When energy prices skyrocket, they catapult previous work-at-home-lovers back to the office. Needless to say, this unexpected cocktail of the return of the workforce and the high energy prices is a massive challenge for today’s businesses, especially for the ones that want to be future-proof and stick to their sustainability goals. We've already shared some tips for creating an energy saving culture at the office.
Luckily, if you're ready to commit to net zero carbon and want to reduce your company’s carbon footprint to play your part in the fight against climate change, you still can – and science-based targets are the way to go.
Science-based targets provide a clearly-defined pathway for companies and financial institutions to reduce greenhouse gas emissions, helping prevent the worst impact of climate change and future-proof business growth. The target details how much and how quickly a business needs to reduce its emissions. To be ‘science-based’, an emissions reduction target must be in line with the scale of reductions required to keep global warming below 2°C from pre-industrial levels in line with the Paris Agreement.
Science-based target setting for your business is more than following the hype – it future-proofs growth, saves money, provides resilience against regulation, boosts investor confidence, and spurs innovation and competitiveness – while also demonstrating concrete sustainability commitments to increasingly-conscious consumers.
While still relatively new, there is already a good body of evidence to support the business benefits of this approach to carbon reduction. Businesses can expect to see cost savings as well as energy and carbon savings. The approach encourages businesses to think about their long-term sustainability plan and can even lead to innovative developments to accelerate carbon reduction. A clearly defined science-based target will also enhance a company’s reputation with key stakeholders such as investors, customers, employees, and NGOs.
The science-based approach to setting targets is still new so you may find it difficult to get buy-in from your employees and supply chain. Therefore, communication will play a vital role in success: clearly define what you are doing, why you are choosing to do it, and what the process involves. This will help to get your teams and other stakeholders on board. Keep in mind that energy saving is a mindset, not a technique.
Last but not least, to define your targets and roll out the science-based approach, you need the data to back up your vision and communication from day one. Koning & Hartman can help you choose the right software so you have real-time insight into your data at any given time. This will allow you not only to set the right targets but also to react promptly when you need to adjust your target or when to communicate in all transparency when you haven’t met a certain target.
A science-based target approach is not only about the end goal, it’s about involvement and results along the way. Good luck setting up your SBTs. We are happy to help.
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