Emma Kisby, EMEA CEO at cogo.
The United Nations Climate Change Conference in 2022 (COP27) takes place in Egypt in November. What progress has the world made towards a zero-zero and circular economy since the UK took the spotlight as host last year?
Some would argue little. Even when the event was still going on, Greta Thunberg told a protest rally that COP26 was a “failure.” Immediately after the event, Greenpeace was equally critical. But the reality is that we cannot afford to see COP as a failure because we cannot afford to give up or fail. Literally, the future of our species – and everything that comes with it – is at stake.
But rather than give in to the fear and paralysis caused by the magnitude of the challenge we must overcome, I believe that optimism can play a key role in driving change. As a company with a significant impact on your customers, you have the choice of how to approach your part in the climate crisis. And providing practical ways for your customers to play a role is much more powerful than just making them passive recipients of your own business processes.
Helping consumers better understand the impact of their spending is one example. My company partners with banks – organizations that have one of the largest consumer reach of any service provider – to offer easy-to-apply lifestyle changes based on customers’ spending data, enabling them to make small adjustments that escalate to global impact. Based on my experience, this is how I believe businesses and consumers can come together to drive and accelerate our global carbon reduction efforts to tackle climate change. Target of 1.5 degrees Celsius set by the IPCC.
Stop applying an offset patch to the problem.
The defining characteristic of COP is conversation: it brings people together to encourage openness and collaboration. While companies are rightly asked to reduce their climate impact, there is evidence that this is counterproductive in some cases. In turn, as awareness of climate issues rises, there is a growing fear of being seen doing nothing — or, perhaps worse, doing something that smacks of greenwashing.
In this rush to “do something”, many are failing to compensate rather than diminish. The risk here is that by being able to declare a company as net zero, we are not taking into account the core issues of how the company creates emissions in the first place, and overlooking the actions that would make more meaningful changes in the long run. cause.
In reality, you will never be able to offset all emissions. The ultimate goal should be to reduce greenhouse gas emissions. Start by looking at all elements of your business to understand where you might be able to take action. Outlining the areas where you can reduce emissions, and how, will give you a list of areas to focus on offsetting instead.
Most importantly, focus on progress, not perfection. While it may feel like there’s a lot of pressure to be carbon neutral, taking the right first steps is essential, even if you’re not quite where you want to be. Language plays an important role. For example, “carbon conscious” is a term coined by companies that have embarked on their journey but recognize that they may not have reached their goal yet. Small changes in the way we formulate the problem can completely change our view of the challenges and opportunities ahead and bring new momentum and motivation.
Mechanics of the Economy
Market optimism can be as essential as external factors to the success of a new business model or product type. When there is a sense of security or confidence in a particular sector, it leads to more investment. More investment means more solutions entering the market and receiving the funding to develop and test. The resulting competition ensures that the best solutions emerge over time.
Although there is a cooling in VC investment for tech in the first half of 2022, those companies with a clear vision and the resources to make it happen will always grab the attention of investors. I see more and more investors reporting that they consider the environment, society and governance (ESG) part of their investment decision-making process. This is largely due to the expectation of new sustainability reporting and regulation on the horizon as consumer demand for greater corporate carbon transparency begins to shift the agenda.
While it’s true that companies have already grabbed a lot of the low-hanging fruit, this should give us confidence in the change that can be driven and the space still available to tackle some of the tougher climate change challenges . An obvious example is the future of the oil and gas industry. Innovative, temporary solutions that help balance current needs with future aspirations are especially important to help all businesses, regardless of industry, take the first steps toward a lower-impact future.
Optimism for COP27
If despair is a paralysis, then hope (and with it optimism) is a powerful motivator. Like its predecessors before, the COP27 will be a great opportunity to celebrate progress and identify opportunities for improvement. While conversations will still be the order of the day, we must measure both our progress and ambition by our willingness to be bold and formally agree to maintain the pace of improvement. Let’s hope our world leaders can learn from the best work happening in business and use this drive for problem-solving as inspiration in tackling the crisis we all face.
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Janice has been with businesskinda for 5 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider businesskinda team, Janice seeks to understand an audience before creating memorable, persuasive copy.