Climate change is a significant change in the measures of climate like precipitation, wind, and temperatures. Generally, the primary cause is human activities that increase greenhouse gas emissions and pollution. Leading companies typically take actions outside and inside the organizations that reduce emissions and become resilient to climate impacts.
Internally, such businesses take steps to reduce carbon footprints. Externally, they engage suppliers, policymakers, customers and report energy usage and emissions data publicly. They also demonstrate that they are committed to climate action as they partner with other stakeholders and support environmental management policies. As we have been endeavoring to navigate opportunities and risks posed by climate change, this TCFD framework has guided our company since 2017.
Here are some strategies that a business can use to deal with climate change issues:
Choosing Greener Equipment and Infrastructure
A company can choose environment-friendly equipment and infrastructure. It involves setting up hybrid vehicles or renovating the cars of employees to environmentally friendly standards. Also, instead of new equipment, companies can fix laptops, air conditioners, and office materials, and when beyond repair, they can buy efficient and sustainable versions. A company needs to use devices and equipment correctly to avoid quick deterioration and repair gadgets that break down.
Increasing Awareness Among Customers and Employees
Companies make a difference by educating people on how their actions impact the environment. Businesses can encourage stakeholders to be sustainable in their efforts to fight against climate change. Through a green team, they identify opportunities that improve environmental initiatives and spread messages in organizations. Today, customers expect businesses to operate sustainably. Also, they can reduce energy consumption through daily routine actions, thus impacting climate change.
Integrating Climate Issues in Business Strategies
Many industries need to redesign their strategies to be environmentally sustainable. It requires transforming the business models to open up innovation and new revenue streams. Businesses can begin by mapping the plan on their net-zero future and consider what it takes and how it will look like. Examples include adopting renewable energy, fossil-free materials, and electric vehicles.
Reducing Value Chain Emissions
Value chain emissions are the emissions outside the company, like upstream activities from suppliers and downstream activities from the products they sell, representing a large portion of its footprint. An enterprise needs to actively work to reduce emissions by following guidelines on procurement and the code of conduct on suppliers, changes in product design, and collaborating with customers and suppliers.…