Government and corporate commitments, finance development and capital investment were the major topics on COP26 agenda. Companies can play a decisive role in accelerating climate action, both by decarbonizing their own operations and by developing and producing the next generation of technologies that can help prevent ongoing greenhouse gas emissions. For companies in carbon-intensive operations (e.g., cement, steel, transport) the challenge to address carbon neutrality is even bigger.
However, engaging companies in climate action requires significant capital investment, along with changes to workforce skills and long-standing practices. Are companies ready to take this step forward?
Towards a global standard for sustainability disclosures
Executives and financial analysts claim that businesses are now prepared to take on a bigger role in tackling climate change. However, moving away from fossil fuels requires considerable investment and financial resources and boost of sustainable business. World leaders and governments have pledged to tackle the challenge of climate change and a global consensus seems to be finally forming.
To this end, the creation of the International Sustainability Standards Board was the most significant step at COP26 for investors and companies, because it creates the baseline for companies to report their climate impact. Moreover, globally comparable sustainability disclosures decrease the risks of greenwashing vastly.
Towards net zero
Moreover, the transition to net-zero greenhouse emissions is not an easy process as it requires businesses in every sector and particularly in hard to abate sectors to overhaul their stocks of equipment and their product portfolios so that emissions are greatly reduced, if not eliminated. This agenda will entail significant capital spending, including the build-out of renewable energy capacity and the retrofitting of buildings and factories. Some spending is taking place already and the establishment of standards for companies to follow is being set.
How can companies make the shift to real carbon neutrality in a way that doesn’t disturb business?
Business leaders need to understand the new standards and get updated on new practices and tools that will ensure the long-term growth of their organisation.
In December, CSE’S European Certified Sustainability (ESG) Practitioner Program – Digital Version, will bring together business leaders and C-suite executives, investor relations officers, ESG professionals, corporate directors to review approaches and establish best practice/standards towards transition plans to net zero. The discussion will also address sustainability risks and opportunities, and the most trustworthy and applicable ESG frameworks and news from global and European legislation. Corporate leaders will have the opportunity to remain in good standing with the providers of the capital that their companies need to sustain long-term growth.
Register now and book your place on time.
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