COP27 – how businesses can play a role

COP27 is being held in Sharm El-Sheikh, Egypt this week and next, bringing together world leaders, heads of business and civil society members to address climate change and its impacts.

cop27 and science based targets

5 business benefits of setting a science-based target

Taking place seven years after the Paris Agreement was agreed at COP21 in 2015, the main focus of COP27 is on reducing greenhouse gas emissions, helping countries adapt to climate change and securing the technical solutions and finance to make that happen. 

As the clock ticks on climate change, what role can businesses play? 

For businesses, setting a science-based target provides a clear pathway to reduce greenhouse gas (GHG) emissions in line with the 2015 Paris Agreement and help prevent the worst impacts of climate change.

While science-based targets are undeniably good for the planet, they are also good for business too.

1. Improve brand reputation

As consumer awareness of climate change grows, a brand’s reputation for sustainability is of the utmost importance. By working more proactively with sustainability and delivering the level of corporate responsibility your customers expect, you can strengthen your brand reputation as well as becoming a more attractive employer.

2. Boost investor confidence

Sustainability is not only important for consumers and employees. Investor interest in ESG is increasing and we see them using sustainability as a benchmark of business credibility. By setting a science-based target, your company can demonstrate that it is ambitiously working to future proof its business.

Insight from our ESG100 report

 

Did you know that 53 percent of the largest listed companies in Scandinavia have not disclosed a plan to achieve net-zero emissions aligned with the Paris Agreement and the EU’s climate goals?

ESG100 report

3. Reduce costs

Some might say that reducing emissions comes at too high a cost. By setting targets for reducing greenhouse gas emissions you can, however, reduce costs by building resilience against raw materials and resources derived from fossil fuels which will become more expensive in the long run. 

4. Fast-track your sustainability transformation

Moving from ambition to action will speed up your sustainability work. The process of implementing a science-based target will reduce emissions within your operations, products and services, thereby making them more sustainable.

5. Improve competitiveness

Setting a science-based target can help to drive innovation in your company through the development of low-carbon products and services. Combined with a stronger brand reputation and investor confidence, your company will gain a competitive advantage to lead the way and succeed in the low-carbon economy. 

 

Get started with science-based targets

So far, almost 2,000 companies have had their target approved by the Science Based Targets initiative (SBTi) and another 2,000 have committed to setting targets in the coming two years. 

To join them and take action on climate change, please share your contact details and we will be in touch to help you get started with setting your science-based target.

Want to know how we can help you make ESG measurable and actionable, accelerating your sustainability agenda?

Please share your contact details and we will be in touch shortly.

 

More about Position Green

Get in touch

Sign up for newsletter

We’re always looking for great talent to join our team. Let’s create a sustainable future, together.

 

Vacant positions