COVID-19 had a significant impact on businesses, regardless of the nature of operations. It presented itself as an immediate challenge requiring the timely allocation of resources and strategies from companies worldwide. As the pandemic came to the forefront, the equally concerning matter of climate change was pushed down on the priority list.
While the world moves towards the new normal, it is safe to conclude that it will take years to fully get over the effects of the pandemic—and while the world is at it, it shouldn’t ignore the challenges associated with climate change.
Companies and climate change share a strong interrelation wherein the former plays a pivotal role in reversing the latter’s effects. In this article, we focus on the ways companies can contribute to lowering the impact of climate change.
Devising a Solid Plan
According to the IPCC’s report on climate change, it is ascertained that our planet will reach an average global temperature increase of 1.5 degrees Celsius by 2040. Failure to heed these warnings will lead to catastrophic climate events across the world, leading to widespread deaths, famine, population displacement, pandemics, and more.
Companies today need to construct a solid strategy that comprises long-term goals. A robust long-term strategy would include the consideration of transitioning to clean energy sources and attaining net-zero emissions.
The connection between companies and climate change has mounted the pressure level on organizations to showcase results in place of small-scale policies.
Adopting Zero-Carbon Technologies
Technology plays the role of a crucial support system for organizations to decarbonize their operations, enhance the energy efficiency, and contribute towards climate change on a larger level.
Reducing energy consumption is one of the foremost ways for companies to reduce their carbon footprint. Electricity used by commercial bodies is one of the top contributors to greenhouse gas emissions; therefore, movement to renewables qualifies as a necessary step for companies to counter climate change.
The movement to heat-free technology can assist companies in controlling the melting of permafrost—one of the most prominent reasons for the rise in sea levels. The transformation towards sustainable technology to facilitate operations across the company’s value chain can expedite the movement towards net-zero emissions.
Restructuring Supply Chain Decisions
It is imperative for companies to keep their emission levels in check and operations under carbon control. However, to showcase relentless commitment towards combating climate change, companies need to restructure their supply chain decisions and question if their suppliers and partners follow the same level of commitment towards sustainability.
Companies and climate change regulators can take part in regular assessments to check CO2 levels and other environmental standards. Furthermore, companies can demand their suppliers to increase the level of transparency and inform about their energy sources to ensure that they align with the set sustainability standards.
Incorporating Sustainability at The Core of Operations
Companies and climate change regulations continually emphasize the need to incorporate sustainability at the heart of the business, rather than treating it as one of the strategies to counter global warming.
It is vital to perceive the movement from fossil fuels to renewables as a part of the next industrial revolution wherein clean energy would pave the way to success and gain a competitive edge.
While companies and climate change are majorly interconnected, the road to change would also require contributions from governments and individuals. Moreover, it would be majorly beneficial for companies to partner with sustainability organizations to improve their operations and adopt technologies that would help them move towards carbon neutrality.