Climate change is transforming the business environment in which companies operate. The Paris Agreement on limiting global warming to well below two degrees, adopted by the international community at the 21st United Nations Climate Change Conference (COP21) in 2015, stresses the strategic relevance of corporate climate action.
We help companies to identify potential risks and opportunities arising from climate change and climate policy. Based on the results, we work with you to develop strategic solutions and advise you on the formulation of a climate strategy and its operational implementation through a climate action management system.
The development and formulation of a climate strategy is key to introducing a climate action management system, as it provides a system to measure and compare the company’s ambitions in this area. A climate strategy is based on precise knowledge of the relevant sources of emission and an assessment of the associated opportunities and risks for the company’s business model. Formulating a climate strategy creates a framework for action and provides guidance for the further development of the business. The strategy should include the following elements:
As an integral part of the analysis, we recommend producing an overview of the climate strategies of other companies in the industry. This allows your company to benchmark its own climate strategy.
Setting a climate target is the core element of any climate strategy. When setting their own specific targets for reductions in greenhouse gas emissions, companies should be guided by the globally agreed 2°C limit in order to safeguard their long-term competitiveness. What generally drives companies to introduce a climate strategy are increased regulations and changes in the market environment, e.g. new customer requirements (especially B2B).
We will work with you to prioritize the main emission issues and work out measures to reduce your emissions. When developing a climate target for your business, we draw on the Science Based Targets approach and the associated emissions target calculation methods. The most widely recognized approach (Sectoral Decarbonization Approach) was developed jointly by CDP, the UN Global Compact, the World Resources Institute and the WWF as part of their joint Science Based Targets Initiative.
Key performance indicators (KPIs) are instruments for measuring and steering target achievement. They have the greatest impact if the company has a clear and binding organizational and incentive structure. The challenge lies in selecting and defining KPIs that are meaningful, can be aggregated, provide comparability and facilitate effective control. sustainable will work with you to define meaningful KPIs for internal management as well as for external communication purposes.
Identifying opportunities for minimizing greenhouse gas emissions is an important step in the development of a climate strategy, as it provides a starting point for determining how the targets can be achieved. To this end, it is necessary to analyse which opportunities for reducing greenhouse gas emissions have already been used and where further potential still exists. sustainable has several years of experience in helping companies with the development of climate protection measures – both at their own facilities and along the value chain – as well as with the development of in-house emissions trading systems. Together with our subsidiary sustec, we can provide you with extensive advice, especially for lighting.
Carbon offsetting is based on the principle that only unavoidable GHG emissions should be offset. It enables private individuals and companies to contribute to climate protection by voluntarily offsetting their emissions. Carbon offsetting projects can also promote the transfer of sustainable technologies to developing countries.
The aim of a carbon offset strategy is to make a concrete and transparent contribution to climate protection. Carbon offsetting requires a company to calculate its carbon footprint and grab its opportunities to reduce its emissions. We can assist you with the following aspects of your carbon neutral strategy by using carbon credit / voluntary GHG certificates: