We are at a crucial moment in terms of addressing climate change. The risk of global warming and the threat of environmental destruction is real, as the planet faces alarming outbreaks of extreme weather events.
The truth is that even if we stopped all activities that emit carbon dioxide (CO2) today, it would take many hundreds of years for its concentration in the atmosphere to decrease naturally because of its long time presence in the atmosphere. If we really want to stop climate change, then it is necessary to limit the emissions we produce, reduce the emissions already in the atmosphere and accelerate the transition to a low-carbon future. Companies must take more actions beyond emissions reductions in order to restore the climate.
WWF's Beyond Net-Zero guidance report sets out the actions companies can take to make a real difference in tackling the climate crisis. In addition to an informative list of actions, the guidance includes metrics, practical advice and best practices to help companies move towards climate neutrality and zero carbon emissions.
The 7 actions that a successful strategy should include
The seven actions expected of a leader Organization for climate are:
Maintain and disclose consistently and transparently, in accordance with best available practices and in line with all commitments.
Set climate targets that are aligned with the SBTi (Science Based Targets initiative) net zero emissions criteria to limit temperature increase by 1.5°C.
Reduce supply chain emissions (scope 3) in line with the 1.5°C target.
Fund and support climate and environmental solutions throughout the supply chain and beyond.
Participate responsibly and actively in the implementation of climate policy in the context of the 1.5°C reduction target and ensure alignment of internal and external corporate policies.
Engage with supply chain partners, colleagues, employees and other key stakeholders.
To provide customers with the opportunity and experience through sustainable products and services, education and awareness campaigns, and transparent and accessible information.
Each day we hear new announcements and commitments from companies in their efforts to become more sustainable. Not all of them are credible or consistent with the right approach and view of climate change. With Beyond Net-Zero, WWF is creating a best practice approach to ensure that action is consistent with science and supports the social changes needed to achieve a climate-neutral future.
What is the next step?
To ensure best practice, these issues will need continuous development so that companies can move from the ambitious stage of their emission reduction strategies to concrete and credible action plans in line with the latest scientific developments. At E-ON INTEGRATION, our goal is to accurately quantify all issues, such as risks, opportunities and metrics, arising from the energy and climate crisis issues.
Risks include, physical risks, i.e. the potential impacts on the infrastructure and services of the stakeholder, and transition risks, i.e. the indirect impacts of the climate crisis from changes in the social, political and regulatory environment. Our work includes an assessment of the economic impact of these risks/opportunities as well as a clear description of the resilience of the business model and strategy of the stakeholder in the future, based on climate scenarios. Our entire methodology is fully based on an IT tool, which amongst other things uses data from external databases, the “Climate Change Risk Assessment”.
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