The call to action on climate change has advanced over recent years with companies facing more pressure than ever to develop and execute a meaningful net-zero strategy. Investors are acutely aware of the relationship between stewardship and financial performance. The message to leaders is clear: Climate risk is being viewed as a financial risk, a driver of business insecurity. In a world of concerned stakeholders, organizations that fail to mitigate their emissions face the likelihood of reputation damage.
This paper is for organizations at any stage of their journey toward mitigating or eliminating greenhouse gas (GHG) emissions. Some are trying to decide what their first steps toward net zero will be; others have reached a more advanced level of maturity in their efforts.
The five pillars of net zero
At the center of the imperative are five pillars of action
1
Decarbonize with strategic foresight
2
Operationalize sustainable behavior
3
Gain regulatory
agility
4
Establish coalitions
& partnerships
5
Digitize data and processes to build trust and prove results
Many Fortune 500 companies have outlined decarbonization strategies to achieve their targets. These strategies rely on a number of levers that include accelerating the shift to renewables, developing new product offerings, re-locating facilities, investing in carbon capture and optimizing tax credits. The detailed strategies vary significantly across industries, but there are basic elements that apply to every organization.
