5 Climate Action Strategies for Businesses

The facts stated by the World Health Organization are astounding. As per the organization, climate change is going to cause around 2,50,000 more deaths per year between the decades 2030-2050. But the world also seems determined to fight climate change. 

Here is Sweden that comes with the foremost achievements in climate protection. While it seems to be an inspiration for countries like India, much needs to be done in our country’s regard. The climate action perspective takes all new life when we take into consideration Indian businesses. For instance, 57 companies from India have committed to the Science-Based Targets initiative (SBTi). This sets the trigger for an elaborative climate action plan and even bigger climate action strategies. 

The 5 most substantive climate action plans that can be adopted by businesses are:

1. Cut Down Your Carbon Release

The main sources of carbon emissions within a company are vehicles and furnaces, electricity purchase, travel, heating, and cooling. At least 50% emission reduction in the next 10 years should be the mission of most environmentally conscious businesses.

Source: Power Engineering

The pledge in this regard should be:

  • Preparation of an official base year for maintaining a commitment towards emission reduction.
  • Track and map your self-made emissions with regularity and care.
  • Develop a stringent plan to reach the set target. It is advisable, to begin with targets that are easy to conquer.
  • Build a transparent company avatar when it comes to revealing its emissions and plans, at the office and even at the public level.

Tip:  Click here to take a look at what Apple is doing to go carbon neutral by reducing the emissions from supply chain and product manufacturing.

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2. Make Climate Change a Priority While Devising Business Strategies

India is facing various climate change phenomena. Some fact-based examples include a rise in temperature of cities by 48℃ in 2020, a three-fold increase in rainfall since 1950, and a rise in the north Indian ocean level by 3.2 mm per year. Indian businesses need to take a look at these grim facts. And remember them well while realizing their business impact on climate and environment.

Source: Carbon Digital

To begin with, smart business strategies encircling climate should be made. The steps in this direction can be:

  • Add a price on carbon to make climate an important part of business investment procedures.
  • Stay focused on solutions by highlighting them in your portfolio which will even help your consumers to cut down their emissions.
  • Keep your mission and vision statement updated. The up-to-the-minute processes and strategies should showcase your climate pledge.
  • Include climate strategy in devising product and service models and make all the relevant solutions stick to the 1.5℃ ambitious target.

Tip: Read here what NASA says about responding to climate change and include its advice in your business strategies.

3. Contribute Towards Climate Action in Society

Business leaders can be the torchbearers of climate action. Why not experiment with your role as a business leader? Look out for something more proactive. Be a climate leader!

Source: Concordia University Chicago

Climate action can be supported through your business network, customers, suppliers, and NGOs. The success of the Race To Zero Campaign is an example of a collective climate action involving businesses. The commendable campaign represents 733 cities, 3,067 businesses, 173 recognized investors, and 622 higher educational institutions. 

You need to pay heed to the following points to excel in your contribution towards climate action in society.

  • Enter into a collaboration with customers and suppliers to ensure a sustainable transformation of value chains.
  • Your financial investments should be integrated with the climate target of 1.5℃. The same should be done for public affairs and policies.
  • Inspire and influence the policymakers at local and national levels to frame policies under the set limitation (1.5℃).

Tip: Apart from collective climate action, you can also gear up for some individual climate change action. Take a look here.

4. Focus on Energy Efficiency 

Energy efficiency has the power to reduce costs and risks. It helps to improve brand reputation. And most of all it’s healthy for the planet. 

Source: Medium

It is a well-known fact that brands who pay more attention to energy efficiency make dual savings, both in emissions and money. As a company owner when you calculate the carbon footprint of your firm, you will be surprised to know that majority of it revolves around energy use. 

All you need to do to focus on energy efficiency is:

  • Draw SMART energy-saving goals for your company. And here SMART means – Specific, Measurable, Accountable, Real, and Timely.
  • A strong tracking and measurement system is a must.
  • Sizeable resources should be put into efficiency by the organization.
  • Organizational support should be accompanied by effective leadership.

Tip: Explore the EP 100 initiative adopted by companies to increase their energy productivity. On an interesting note, this pledge can save greater than $2 trillion by 2030 worldwide.

5. Perform Outstanding Research on Sustainability

A deep-thinking approach towards sustainability can be the only way to achieve a truly green business. Well-documented research on the topic is one of the primary steps to drive active climate action. 

Source: SpringerLink

When you decide to take a deep dive into studying the impact of your business, you know that you will be judging a lot of links in your business chain. Through thorough research, you can know about:

  • The state of the community
  • Human and environmental effects across your whole business supply chain
  • The life cycle of materials

Knowing about all the above things is vital to gather the core of sustainability into the heart of your business model.

Tip: Performing Life Cycle Analysis (LCA) and including sustainability experts in the entire research process should be an important consideration.

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Businesses should also not forget the importance of taking small steps. Small steps apart from the above-mentioned ideas can generate a lot of happiness and growth. Perhaps these slightest of efforts like recycling waste, turning to natural light, and using tap water over packaged water can be amazingly beneficial. For individuals, businesses, communities, and the planet!

– Sonali Sharma

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