en English af Afrikaans sq Albanian ar Arabic hy Armenian az Azerbaijani eu Basque be Belarusian bg Bulgarian ca Catalan zh-CN Chinese (Simplified) zh-TW Chinese (Traditional) hr Croatian cs Czech da Danish nl Dutch et Estonian tl Filipino fi Finnish fr French gl Galician ka Georgian de German el Greek ht Haitian Creole iw Hebrew hi Hindi hu Hungarian is Icelandic id Indonesian ga Irish it Italian ja Japanese ko Korean lv Latvian lt Lithuanian mk Macedonian ms Malay mt Maltese no Norwegian fa Persian pl Polish pt Portuguese ro Romanian ru Russian sr Serbian sk Slovak sl Slovenian es Spanish sw Swahili sv Swedish th Thai tr Turkish uk Ukrainian ur Urdu vi Vietnamese cy Welsh yi Yiddish
Open Translation

NAIROBI: Milan Kooijman is a Climate Business Expert at WWF. He says as the results of global warming accelerate worldwide, its time for corporations to show “true leadership” by taking social responsibility for the impact of their emissions:

We are at a defining moment in the fight to tackle climate change. To limit warming to 1.5°C and avoid the most catastrophic impacts for people and nature, we must implement far-reaching and unprecedented changes across society. The science is clear that the next few years are crucial, as the risks of climate change and nature loss are quickly becoming too much to bear.

The corporate sector has a central role to play by rapidly reducing their emissions in line with climate science. Companies are facing increased pressure from shareholders, customers, investors, regulators and civil society organisations to act on sustainability. As the impacts of climate change accelerate, these pressures will only ramp up, requiring business to take decisive action.

It’s now or never. We need companies to support society in realising this huge transition in ways that extend beyond their own immediate supply chains. Climate leadership should be measured by the actions companies take to reduce their impact and support people and nature. Many solutions already exist to address emissions within a company’s value chain, many of which make good business sense and can create opportunities to reduce costs and boost their reputation.

Reducing emissions and supporting climate adaptation efforts will result in considerable benefits to society, ranging from reduced air pollution, improved human health, fully decarbonised energy systems and production processes, sustainable and fulfilling consumption patterns, sustainable agricultural practices, reduced biodiversity loss and the creation of sustainable cities.

But the longer we hold back on putting all our efforts towards 1.5°C, the more we will need to adapt. The challenge is immense as companies in various sectors must rethink the way they do business and decouple value creation from value growth. Rapid reductions in greenhouse gas emissions need to be balanced with reducing other environmental impacts and doing so in an equitable way.

Luckily there are signs of hope. We are seeing a massive increase in the number of companies setting emission reduction targets in line with the Science Based Targets initiative. We also see companies starting to decouple their emissions from their business growth.

To continue to speed up the transition and build on the Blueprint for Corporate Action on Climate and Nature, WWF and our corporate partners have continued thinking about what true corporate climate leadership looks like.

In collaboration with WWF’s Climate Business Network, this project aims to further support companies in their sustainability journey and provide guidance that can support ambitious and substantiated corporate claims. We call it ‘Beyond Net-Zero’.

Our Beyond Net-Zero guidance explains how businesses can become climate leaders and maximise their contribution to limiting global temperature increase to 1.5°C. This is done by halving their emissions by 2030 and achieving net-zero emissions by 2050 at the latest.

Beyond this, the company should finance and support additional climate and nature solutions within and beyond their value chain, engage responsibly and actively in climate policy, collaborate with other companies and stakeholders and enable and inspire customers.

The work to address climate change should not happen in isolation of other activities. Climate action should be part of a holistic approach addressing sustainability and social impacts in connection to the overall business strategy. It is crucial to engage all levels and segments of a business and all social and environmental impacts.

To support companies on their climate journey, seven actions have been identified that companies are expected to engage on:

1. Account and disclose consistently and transparently according to best available practices and against all commitments.
2. Set climate targets in line with 1.5°C according to the SBTi near-term and net-zero guidance.
3. Reduce value chain emissions (Scope 1-3) in line with the 1.5°C trajectory by halving emissions by 2030 and reaching net-zero by 2050 at the latest.
4. Finance and support climate and nature solutions across and beyond the value chain.
5. Engage responsibly and actively in climate policy in line with 1.5°C and ensure internal and external corporate policy alignment.
6. Collaborate with value chain partners, peers, employees and other key stakeholders to overcome critical barriers to scaling climate action.
7. Enable and inspire customers through sustainable products and services, education and campaigns, and transparent and accessible information.

