Low Carbon Pledge-Ambition, Action & Transparency ?

Over the summer of 2023, we became increasingly aware of the climate crisis with extreme events and impacts featured almost daily in global media. It was hoped that emissions data would help paint a more optimistic picture for the road ahead. However, in August 2023, the European Commission's data analysis wing Eurostat showed while emissions in the EU fell just under 3% in the first quarter of this year compared to the same period last year, Ireland's rose more than 9%. They also found that 15 of the 21 countries analysed managed to decrease emissions while growing their GDP demonstrating the importance and viability of decoupling economic growth and carbon emissions.

Business?in the Community Ireland (BITCI) calls on all its members to continue to drastically reduce their carbon emissions while ensuring that both nature and the just transition are at the heart of their zero-carbon journey. Supply chains and scope 3 emissions present significant challenges but also represent substantial opportunities, an area we have seen a surge in support requests from our members. Addressing scope 3 emissions requires collaboration, data transparency, and continuous improvement, which is central to our Low Carbon Pledge and upcoming sustainability reporting requirements. Reduced risk, compliance, increased consumer/shareholder confidence and improved market stability are just some of the many benefits in investing resources in scope 3 emissions.

BITCI, in partnership with 普华永道 Ireland, will shortly publish our fifth Low Carbon Pledge (LCP) progress report. Since 2021 we have increased the ambition of the Pledge, as all signatory companies now work towards setting science-based targets for their entire carbon footprint, including value chain emissions. Encouragingly we see signatory companies' ambition translating into action through their commitment and setting of science-based targets, now publicly reported on the Science Based Target Initiative online dashboard (SBTi).

Transparency and authenticity have always been central to this collective call to action. Like SBTi this year's LCP report will list all 68?signatories alongside their individual progress towards setting science-based targets and information on scope 1, 2 and 3 emissions. This will help to align the LCP information and data with that of SBTi for greater clarity on actual climate action. In completing this annual progress report, Pledge signatories are now more prepared for upcoming mandatory sustainability reporting with the impending Corporate Social Responsibility Directive (CSRD). However, many of our members consistently go beyond compliance when it comes to their sustainability commitments as they see the competitive advantage in doing so. Over 50% of signatories have already committed to net-zero science-based targets alongside those that have signed up to Race to Zero thus accelerating their decarbonisation efforts and improving their climate resilience.

Here are some actions you can take right now for impactful climate action:

• Has your business calculated your carbon footprint across scopes 1, 2 and 3? Start here to understand your greatest climate impact as it relates to carbon.
• Implement a climate transition plan and net-zero science-based targets. Check out guidance from We Mean Business Coalition.
• Move to renewables. As a quick win switch to a renewable energy agreement with your provider. Better still invest and implement your own renewable energy technology.
• Decarbonise as soon as possible, improve your efficiency across your own operations and share your learnings for others to follow your lead.
• Engage with your supply chain, employees and key stakeholders. What products, goods and services can you examine to reduce lifecycle carbon emissions? Remember smaller businesses will need support to help you on your journey-engage and educate for a mutually beneficial outcome and a just transition. Check out the SME Climate Hub and the free Climate Toolkit 4 Business to help with supply chain emissions calculations.
• Measure, manage, publicly report and remain agile when it comes to your climate action performance. Are emissions going up? What can you do right now to bring them down?
• Nature-based solutions- look at your impacts/dependencies on nature and how climate and nature go hand in hand.
• Educate and upskill internally, why not check out our resource packed Sustainability Handbook

For more information contact Aoife Gillen (Remote- Donegal) , Sustainability Advisor, [email protected]?