1. Spend Time to Conduct a Comprehensive ESG Audit and Materiality Assessment. Assess your organization’s current impact on the environment, society, and governance structure, as well as which of these ESG issues are material to or influence your financial bottom…Read full post
Net Zero Goals: How to be transparent and tangible
In this article, we will break down what net zero is all about, and explore methods to implement to ensure transparency and creation of tangible goals.
What Is Net Zero?
Net zero emissions refers to finding a balance between the amount of emissions your company produces and the amount of greenhouse gasses absorbed naturally by the environment or removed via technology like carbon capture and storage. Achieving net zero requires you to balance the amount of greenhouse gasses you emit with the amount you remove. Net zero does not mean you produce zero emissions – it means you lower your emissions enough that they are no longer contributing to climate change.
Remember – net zero is a long-term goal. Think of net zero like getting in shape – it takes a healthy lifestyle and consistent trips to the gym to get fit, and it takes a combination of sustainable choices to reach net zero. Committing to net zero at your company is not a decision that should be made lightly. Once committed, it is crucial to create clear, consistent communication with stakeholders, employees, and customers to demonstrate your long-standing commitment to net zero.
How to Ensure Transparency and Consistency in Communications
A net zero pledge should be made publicly by the leadership of the company across all platforms. Making ambitious net-zero goals don’t mean much without a viable action plan—with the timeline, budget, and team to back it up. This pledge should contain interim targets and plans to reach net zero in line with IPCC or IEA net zero greenhouse gas emissions, a sort of road map. The goals stated should be concrete, achievable, and feasible. Having those clear interim targets and milestones makes companies directly accountable for staying on track and timely, and viewers will be able to track tangible progress made against this road map.
To ensure complete transparency, keep processes as public as possible. Companies should disclose their emissions on an annual basis. Break down emissions into clear categories such as scope and source, and be sure to include your historical data to showcase growth and progress across the company. If certain areas have slowed in progress, include information on how these will be prioritized in the future and how success can be replicated there. Social and environmental issues are constantly interconnected, so involving others, especially stakeholders in this process, allows for conversations about broader ESG goals that impact your employees directly. Prioritizing full transparency and disclosing progress and setbacks builds credibility with investors, customers, stakeholders, and others in the sustainability space.
Net zero goals need to be effectively understood and communicated company-wide. Your net zero strategy should be integrated across the company and reflected in both budgetary priorities and the KPIs of relevant business units. By building net-zero strategy into core business operations, companies have a great chance at mobilizing the resources, buy-in, and momentum they need to meet their climate goals.When conflicting messaging arises across different departments, this inconsistency reflects badly on the company.
To build accountability and credibility, companies may also partner with third-party organizations like CDP, the Science-Based Targets initiative, and the World Resources Institute to verify targets and progress. Organizations like WatchWire can also assist with this process by providing interval data monitoring to consolidate your emissions data and determine areas of inefficiency that are impeding your net zero ambitions.
To discover more about WatchWire and its capabilities, you can visit our website, blog, or resource library, request a demo, or follow us on LinkedIn, Instagram, or Twitter to keep up-to-date on the latest energy and sustainability insights, news, and resources.
1. Generative AI is Driving Climate Action and Bridging the Sustainability Data Gap At the heart of the discussions on data and technology was the power of generative AI to analyze data needed for climate action and compliance. As technology…Read full post
Visualize your renewable offsets Analyze actual vs. guaranteed production Transparency into production issues With the rise in net zero emissions goals as well as national building performance standards, onsite renewable generation or RECs are becoming widespread. The issue, however, is…Read full post
Consult our experts on how WatchWire can help with your specific needs. Request a personalized demo today.Request a Demo