2024 Energy Sustainability Outlook Report Preview
The effects of climate change are no longer a future concern, or even one for another corner of the world – they are happening here and now. The year 2023 was officially the hottest on record and saw a record number of billion-dollar disasters in the US alone.
Organizations must work quickly to manage both the financial risks resulting from climate change and severe weather events, and the transition risks to their business as we make the necessary strides toward a low-carbon economy.
States are also turning up the pressure – 24 states plus the District of Columbia have now adopted specific greenhouse gas (GHG) reduction targets to address climate change, 13 of which are using carbon pricing to cap and reduce emissions.
The good news is, focusing on sustainability as part of responsible business strategy can deliver real long-term value – elevating reputation, optimizing both customer and employee satisfaction, and acting as a differentiator in a competitive and volatile marketplace.
Companies know that this can be a win-win for business and their biggest stakeholder – our planet, and are moving from good intentions to real action. But while net zero emissions is the destination, the path is not straightforward. Our 2024 Decarbonization Outlook Report breaks down three ways companies can prepare as we embark on this decarbonization journey:
- Take advantage of funding: Billions of dollars in funding is being made available for businesses looking to reduce their carbon footprint. Applying for funds in good time is imperative.
- Implement a carbon accounting system: Both regulators and stakeholders expect transparency and accountability, and those with a system in place to understand and account for their emissions now will be in a stronger position to stay ahead.
- Develop a resilience plan: Organizations must assess their climate-related risks and build contingency plans against future disruption.
Watch this space for our full 2024 Decarbonization Outlook Report, coming in the next few weeks. It takes a deep dive into these three crucial steps businesses should take on the path to net zero.
If you would like to receive an in-depth breakdown of these trends and opportunities in our 2024 Decarbonization Outlook Report, please contact us.