[Opinion] Why a corporate decarbonization plan?

The agenda of the last few weeks was marked by two announcements of the World Meteorological Organization (WMO)July was the hottest month in history, and the beginning of the global El Niño phenomenon, which could be intensified by the increase in global temperature. We are experiencing a climate crisis and we need to reduce greenhouse gas emissions. (GHG) emissions by at least half by 2030, and achieve net zero emissions by 2050. Businesses, as drivers of economies and accelerators of technology adoption, must take up this challenge. 

Emissions management has become central to the performance and competitiveness of companies. The ability to mitigate climate change will be a key to entering new markets, accessing financing with better conditions, differentiating themselves from the competition, attracting the best talent, increasing stock market value and protecting their reputation. In Peru, the commitment of large companies to manage emissions throughout their value chain will be the key to including MSMEs and local enterprises that supply them with goods and services in this trend.

Globally, more and more companies are taking important steps based on a clear decarbonization plan. IKEA aims to be 100% circular and carbon neutral by 2030 and shares the logic of sustainability with its suppliers: it uses 1% of the world's wood and ensures that it is recycled and certified. Tesco, one of the world's largest supermarkets, has set out to make its operational value chain carbon neutral by 2035. Its plan includes electromobility, renewable energy supply, changing the cooling and heating system in stores, working with agricultural producers to reduce the use of fertilizers and encouraging sustainable consumption. 

The development of a decarbonization plan starts by identifying the company's drivers and motivations, the global context and the climate ambition of the country and the sector. By knowing the company's emissions profile, in all its scopes, the materiality and transformation potential in its value chain can be determined. Internal training and communication are essential parts of the plan. Thus, a road map which combines short-, medium- and long-term actions to focus mitigation efforts and achieve the benefits of effective emissions management, starting with savings but aiming at improving competitiveness. 

It is essential to continue to carry out decarbonization actions from the companies in order to face the climate crisis and develop the country sustainably. At the core of this effort is the development of a strategic, practical and widely communicated decarbonization plan, which will make it possible to mainstream sustainability in the business and achieve the benefits it entails.

If you would like to learn more about the Decarbonization Plan click here