A Single Company Cannot Address The Climate Crisis Alone, Corporate Collaboration Is Important

Whether it’s a sportsperson trying to outdo their rival on the playing field or a tech giant attempting to develop the latest cellphone and dominate the market, competition and going it alone can drive innovation and success. When it comes to the environment and climate change, however, things are different.

During a recent debate Steve Sedgwick, Delaporte emphasized the need for different parties to work together. “The reality is that no single company can address the climate crisis alone,” he said. “To really have a big impact and to really drive … real results to net-zero we need to standardize [a] net zero approach to ensure the progress is made efficiently and effectively,” he went on to explain.

One example of climate-related collaboration is the Science Based Targets initiative, or SBTi, a partnership between the World Wide Fund for Nature, World Resources Institute, CDP (formerly the Carbon Disclosure Project), and United Nations Global Compact.

The latter’s CEO and executive director, Sanda Ojiambo, explained how the SBTi was leveraging the four organizations’ strengths. Leading companies, she said, had “been setting emissions reduction targets in line with the latest climate science advanced by the SBTi.”

Earlier this year, the SBTi published a progress report for 2020. Among other things, this looked at emissions reductions from 338 firms it described as having “approved science-based targets.”

For Ojiambo, getting the message out there and communicating progress is a crucial tool. “It’s been really important to demonstrate that, with science-based targets, progress has happened,” she said. “For us, it’s important to have a standard and it’s important to not only raise the ambition but make sure that actions are grounded in science and we’re able to track and measure that progress.”












SOURCE: CNBC.
IMAGE SOURCE: PIXABAY