The transition to net zero is the collective responsibility of businesses of all shapes and sizes. For many it will present significant challenges, but with that comes opportunity, and the possibility of developing new business models and driving efficiencies.
The UK government target to achieve net zero carbon emissions by 2050 has major implications for businesses. Now is the time to set your own targets for the coming years and understand the changes you need to make as an organisation to meet these.
- We are already seeing a shift in supply and demand for sustainable products and services. Responding to these trends early could give you a competitive advantage as consumers look to support businesses which are having a positive impact on climate change.
- Make sure to safeguard your business from risks presented by extreme weather events such as heatwaves, flooding and drought which could disrupt your supply chain, damage facilities and increase capital costs.
- Across industries, we are seeing a step change in sustainable innovation such as battery storage, carbon capture and advanced materials – act fast to adopt disruptive technologies that mitigate climate risk to give your business a first mover advantage.
- Move quickly to meet regulations, laws and policies to avoid early retirement of assets, regulatory fines and the need to purchase of carbon credits to offset emissions.