BCSD Australia News
Business Council for Sustainable Development Australia
Galvanizing forward-thinking companies and organizations to accelerate the transition to a sustainable Australia.
As we close out the year, we’re highlighting key developments shaping the path to net-zero, nature-positive solutions and setting the stage for 2025. From the transformation of the chemical sector and pivotal guidance on carbon dioxide removals, to innovative supply chain collaborations and landmark leadership changes at GRI, the momentum for corporate accountability and climate action continues to gain speed. We also celebrate fresh insights into how buyer-supplier relationships can drive down Scope 3 emissions, and how strategic framing of corporate communications builds trust with consumers.
Thank you for staying with us throughout 2024. We’ll pause our newsletter during the holiday period and return on January 13, 2025, ready to bring you more insights and updates.
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?? Webinar alert: Transform the future of chemicals!
Are you shaping decisions or driving change within the chemical value chain?
Our webinar, hosted by WBCSD and ERM, offers a unique opportunity to explore how the companies producing and relying on chemicals can lead the way toward net-zero, nature-positive solutions.
Roadmap to Success – Transforming Towards Net-Zero, Nature Positive Chemicals
??? 15 January 2025
?? 4:00–5:00 PM CET
What you’ll gain in this interactive session:
? Insights from the newly launched Chemical Transformation Roadmap: https://lnkd.in/eHtA_uxw
? Best practices for advancing sustainability across chemical production and use
? Pathways to drive systemic change for a just, sustainable, and equitable future ?
This is the first webinar in a two-part series. The second session, focusing on product portfolio transformation, will take place in February 2025.
Register now to secure your spot: https://lnkd.in/epFbsJmT
WBCSD’s The Climate Drive has partnered with Eclipse, AB InBev’s supplier-dedicated sustainability platform, to profile and reward suppliers taking ambitious and transformative climate action ??
Three awards have been given to recognise sustainability leadership on impactful decarbonisation initiatives, ecosystem action, and innovative technologies ??
Through this collaboration, which will continue into 2025, AB InBev’s suppliers have been invited to share best practices in The Climate Drive’s action library, to inspire sustainable action in the manufacturing industry and beyond ??
Explore the case studies here ?? https://lnkd.in/edkUu9nw
Carbon dioxide removal (CDR) must be part of the solution to tackle the climate crisis.
Although it is imperative that we prioritise reducing greenhouse gas emissions, estimates show that we will need to remove anywhere between 5-15 gigatons of carbon dioxide from the atmosphere each year by 2050 to successfully limit global warming to 1.5°C above pre-industrial levels.
To achieve this target, CDR deployment will need to scale four-fold – with some novel methods needing to scale by several orders of magnitude ??
Our latest white paper highlights strategic opportunities to create in-value chain CDR in selected industries, including energy, built environment and transport & mobility and provides clarity on what in-value chain CDR means for greenhouse gas inventories and SBTi targets.
WBCSD encourages companies to act now to evaluate the business case for in-value chain carbon removal.
Download the paper ?? https://lnkd.in/dGv4_N7Q
Australia’s labour market continues to outperform, according to the recently released Australian Bureau of Statistics figures with the unemployment rate dropping to a remarkable 3.9% in November 2024. This puts the country among global leaders in job market strength, ahead of the US, UK, and Canada.
What’s driving this resilience?
The data reveals a net employment increase of 35,600 people, with a notable rise in full-time jobs (+52,600), while part-time jobs decreased (-17,000). The participation rate remains robust at 67%, despite a slight dip from September’s historic high of 67.1%. Interestingly, public sector and government-funded industries such as healthcare, education, and disability support are fuelling much of this growth, accounting for 84% of job creation since early 2023.
Implications for Businesses
- Tight Labour Market: The competition for talent remains fierce, with unemployment and underemployment rates well below pre-pandemic levels. Business leaders must prioritise innovative strategies to attract and retain employees.
- Sectoral Shifts: The reliance on government-driven employment growth suggests opportunities for partnerships in infrastructure, healthcare, and education. Private-sector leaders may need to pivot strategies to leverage these trends.
- Wage Trends: Wage growth is stabilising, with new enterprise agreements seeing average increases of 3.6%, down slightly from earlier highs. This offers breathing room for inflation-conscious employers but signals a possible plateau in worker earnings.
BCSD Australia welcomes the Environment Ministers Meeting outcomes, which introduce strong national policies that pave the way for Australian business leadership in circular economy, biodiversity protection, and climate resilience.
These reforms present tangible opportunities for companies to streamline operations, reduce costs, differentiate themselves in competitive markets, and build resilience against climate risks.
BCSD Australia encourages all businesses to take immediate steps - conducting operational audits to enhance resource efficiency, engaging in government consultations for practical regulations, investing in sustainable R&D, and prioritising climate risk management. Embracing these measures today will help ensure long-term competitiveness, environmental stewardship, and economic growth.
$2.6 trillion -?that’s how much is spent annually on subsidies that harm biodiversity, accelerate climate change, and degrade ecosystems. These subsidies, designed to support industries, are instead keeping us trapped in unsustainable practices. ?
As Eva Zabey, CEO of Business for Nature, puts it: "The more people are dependent on these subsidies, the more the subsidies will remain, and we won’t be transitioning away." ?
By redirecting public funds toward?nature-positive solutions, we can protect the planet, foster sustainable industries, and ensure a just transition for communities worldwide.
?? New CEO appointed!
After a global search, the Global Reporting Initiative is thrilled to welcome Robin Hodess as its new CEO, starting February 2025!
Robin joins GRI from The B Team and brings deep expertise in strategy, governance, and policy, with a strong record of fostering collaboration on global challenges and advocating for transparency.
???“I am thrilled to be joining GRI. ?Their sustainability standards are unique in enabling meaningful reporting on the impact of efforts to achieve a sustainable future. ?I look forward to working with our partners to ensure sustainability reporting drives a thriving, inclusive economy for all.”
With more and more companies opting to work closely with their suppliers to make inroads on scope 3 emissions, We Mean Business Coalition’s new blog by Jenny Ahlen and Sonya Bhonsle, CDP looks at the correlation between buyer practices and supplier climate action.
It reveals that buyers’ efforts are paying off - with suppliers that receive support from their corporate customers more likely to look at their climate risks, set emissions reduction targets, and reduce annual emissions.
Climate action by suppliers is critical to enable corporations to meet their emissions goals and make global supply chains more resilient to climate-related pressures. When suppliers take action, the whole value chain benefits.
Companies are using a range of tactics to engage suppliers, including large-scale supplier outreach, capacity-building and training, and incentive programs.
While tackling emissions in the supply chain can be challenging, supplier engagement is an effective way to start and makes sense for both the climate and the bottom line.
??? In our latest podcast episode, William Sisson chats with Michael Maslansky of maslansky + partners about the importance of language in meeting rising expectations for environmental disclosures.
?? Insights from maslansky + partners & WBCSD research show that consumers expect companies to act responsibly - not just for shareholders, but for everyone. Aligning climate action with 'responsible business' is the key to building trust and impact.
Listen to episode 7 of 'Transformative Leadership in Business' here ?? https://lnkd.in/eGstaEY8