CLIMATE News #5: What 2022 was all about

We all know: this year was complicated! 2022 felt many times like a mess. Not in the right place and time, and certainly not on track with international climate goals.

However, there were many positive highlights and some developments on the horizon show that a regenerative future - and economic transformation - is already on its way.

In our CLIMATE News were share these update on a bi-weekly basis. Make sure to not miss them, and get them directly in our inbox by signing up here.

If you missed it so far, get here the recent highlights

?? How global regulations effect your company in terms of climate disclosure, reduction efforts and collaboration in the supply chain

?? What companies can take away from COP27 and how the new political agreements affect business climate transformation.

?? Why 2023 we will strive together with the CLIMATE Community at ClimateSummit.de 2023 sharing challenges, experiences and best practices - gaining exclusive insights into effective CO? reduction.

What become clear in 2022: Holistic Climate Management is key

How can companies operate in a climate compatible way? ??

This question drives us all as the Climate Transformation needs more structure, strategy and speed! The idea for a solution comes from Climate Disclosure ??

The emerging models strive to capture corporate climate management holistically and make its results visible. They provide companies with clearly defined criteria for every aspect of climate protection to support their climate transformation journey.

?? Which top Climate Disclosure Frameworks are important? 

1??. The global "de facto" Climate Disclosure Standard was provided by TCFD - Task Force on Climate-related Financial Disclosures in 2017. 

2??. The International Sustainability Standards Board (ISSB) started in 2021 its work as independent, private sector body to develop global Sustainability Disclosure Standards.

3??. The European Financial Reporting Advisory Group (EFRAG) started its work on creating standards to implement the Corporate Sustainability Reporting Directive (CSRD) also in 2021. Now a draft with 12 standards were published.

So what is the take away from all of this?

All frameworks have in common that a holistic approach is key! They require much more that CO? accounting. Companies need to understand their maturity along forward looking indicators and manage their performance within the company and across the supply chain. Therefore a holistic climate management approach includes:

? Governance— processes, controls and procedures to monitor and manage climate targets, risks and opportunities

? Strategy— a transition plan how to enhance or change a company's business model over the short, medium and long term to adapt to or mitigate climate change

? Risks — transparency about how climate-related risks and opportunities are identified, assessed, managed and mitigated 

? Metrics & Targets — monitoring of a company's performance in relation to climate-related risks and opportunities, including disclosure of Scope 1,2 and 3 emissions

With are very honoured to support companies with our Climate Intelligence Platform in this process. It provides a holistic climate management structure for your own company and supports your climate management along the supply chain. Find here our 2022 review.

Take your actions now and transform your company into a climate champion!

Best time to make a wish list for 2023 - and implement it in a strong transition roadmap towards net zero.

Which actions are on your list?