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The regulatory changes and shifting market demands, as well as the opportunities to innovate and improve operational efficiencies that come with a globaleconomy shifting towards low-carbon technologies. Scenario analysis is a core recommendation, helping businesses understand potential impacts under different climate futures.
Founded in 2015, SBTi was formed as a collaboration between CDP, World Resources Institute (WRI), the World Wide Fund for Nature (WWF), and the United Nations Global Compact (UNGC), with the goal to establish science-based environmental target setting as a standard corporate practice.
Central to this effort has been a continuous effort to decarbonize our business. Raising our ambition to achieve net-zero emissions is a key element of our approach to sustainability, which looks across the interconnected areas of holistic steering and reporting, climate action, the circular economy, and social responsibility.
States and regions have, on average, reduced emissions by 14% as global emissions continue to rise. The Climate Group and CDP call for states and regions to set more ambitious emissions reduction targets for 2030 and beyond to limit global heating to 1.5°C By comparison, only 25% of global electricity is renewable.
From harvest failures to disruptions in logistics, the impacts of climate-related disasters such as severe flooding and extreme heat also mean greater costs for businesses and consumers in a globalizedeconomy. It is increasingly urgent for companies to take effective action to decarbonize and build resilience in their supply chains.
Despite the barriers, our survey found that 92% of organizations identified long-term decarbonization as a priority for their business. We Mean Business Coalition, in partnership with CDP, Ceres and EDF has reviewed existing resources to produce consolidated guidance for creating robust plans.
In April 2024, CDP rolled out a dedicated SME corporate questionnaire , which is a simplified version of their corporate questionnaire and allows SMEs to report voluntarily. The business benefits of getting reporting right go beyond compliance.
Highly respected institutions such as the International Energy Association (IEA) and the Energy Transitions Commission (ETC) remain upbeat that the shift to a net zero globaleconomy is possible and well underway. In this context, companies can and should be on track to cut emissions in half by 2030 and reach net zero by 2050.
This was hardly the first expression of concern about the potentially devastating economic impacts of climate change on companies, markets, nations and the globaleconomy. economy throughout this century, especially in the absence of increased adaptation efforts.”
And over additional 40 businesses have signed the World Green Building Council’s commitment to decarbonize the built environment across their portfolios and business activities. C is a campaign led by the Science Based Targets initiative in partnership with the UN Global Compact and the We Mean Business coalition. .
As a result, 90% of the globaleconomy and a third of the 2,000 largest companies have net-zero pledges. Among several requirements, companies will need to reach deep decarbonization of 90-95% before 2050. As an example, according to CDP 2021 supply chain report , upstream emissions are 11.4
"We have an opportunity to extend the recent response of regulators, businesses and investors on climate change to nature; both are interrelated and both pose a systemic risk to the globaleconomy.". Mellody Hobson, Co-CEO and President, Ariel Investments. LinkedIn | Twitter.
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