Is your business doing net zero?

It will not be news to anyone that climate change is one of the biggest issues we face as a planet. Climate change is an issue that experts are urging world leaders and business owners to start taking seriously, following a string of extreme weather conditions all over the globe.

Increasingly alarming research constantly reminds us that temperatures around the globe are soon set to rise to dangerous and record-breaking temperatures. People across the globe are carrying a huge weight on their shoulders to do their part in saving the planet by living more sustainable lives. However, the reality is that individuals and households can only do so much to stop the imminent climate disaster. 

Most of the change must come from businesses and corporations that are responsible for a huge portion of carbon emissions. Thankfully, more and more businesses are making the pledge to reach net zero by 2050, alongside a huge number of countries and regions.

For companies, net zero means reaching a balance between the amount of greenhouse gasses produced and the amount removed from the atmosphere. There are many questions around whether reaching this goal is possible, but Kevin Quigley, who works with businesses to minimise carbon emissions by recycling food waste, explains that it can be done with careful planning and decision making.

The UK Government has made reaching global net zero a priority of COP26 in November. The climate summit held in Glasgow will highlight how countries aim to reach this goal. However, Kevin advises that businesses should start to lay out their own sustainability plan and take necessary steps to help reach the target of net zero sooner rather than later. These steps include the following:

Prioritise

It is becoming evident that in the future, the value of businesses will be linked to their climate targets. One of the first steps your business should take is to make net zero a target of priority. By prioritising climate related targets, businesses prove to their customer that they are making a real commitment to acting sustainably and building a better future for all.

Make a pledge

By making a public pledge companies show they are willing to be held accountable for their progress to net zero. A pledge can also inspire those around them to do the same. The pledge should make clear the targets, actions, and an immediate call to action should be made clear. There are frameworks that you can use to set up your businesses’ pledge to net zero.

Plan

A net zero business plan is essential. Creating specific steps that your company will take allows investors, partners and consumers an insight into how the business plans to achieve the targets they set out. Your plan should prioritise reducing emissions before looking at offsetting, and consider any obstacles they need to be addressed to make sure that the path to net zero is as clear as possible.

Action

Taking immediate action is the only way to reach net zero. There could always be an excuse for waiting around, but businesses must show they are serious about tackling climate change. The earlier you act, the sooner your business benefits from reduced costs and long-term ROI of being a leader in the fight against climate change. It also allows time for your business plan to adjust and settle, while late-adopters may find themselves scrambling and paying the price.

Reporting

If you want people to believe your business’ commitment to reaching net zero, transparent reporting on your progress to net zero. Publishing regular updates on your progress, changes in plans and interim targets will help all stakeholders follow and support your journey and make sure you know you’re on the right path.

Partnerships

Businesses and corporation working together with their country leaders makes for a more realist effort to reach net zero goals. Through partnering with similar businesses, you can coordinate investment at scale and have a stronger approach to tackling the bigger problems.

There are key sectors that may need to get a sustainability plan outlined quicker than others, this is due to their contribution to climate change. Energy companies that deal in fossil fuels should be looking at a full transition to renewables, large-scale manufacturers must find new ways to produce goods and the travel and transport industry need to move faster on making greener tech the standard.

Net zero will only be achieved as a collective effort, and ensuring plans are laid out now means that any future laws regarding sustainability will smoothly transition into business plans that have prioritised their sustainability effort.