Takeaway #1: Set a clear and ambitious emissions reduction commitment in the short-term.
Most companies are criticised for both a lack of ambition and a lack of transparency on their target. Companies could communicate more clearly by mapping out the specifics of their net zero carbon pathway: what projects are on the plan, how many emissions will each project reduce, and what investments are being made to do so.
Takeaway #2: Drive emissions accounting and reduction plans into your value chain.
Scope 3 emissions, or those in the value chain, make up the majority of most companies’ carbon footprints. Carbon reduction commitments cannot be credible without a good understand of scope 3 and a target to reduce these emissions, too.
And my personal takeaway? We are rightly moving from a need to announce a carbon reduction commitment to a need to demonstrate reductions. The best thing that any company can do is properly plan out their emissions reduction pathway and then begin implementing reduction projects, right away. These plans must be communicated clearly, and with enough detail to satisfy a range of stakeholders. The pressure is only going to grow, companies need to take action to improve their communications right now.
If you would like to discuss how to improve your climate communications, please feel free to get in touch: Rachel.Madan@luminous.co.uk
