Net-zero will impact your business whether you have a target or not
What is Net Zero?
Net Zero is a commitment to decrease or offset greenhouse gas emissions to zero by a certain year. Most governments around the world have set targets to be net-zero by 2050, if not at a federal level, then at a local or state level.
What does this look like?
For a government Net-zero is a term meaning to get to zero emissions, there is no current standard on what getting to net-zero means. For governments a net-zero target is one that covers all scope 1 emissions in their jurisdiction. For business it usually covers scope 1 and 2 emissions, although some companies also include some scope 3 emissions. The Science Based Targets Initiative is currently working on a standard for companies. More means zero direct greenhouse gas emissions for the territory. Some of the policy measures introduced to help achieve these targets are already adding to business costs through increased environmental charges in electricity bills, and this has impacts across your whole supply chain. Carbon border tariffs are starting in the EU in 2023 and the UK is proposing they be introduced globally.
What can you do?
If your business wants to minimise the increasing impacts that carbon costs will have then you should look at implementing a carbon strategy to manage your risk.
If you haven’t already started, then some simple steps include:
- Calculate your full scope 1, 2 and 3 carbon footprint
- Set a carbon reduction and renewable energy target
- Introduce a shadow price of carbon into all investment decisions.
Why should I act?
There is a significant competitive advantage to be gained in preparing your organisation for the transition to the low carbon economy.
- Future-proofing against increasing carbon price risk
- Driving innovation across the value chain
- Saving money through efficiency gains
- Improving investor confidence.
How do I start?
Schedule a complimentary carbon strategy review session with us today. We can start you off on the right pathway for a net-zero future.
For more information about getting a complimentary review or to speak with us about your net-zero future, contact us at Northmore Gordon or get in touch via email firstname.lastname@example.org