From intention to action: Driving change in your organisation
As COP29 places climate change at the forefront of global discussions, government leaders are gathering to address climate-related commitments.
As COP29 places climate change at the forefront of global discussions, government leaders are gathering to address climate-related commitments. In this context, businesses must assess the impacts and opportunities that arise.
The UK is currently targeting a 68% reduction from 1990 levels in all GHG emissions by at least 2030, with a recommendation from the Climate Change Committee that this be increased to 81% from 1990 to 2035. This will necessitate further and faster reductions in emissions, and the UK government is likely to urge businesses to meet these goals. This could involve increased reporting requirements and potentially mandated emission reductions.
However, there are also opportunities for businesses to emerge as industry leaders by setting ambitious targets and implementing meaningful actions or by providing products and services that facilitate the transition to a low-carbon economy.
For companies aiming to enhance their Environmental, Social, and Governance (ESG) performance and sustainability practices, the initial step is to determine what is relevant and material to their operations while identifying gaps in data and actions. This assessment will inform the development of a robust ESG strategy that includes short-, medium-, and long-term objectives and initiatives.
Once an ESG strategy is in place, a key recommendation is to prioritise governance. Climate-related issues should be integrated throughout the organisation, from Board oversight to daily operations. Regularly addressing climate change at Board meetings will ensure it receives the necessary time and attention, which auditors increasingly demand. Additionally, establishing a dedicated ESG Committee can help develop and implement a climate change strategy for larger companies. Clear communication of these plans to employees is also crucial for fostering engagement and buy-in.
To track progress and avoid accusations of greenwashing, businesses should establish clear, measurable targets and key performance indicators (KPIs). A solid starting point for many organisations is to understand and baseline their Scope 1, 2, and 3 carbon emissions, building on existing reporting frameworks such as Streamlined Energy and Carbon Reporting (SECR) and Energy Savings Opportunity Scheme (ESOS). Targets should focus on reducing the organisation’s contribution to climate change. Aligning these targets with industry standards or global initiatives, such as the Science Based Targets initiative (SBTi), is advisable.
How can Inspired help
At Inspired, we offer the expertise and support necessary to develop and implement an effective ESG strategy. We leverage a company’s existing systems and data collection processes to embed ESG into regular business activities, making it an integral part of the organisation.
Our assistance ranges from conducting a gap analysis report to meeting mandatory TCFD or CSRD reporting requirements or preparing a voluntary ESG report or net-zero strategy. As COP29 places climate change at the forefront of global discussions, government leaders are gathering to address climate-related commitments. In this context, businesses must assess the impacts and opportunities that arise.
