The pressure on your business to work more sustainably increases everyday. Sustainability is no longer an optional nice to have, it has become a requirement. Even small businesses may have to put it at the top of their agendas if they are to retain clients and survive the challenges to come.
Why do companies need to be more sustainable?
The United Nations (UN), has publicly stated that if we don’t act now, we will reach the point of no return regarding climate change in just 12 years. Therefore, the closer we are to the deadline, the higher the pressures to be more sustainable are.
So where are these pressures coming from?
Political
As announced in April 2021, the UK Government is planning to slash emissions by 78% during the next 14 years. That would position the UK as the clear leader in tackling climate change. However, to reach this target, actions must be taken immediately.
Back in November 2020, the UK Government announced its intention to make the Task Force on Climate-related Financial Disclosures (TCFD) mandatory by 2025. However, it will probably be mandatory by 2022 to the largest publicly quoted companies. The TCFD consists of a set of disclosures indicating a company’s preparedness for the inevitable impact of Climate Change. The government wants investors to know how said company’s governance, strategy, risk management around climate risk will be shaped and how they will measure this through metrics and targets.
At the same time the UK as part of the UN, is working to meet the 17 Sustainable Development Goals (SDGS) by 2030. The 17 SDGS are (1) No Poverty, (2) Zero Hunger, (3) Good Health and Well-being, (4) Quality Education, (5) Gender Equality, (6) Clean Water and Sanitation, (7) Affordable and Clean Energy, (8) Decent Work and Economic Growth, (9) Industry, Innovation and Infrastructure, (10) Reducing Inequality, (11) Sustainable Cities and Communities, (12) Responsible Consumption and Production, (13) Climate Action, (14) Life Below Water, (15) Life On Land, (16) Peace, Justice, and Strong Institutions, (17) Partnerships for the Goals (visit this link for more information on the 17 SDGS).
Customers/Clients
No matter if your company is b2c or b2b, savvy customers are increasingly looking for sustainable brands with clear, green credentials. Sustainable companies are recognised and rewarded for their business practices. The need to be seen to be sustainable is a powerful global trend. To assist them reach their own targets, companies expect that their suppliers are also working to improve their sustainability.
In their last report, the Institute of Workplace and Facilities Management stated that over two thirds of the population think sustainability is either very or extremely important. The British Retail Consortium is advising their 170 members to voluntarily report on wider Scope 3 emissions when completing the Streamlined Energy and Carbon Report (SECR).
Corporate Finance
Perhaps most surprisingly, one of the strongest driving forces for environmental policy and diligence are the world’s biggest investment corporations. Blackrock and Legal & General recently carried out 53 interventions in companies,in where they felt insufficient progress had been made on the environment. Another 119 companies are on a growing blacklist for the same reason. They see what is coming and want to protect their investments.
Cost savings
We are all aware that times are tough for most companies at the moment. Covid-19 has had devastating effects on many business sectors. Cost management, as companies try to recover, are critical but now, as you renegotiate your utility contracts, you can opt for truly green tariffs and still save the money you need. You save money and dramatically reduce your carbon footprint. Examination of current carbon generation will also give you a chance to reappraise business practices and find better ways to work in line with changes in your business needs. Thinking of the carrot and stick scenario, green policies will also help you to avoid the penalties that may accompany failing to meet the growing number of sustainable regulatory standards.
Talent retention
The people that you are bringing into your business now most likely have a very different view on sustainability and its importance. Millennials and Gen Zers will judge their employers in very different ways than just salary and career prospects. The best young talent will most likely look at companies planning for a challenging future but that also place enormous value on sustainable business and being a valued part of the society they work in.
In conclusion, the pressure on business across the world for being sustainable and having a good and complete Sustainable Policy is coming from many different directions. You can ignore it but you risk losing clients, being at the whim of climate related weather events, and finding it harder to get investment.
How can I improve my Sustainability Policy?
At Enistic we can help you create your Sustainability Policy providing you with a deep analysis of your Carbon Footprint. Following our effective 7-step plan, we can help you build a carbon zero strategy:
- Outline clear objectives and a timeline. We will ask you what your goals are and we will help you to plan SMART objectives. It is important that those goals are aligned with your company’s mission and vision.
- Measure and manage your emissions data. We will ask you to provide us with all the data we need to calculate and analyse your energy consumption and Carbon Footprint. We know that not all companies have time to fill out the data forms, which is why we also offer the option to do it for you. Just provide us with the electricity, fuel, gas and transport bills.
- Make plans for long-term impact and benefit. We want to ensure that all Carbon Footprint reduction plans are as time and cost-effective as possible to help you establish the best strategy for your company. We will work with you to set long-term objectives towards Carbon Footprint reduction and we will estimate your future savings.
- Always work to the best-practice standard. Enistic has been helping thousands of companies throughout the world to reduce their energy use and Carbon Footprint ever since 2002, and we are proud of our work and services. Enistic’s aM&T solution and systems are Carbon Trust Approved. We are a Carbon Trust Accredited Supplier and a member of ESTA.
- Establish carbon reductions you can manage prior to carbon offsetting. We will assist you to set up the most suitable changes regarding simple energy-saving projects, capital-intensive energy-saving projects, and green energy adoption. These projects and changes will be based on our thorough analysis of your energy consumption and Carbon emissions.
- Ensure your offset projects meet detailed scrutiny. We know that some companies that offer offset projects, take your money but do not use it to carry out these projects. We will ensure that all the Carbon offsetting projects we suggest are the best for your company, making sure they have accreditations such as the Gold Standard certification.
- Full and transparent reporting. We will create a report with our analyses of your data and we will present you your Carbon Neutrality plan. We value honesty and transparency. We will tell you how much it will cost and also how much you are going to save. We hope you find our solutions beneficial and together we can achieve your goals.
Why don’t you book a free consultation with one of our assessors today?
Contact one of our lead assessors today and book an appointment to see how Enistic can help make the process as time and cost-effective as possible ensuring you establish the best strategy for your company.