The Climate Action and Innovation Matrix, a collaboration between Planet FWD and Climate Collaborative, is your definitive guide for aligning your brand and business strategy with environmental stewardship.
The Matrix encompasses 5 pillars of action to help you identify your current position across each, then align your 2024 (and beyond) planning for impact and efficiency.
- Climate action begins with establishing a baseline for your greenhouse gas emissions.
- The baseline serves as a starting point for tracking your progress and setting achievable targets for reducing your impact.
- A clear and defined baseline will demonstrate transparency and credibility to your stakeholders, showing your dedication to addressing environmental concerns.
- Make sure to define specific goals to determine the scope of your measurements and the accuracy of your data.
- Whether you're Exploring or Pioneering in your climate work, choose reliable tools aligned to global standards (such as Greenhouse Gas Protocol and ISO) that are CDP-compliant.
- Always show your work - be transparent about where your data comes from, who your partners are that helped with your calculations, and the methodologies used.
- Whether you are just exploring a climate commitment or want to be on the leading edge, root your commitment in scientific data and align it with The Paris Agreement (1.5° C).
- Ensure that your commitment is both ambitious and realistic, with a measurable and time-bound target.
- Clear communication about your commitment, as well as your plans to achieve it, is crucial.
- Plan for the financial and operational implications of your commitment to guarantee that the necessary resources and strategies are in place to achieve your climate action goals.
- The most impactful climate efforts are informed by a clear strategy.
- This strategy will guide your choices, enabling you to effectively focus your efforts on achieving specific environmental goals.
- By strategically allocating both financial and human resources, you can maximize your return on investment in terms of emissions reductions, business continuity, and potential cost savings.
- A well-defined strategy can enhance your reputation among key stakeholders, including shareholders, consumers, and employees.
- Prioritize transparency, accuracy, and comprehensiveness in your disclosure.
- For smaller companies, basic reporting may be sufficient.
- As larger enterprises increasingly prioritize their Scope 3 emissions and need to meet their targets (i.e. those set with SBTi) there is increasing pressure on all companies, including yours, to track and disclose emissions.
- It’s critical to collect your data rigorously, verify it, and ensure it’s based on recognized global standards.
- By disclosing your entire environmental impact, from direct operations through your supply chain, you showcase your genuine commitment.
- Effective communication with stakeholders about your climate commitments is essential to build trust and demonstrate authentic corporate responsibility.
- Clearly articulate your commitments and progress using a variety of communication channels.
- Emphasize the steps you have taken, the outcomes achieved, and any challenges faced.
- Honest and proactive communication creates accountability and mitigates greenwashing concerns.
Get the complete Climate Action & Innovation Matrix to access additional tools to aid your 2024 climate action planning.
