On November 30th, Verdantix hosted the EMEA Climate Summit, bringing together over 150 sustainability professionals to discuss the changing landscape in the net zero, climate risk and carbon management space. Here are three key takeaways for sustainability leaders:
- Climate data need to be more granular and managed, like financial data.
Firms now need data that are accurate, comparable and high quality. Current practices of relying on estimations do not provide business leaders with accurate information to make informed decisions. Clear and precise granular data generate trust and confidence from stakeholders by creating accountability and transparency within business practices. Moreover, for sustainability professionals, financial data should be seen as the benchmark for how climate-related data should and can be: traceable to a source, audited, consistent, comparable, verifiable and accurate. - Collaboration within and between organizations is vital.
Sustainability is no longer just an issue for a small group of individuals within an organization, but instead is a collective responsibility shared across a firm. Technology to manage and reduce emissions is only as good as the process it is embedded within. To this end, there must be a collective effort to ensure that technology works seamlessly within business processes. Moreover, collaboration must also occur between organizations. For organizations with large supply chains, this means helping firms in their value chain manage their emissions. Especially for larger firms with more resources, it is vital to collaborate with smaller organizations to help this process, which will in turn help them to reduce their Scope 3 emissions. - We must shift the climate change narrative.
We must shift the climate narrative from doom and gloom to positivity. Humans are galvanized by hope. By shifting the narrative, it can change the conceptualization of climate change from issue-based to action-based. For corporates, climate change should not be viewed as a compliance exercise but rather an opportunity to innovate and gain a competitive advantage. It is important to not become discouraged by climate change and to take a step back and see the progress that has already been made.
Verdantix will be holding its next Climate Summit in Washington DC in February – our first in the US. Head to the event page for tickets and sponsor slots.
