassador, advocating internal and external conversations, attracting new employees, and maintaining long-term work experience. Is also useful. Companies in industries such as oil and gas are struggling to adapt and attract talent.

Which organization shows early success?

Companies that are transparent and dedicated to travel are recognized as winners. They have acknowledged the impact on carbon and have invested resources to address emissions. Microsoft, HP, Orange, Beyond Meat, and Bpifrance have met their climate change goals. When transparency is at the forefront, organizations can not only emphasize areas of improvement, but also publicly celebrate their success.

Existing groups such as Amazon Climate Pledge, UNFCCC Climate Neutrality, When Climate Group EP100 Allows companies to promise climate change measures, among other things, within the industry. These established groups allow executive teams to connect with other leaders who share the same climate philosophy as you. Even better, companies can form their own climate coalitions to explore emission measurement solutions and tools with like-minded leaders. Share progress, including trial and error, on a regular and transparent basis.

After COP26, the company A big role to play In our journey to tackle climate change. From funding the green transition to supporting other businesses in mitigation efforts, companies will have a significant impact on bringing us closer to our 1.5 ° C target.And who knows, they may be responsible Tilt the carbon balance..

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