We will continue to work with our corporate partners to provide more guidance and examples to help companies in implementing their climate and sustainability strategies. Will your company go Beyond Net-Zero?

Story Type: News

Vote for my Story

Our Rating: 9% - 1 votes

1000 Characters left

Latest News

May 19, 2022
People Editor

It won't be business as usual when the ports are underwater

CHARLOTTE, NC: A recent IEA-related article in the Guardian newspaper included a quote from Greg Muttitt, an energy expert at the International Institute for Sustainable Development: “Governments and companies often suffer from a form of cognitive dissonance:…
May 19, 2022
Emissions Editor

Cruise ships emit more CO2 than airlines?

WASHINGTON, DC: Bryan Comer leads the International Council on Clean Transportation (ICCT) marine programme - dedicated to providing policymakers with the data and analysis they need to avoid, reduce, and eliminate pollution from the global shipping sector.…
May 18, 2022
Energy Editor

Marine biofuel pioneer expands in Asia

SINGAPORE: GoodFuels, a biofuels pioneer for the transport industry, has signed a partnership agreement with ITOCHU Corporation, one of Japan’s largest general trading companies, to scale sustainable marine biofuel in Singapore, Japan, and Asia-Pacific. The…
May 18, 2022
Emissions Editor

Microsoft cash produces more emissions than the manufacturing, transport and use of its products

WASHINGTON, DC: A new report has revealed how the banking sector uses client cash to finance fossil fuels while undermining the sustainability efforts of climate-conscious companies including Google, Meta and PayPal. ‘The Carbon Bankroll: The Climate Impact…
May 18, 2022
Transportation Editor

CMA CGM integrates Air France-KLM

PARIS/MARSEILLE: Air France-KLM and CMA CGM have signed a 10-year exclusive partnership that could result in a 9.0 percent stake in the airline group and a Board seat for the French logistics company’s president and CEO Rodolphe Saadé. The deal will result…
May 16, 2022
Transportation Editor

United Heavy Lift expands greener fleet

HAMBURG: Project and outsize cargo carrier United Heavy Lift has ordered two more F900 Eco-Lifter vessels to add to a fleet of 17 delivered between 2019 and this year. The company is phasing out all its UHL 800 P-type vessels in a bid to operate a modern and…
May 13, 2022
Emissions Editor

Climate crisis worsens despite corporate promises

GENEVA/LONDON: A report from the UN World Meteorological Organization (WMO) says it’s likely the annual average global temperature will reach 1.5 °C above pre-industrial levels at least once in the next five years. The odds of exceeding the Paris Agreement…
May 13, 2022
Transportation Editor

Royal Mail to expand UK drone network

LONDON: Britain’s Royal Mail is to create 50 new postal drone routes over the next three years as part of a partnership with UK logistics drone operator Windracers Group. Subject to regulatory approval, the company will operate Uncrewed Aerial Vehicles (UAVs)…
May 12, 2022
People Editor

What’s lost when we talk ESG and not Sustainability

LONDON: Andrew Winston is coauthor with Paul Polman of ‘Net Positive: How Courageous Companies Thrive by Giving More Than They Take’. Just as fossil fuel companies should not lead the planning of our energy future, he suggests it is equally unwise to let…
May 12, 2022
Technology Editor

Turning trash in a flash to capture carbon

HOUSTON, TX: A new process developed by the Rice University lab of chemist James Tour can turn bulk quantities of just about any carbon source – i.e. a banana peel - into valuable graphene flakes at a fraction of the current price of up to US$200,000 a ton.…
May 11, 2022
Transportation Editor

Deutsche Post DHL ‘GoGreen’ - but will Germany?

BONN: Deutsche Post DHL is to invest €600 million in sustainability-related logistics infrastructure including 280 carbon-free delivery depots – 100 of which are scheduled for completion at the end of this year. In addition to a current fleet of 20,000…
May 05, 2022
Food Editor

Putin’s War reveals fragile food supply chain

WARSAW: An international donor conference has raised US$6.5 billion for humanitarian aid to 7.7 million Ukrainian citizens internally displaced and a further 5.5 million now refugees in other countries. After 10 weeks of Russia’s invasion, a new report from…

We are using cookies

By continuing you are agreeing to our use of cookies

I understand