Net-zero strategy
To achieve the 2050 net-zero target every UK organisation will need to play its part.
A net-zero strategy is a plan for how a business will get from where it is today to a state of net-zero emissions.
Inspired’s ESG consultants help businesses develop a robust, data-driven net-zero strategy. Our strategy development includes the following key steps:
- Modelling of science-based near and long-term emission reduction targets
- Net-zero workshop/s for senior leadership, ESG working groups, employees, and suppliers
- Creation of a net-zero strategy report documenting a decarbonisation roadmap with detailed short, medium, and long-term actions to reduce emissions
Inspired then provides support implementing the net-zero strategy as well as calculating annual progress against targets.
Inspired’s approach
The first step in developing a net-zero strategy is to understand the starting point. Inspired quantify all applicable Scope 1, 2, and 3 emissions sources as per the Greenhouse Gas (GHG) Protocol guidance.
Once the GHG inventory has been calculated, Inspired model near and net-zero targets. These targets may be aligned to the latest climate science, competitor targets or sector pathways.
At a net-zero strategy workshop, Inspired present potential targets and discuss important considerations of each target option, including target year, feasibility as well as practical steps needed to meet the target.
Inspired’s ESG cons then work with businesses to develop a detailed decarbonisation action plan. This plan splits emissions into decarbonisation focus areas, and maps short, medium and long-term decarbonisation actions for each focus area.
A Net-Zero Strategy Report is produced which provides a written transition plan to guide businesses from their baseline position to net-zero, and meet any interim targets on the journey.
To ensure progress is made towards net-zero, Inspired measure progress against targets on an annual basis and work with businesses to update their net-zero strategies, taking into account the latest technological development and business changes.
Key deliverables
Once a business’s GHG emissions inventory has been calculated, Inspired will aim to produce a Net-Zero Strategy report within four months.
The initial two months include target modeling and net-zero workshop(s) with relevant stakeholders, while the latter two months involve the development of a detailed decarbonisation action plan and the Net-Zero Strategy report.
Net-zero workshops delivered by
Inspired’s ESG experts
A bespoke Net-Zero Strategy report detailing baseline emissions, targets and a decarbonisation action plan, updated on an annual basis
Advice from Inspired’s ESG experts
on all matters net-zero
Talk to an expert
Kristina Beadle
ESG Director
“At Inspired, we’re proud of our work supporting clients along their net-zero journeys. We help clients through the whole process, from understanding their starting greenhouse gas emissions position to developing science-aligned targets and establishing and delivering a clearly defined decarbonisation plan.”
Related ESG services
Climate-Related Financial Disclosures (CFD or TCFD)
Net-zero targets and a decarbonisation transition plan make up important parts of the TCFD’s ‘Metrics and Targets’ and ‘Strategy’ sections. As part of Inspired’s Climate-Related Financial Disclosure offering, a net-zero strategy is developed and communicated with key stakeholders.
Streamlined Energy and Carbon Reporting (SECR) – Scope 1 and 2 emissions
Quantifying and understanding a business’s Scope 1 and 2 emissions is imperative to developing a robust decarbonisation action plan. Inspired work with businesses to measure their Scope 1 and 2 footprint prior to developing a net-zero strategy.
Policy Procurement Note 06/21 (Carbon Reduction Plan)
A PPN06/21 Carbon Reduction Plan is a high-level overview of a company’s net-zero strategy as it covers baseline and recent GHG emissions, targets, and decarbonisation actions. Inspired will produce a PPN06/21 compliant Carbon Reduction Plan report as part of the Net-Zero Strategy report.
Energy Savings Opportunity Scheme (ESOS)
The Energy Saving Opportunities Schemes require UK businesses to conduct site surveys to identify energy and emission reduction opportunities at their sites. Inspired would use the findings of these surveys as the basis of Scope 1 and 2 decarbonisation actions and develop an action plan based on the recommendations in the survey reports.
Science-Based Target initiative validation support
The Science-Based Target initiative (SBTi) is the internationally recognised body for validating emission reduction targets. The near-term and net-zero targets recommended by Inspired as part of the Net-Zero Strategy service will be science-based and aligned with the latest SBTi criteria.
Scope 3 emissions inventory
Quantifying and understanding a business’s Scope 3 emissions is imperative to developing a robust decarbonisation action plan. Inspired work with businesses to measure their Scope 3 footprint prior to developing a net-zero strategy.
Life Cycle Assessments (LCA) / Environmental Product Declarations (EPD)
Life Cycle Assessments (LCA) / Environmental Product Declarations (EPD) allow businesses to demonstrate the environmental impact of the products they sell and are being increasingly requested by ESG-conscious customers. Understanding and reducing the emissions associated with a business’s sold products will form a key part of achieving net-zero Scope 3 emissions.
Carbon trading
Net-zero requires businesses to reduce their GHG emissions on an absolute basis and only offset a small quantity of residual emissions. Understanding the use of offsetting, i.e. to claim carbon neutrality or in preparation for achieving net-zero, is discussed as part of the Net-Zero workshop and an offset purchasing plan will be reviewed as part of the Net-Zero Strategy development.
Partnership Carbon Accounting Financials (PCAF)
The Partnership Carbon Accounting Financials (PCAF) provides specific methodologies to account for investment-related Scope 3 emissions. For financial institutes, Inspired will follow the PCAF guidance to measure investment-related emissions and use these findings to identify hotspots and develop a decarbonisation action plan.
Target setting for financial institutions
There are numerous frameworks for target setting for financial institutes, such as the Science-Based Target initiative’s Financial Institute guidance. Inspired work with financial institutes to review the existing target setting frameworks relevant to their assets and to develop aligned near-term and long-term targets.
Quick links
At Inspired, we’ve been putting a lot of effort into helping businesses to understand ESG and its associated benefits. But, our support doesn’t end there.
Climate-related financial disclosures (CFD or TCFD)
Science-Based Target initiative validation support
Life Cycle Assessments (LCA) / Environmental Product Declarations (EPD)
Get in touch
Please speak to a team member today to find out how we can help your organisation set and achieve a net-zero target.