COP 27 and the Journey to Net Zero
Does your business have a Net Zero strategy yet? If not, it’s only a matter of time before you have to think seriously about implementing one. The UN has stepped up its efforts to meet global targets and small businesses have a big part to play. Becoming part of the solution not part of the problem improves brand recognition, revenue expectations, and future resilience.
Net Zero Targets
Net Zero - the point at which the levels of carbon dioxide (CO2) emitted across industries and other greenhouse gases (GHG) - is the same as the emissions captured by the planet and various technologies. The UN hopes to limit temperature rise to 1.5 degrees C by 2050.
In 2015, The Paris Agreement was signed by 193 countries that committed to the UN's target, in 2021 the same parties agreed to step up efforts and meet every year instead of every five. Data shows a downward trend, but we are still on track for 2.5 degrees C by the end of the century.
Climate Change Conference
Cop 27 in Sharm el-Sheikh Egypt built on some of the commitments and ideas discussed a year earlier in Glasgow. It is the largest gathering of political leaders, climate activists, and business CEOs in the world, and it’s important for all businesses to take action.
Some of the critical issues covered in the climate conference include reducing greenhouse gas emissions, building resilience in business communities, adapting to the impacts of climate change, and finding finance to fund climate action. It’s clear more action is needed for results.
More Action Needed
Digging into numbers is useful for official figures but it doesn’t help businesses at a grassroots level, how can ordinary businesses implement the right changes and measure them to be sure they are on track? First, they need to commit to creating a progressive Net Zero strategy.
Implementing a Net Zero strategy is not always straightforward, much of the success depends on understanding the nature of the business and what is needed to achieve Net Zero results. To achieve Net Zero status a business must have emissions reductions of 95% and offset the rest.
Research shows that while 50% of UK businesses are aware of the government's Net Zero targets 76% of them have yet to implement a Net Zero strategy. It’s concerning because 50% of UK emissions are generated by small businesses. So what is their motivation to meet Net Zero?
Apart from the obvious planetary consequences of “business as usual” there is also a commercial gain. In a changing marketplace where consumers value ethical products and green supply chains, businesses can improve their reputation, reduce costs, and create resilience.
Net Zero for Teams
Implementing a Net Zero strategy is not as simple as it sounds, it requires transforming the internal workings of the business to align with government standards. Net Zero for Teams is a program that can help your business implement solutions to achieve Net Zero in the short term; this makes your business more sustainable, resilient and helps to improve your bottom line.
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