Sustainability: business, life, environment

The Intergovernmental Panel of Climate Change (IPCC) is the leading body for the assessment of climate change, established by the United Nations Environment Program  (UNEP) and the World Meteorological Organization (WMO) to provide the world with a clear scientific view on the current state of climate change and its potential environmental and socio-economic consequences. 

In 2007 the Intergovernmental Panel of Climate Change (IPCC) stated that developed economies must reduce greenhouse gas (GHG) emissions by 80-95% by 2050 in order to avoid dangerous climate change.  As the world waits for the United Nations Framework Convention on Climate Change in Copenhagen this December, many in the business world are pulling back on business sustainability strategies to address emissions.

In the 2008 study, The Carbon Chasm, the report utilizes the Carbon Disclosure Project  (CDP) dataset to analyze how the world’s largest companies currently set emissions reduction targets and whether planned reductions are sufficient to combat long term climate change. It also draws evidence from 12 in depth interviews with Global 1003 companies to show what motivates senior management in setting GHG reduction targets and business sustainability strategies. 

The key finding include:

•    73% of Global 100 companies report some form of reduction target, while a significant minority (27%) do not.

•    Company target setting is motivated by market forces, not scientific requirements.

•    CO²-equivalent targets dominate and are more popular than energy efficiency or energy consumption targets.

•    Absolute targets outstrip intensity in popularity, with almost twice as many absolute (86) targets compared to intensity (45).

•    84% (103) of target deadlines are set to 2012 or before which suggests that businesses are waiting to hear outcomes of the UN Conference of the Parties meeting in Copenhagen this December.

•    The absence of a standard framework for setting emissions reduction targets has led to a patchwork of company specific targets, which have developed from individual company priorities and market forces.

•    There is a broad consensus that a ‘one-size-fits-all’, cross-industry approach, is not a favored option within a voluntary process.

With global climate discussions coming up in Copenhagen and new US legislation on the immediate horizon, it is advantageous for many companies to have a proactive and comprehensive carbon reduction strategy.  Businesses that have an understanding and are taking proactive action on both their direct and indirect exposure will have a distinct advantage over their competition.  Taiga Company offers access to sustainability consulting and small business resources to companies implementing business sustainability strategies to reduce emissions.