If you follow this blog, you’ve heard us mention our support of efforts to eliminate death on the job by 2050. These efforts are part of the Work to Zero initiative from the National Safety Council. Funded by the McElhattan Foundation, Work to Zero is making innovation more accessible by helping employers explore the value of safety technology and how to determine an organization’s readiness for adopting new technology solutions.
But eliminating death on the job isn’t the only “zero” we’re thinking about. On April 5, the Intergovernmental Panel on Climate Change (IPCC) released the third part of its Sixth Assessment Report, Climate Change 2022: Mitigation of Climate Change. The other parts of the report is AR6 Synthesis Report: Climate Change 2022 and AR6 Climate Change 2022: Impacts, Adaptation and Vulnerability. The IPCC is the United Nations body for assessing the science related to climate change.
Lastest Climate Change Report: Some Better News
In the latest report, the IPCC emphasized emissions must be dramatically reduced within this decade and decline to net zero by 2050 to limit global warming to 1.5 degrees Celsius. The report wasn’t all bad news; there is increasing evidence of climate action, according to the authors of the report.
When the Sixth Assessment Report was published in February 2022, Kathleen Rogers, president of EARTHDAY.ORG, noted that a “dire and drastic transformation” was needed, adding: “We are moving much too slowly.”
Since 2010, there have been sustained decreases of up to 85% in the costs of solar and wind energy and batteries. An increasing range of policies and laws have enhanced energy efficiency, reduced rates of deforestation and accelerated the deployment of renewable energy, the authors noted.
“We are at a crossroads. The decisions we make now can secure a liveable future,” said IPPC Chair Hoesung Lee. “We have the tools and know-how required to limit warming. I am encouraged by climate action being taken in many countries. There are policies, regulations and market instruments that are proving effective. If these are scaled up and applied more widely and equitably, they can support deep emissions reductions and stimulate innovation.”
As we celebrate Earth Day on April 22, Rogers notes, “If we are to make the Paris Agreement mean anything at all then we must work together. This means everyone from individuals, businesses, governments and other parts of civil society have to commit to a transformative shift in the global economy as we know it.”
Invest in the Planet – Invest in Ourselves
It’s not surprising, then, that the theme for Earth Day 2022 is “Invest in our Planet.” Investors increasingly are aware of Environment, Social and Governance (ESG), the three central factors used to measure the sustainability and societal impact of a company. In other words, it is an approach that allows organizations to measure their contributions to sustainability and ethical practices in a way that provides transparency to the market, financial benefits to the organization and benchmarking for industry. Investors are using the data found in various ESG reporting frameworks to determine what companies they want to support.
Some studies show that the companies with strong ESG performance are more likely to provide strong financial returns and reduce risk. Thus, ESG invites special attention from the investor and financial community. In addition, customers, employees and suppliers/partners are becoming increasingly diligent about associating with the companies creating positive impact for the environment and society.
“This is the biggest change since the Industrial Revolution and sliced bread,” notes Rogers. “…Now is the time to truly see our potential to change history. Change has never been easy, but it takes just a committed effort from a few to create the tipping point necessary. The solutions are out there and we know what must be done, whether it’s transitioning to renewable energy, conserving our forests and lands or ridding ourselves of the scourge of plastic pollution.”
Discover how Intelex and Datamaran are helping organizations take a more rigorous approach to ESG data collection and ESG strategy, including through data-driven materiality risk management and board oversight.