Insights on CSRD implementation in the financial sector, Internal Carbon Pricing, biodiversity and LCA's
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We're excited to share with you our monthly sustainability insights. In this issue, we introduce you to our CSRD survey findings and explore why we should treat climate targets like financial ones. We also look into the potential of Internal Carbon Pricing, the compelling case for biodiversity integration into business models, and how to use Life Cycle Assessments to drive sustainable transformations.
? Finally, our webinar on EU Climate Reporting Standards (ESRS E1) is coming soon! Click here to sign up or find more info below ↓
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Reporting and implementing CSRD with no specific finance sector guidance is proving to be a challenge. Last month, we launched a survey to uncover the main issues Nordic and European firms encounter when working on CSRD implementation in the financial sector.
Here are 3 key findings we unveiled on CSRD implementation within the financial industry:
We want to share our learnings and reflections with you, to make this journey easier to navigate for companies in the long run. Read the full white paper here .
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Imagine if companies treated financial targets the way they treat climate targets
What if we apply the rigorous strategies and accountability measures used in financial planning to climate goals? Imagine backing climate targets with structured plans, dedicated resources, and clear incentives for every employee who is aligned and engaged in the mission.
Global emissions are still rising. And though many companies with climate targets are making progress on reducing their Scope 1&2 emissions, few of them have managed to significantly reduce Scope 3 emissions, where most of their emissions come from. Maybe because of that I often get asked whether it’s feasible to achieve ambitious climate targets. 19 times out of 20 my answer is: “Yes. But only if you take the target seriously.”
The key to real progress is reducing ... →
If you want to learn more about how we tackle decarbonisation roadmaps, get in touch with our Head of Climate Ole .
This is an extract from our monthly newsletter. For the comprehensive curated selection of articles from our resident sustainability experts, industry insights based on our project portfolio, and webinars deep-diving into the newest developments within corporate sustainability, you can sign up here: https://bit.ly/4bgJqnD
Revving up for net-zero: the game-changing force of Internal Carbon Pricing
As the corporate world accelerates towards bold climate targets, the burning question remains: How can we ensure that these ambitions turn into action? The answer may lie in a burgeoning trend that bridges the gap between climate commitment and financial strategy: Internal Carbon Pricing (ICP).
A recent report by the Carbon Disclosure Project highlights an 80% rise in ICP adoption globally from 2017 to 2020, signalling a promising shift towards integrating the cost of carbon emissions into financial decision-making.?
Integrating an internal carbon pricing scheme can serve as an effective tool to facilitate a seamless transition towards low-carbon operations. While the journey to widespread ICP adoption has its obstacles, at its core,?the concept?offers a flexible framework that empowers companies to internalise the environmental cost of their emissions. This facilitates sustainable decision-making informed by both ethical considerations as well as financial prudence.
You can read the full insight here .
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The business case for biodiversity
With the adoption of the Kunming-Montreal Global Biodiversity Framework at COP15 and regulations like the Corporate Sustainability Reporting Directive (CSRD), the regulatory landscape is also underlining the importance of safeguarding our planet's incredible variety of life. Why does biodiversity matter for your business? A staggering 55% of global GDP is tied to healthy ecosystems, according to a PwC report from last year. From regulatory compliance to economic dependency, the case for integrating biodiversity into business strategies has never been clearer.
However, the path forward is clouded by complexities, from the diversity of biodiversity metrics to early-stage reporting frameworks. Despite these challenges, inaction is not an option. This is what you can get started on already:
Read the article to find out how your company can approach biodiversity moving forward.
From drawer to driver: utilising LCAs to drive sustainable transformations
The growing regulatory pressure is compelling companies to leverage Life Cycle Assessments (LCAs) as a way to inform their sustainability performance. While many use LCAs to substantiate their green claims, few are fully harnessing their potential as strategic tools.
Here's what you have to know about the LCA results to translate them into actionable insights going forward:
Access the full article here .
Our upcoming webinar on ESRS E1 Implementation
On May 22nd, we are hosting a new webinar delving into the new requirements of the European Sustainability Reporting Standard for Climate Change (ESRS E1).
We're going to delve into:
The speakers are Maria Magnea Steingrimsdottir , Manager at Nordic Sustainability and Minna Shukri , Senior Consultant at Nordic Sustainability.
Join us by signing up here !
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Kind regards,
the Nordic Sustainability team