Given the huge challenge the world faces in turning the tide on climate change and reaching the promised land of net zero, it was encouraging to read this World Economic Forum article from last week that shared a number of the solutions being explored by business leaders to accelerate progress in the coming year.
Greener technologies are now coming on-stream and accelerating developments in more cost-effective ways than first thought. Allied to this, the acceptance of hydrogen as a long-term energy source; more robust, measurable and tangible commitments; investment portfolio decarbonisation; green corporate partnerships; and standardisation of carbon footprint metrics will all require much greater cross-industry collaboration to deliver the level of impact that truly makes a difference beyond isolated individual activities.
In our view, we believe it is critical that this collaborative mindset also extends to supply chain partnerships, as outlined in my previous article. The spectre of Scope 3 emissions is one faced by countless companies, regardless of the industry they operate in, and meaningful progress will only be achieved if suppliers, manufacturers and retailers all lean into an overarching objective of better carbon management.
The old adage that a chain is only as strong as its weakest link has never been truer with regard to achieving and sustaining carbon reduction goals. Now is the time for collective strength, collaboration and commitment to action to come to the fore.