2019 has marked a turning point in the climate conversation. Climate change activism has gained unprecedented pace, with protests and strikes occurring across the globe, and media discussion and debate has followed. Governments, legislators and international bodies are feeling increased pressure to do more, and to do it faster.
Companies are not exempt from these pressures. Implementing a net zero transformation will be challenging for businesses. But doing so ensures that they will be well placed to attract and retain talented members of the increasingly climate-conscious workforce, to respond to stakeholder and consumer demands, and to build innovative new business models that future-proof their operations from oncoming climate risks, regulatory changes, and changing stakeholder expectation.
So how the companies in Turkey can achieve the net zero carbon target?
1- Make the commitment to net zero. Publicly committing to net zero is a milestone in transitioning business operations and holds businesses accountable to all of their stakeholders to deliver change at the pace and scale required.
2. Assess climate risks. Undertaking climate scenario analysis (CSA) to analyse risk and opportunity is a key recommendation from the TCFD. CSA uses climate models that highlight possible outcomes from different physical climate scenarios or different policy transition scenarios. This allows businesses to understand the full range of possible risks and implement management methods that are specific to each scenario.
3. Set ambitious "Sscience-based Targets" (SBTs). Once you have an SBT you will also need to map out a route to achieving them. Modelling software can help your company to look at different investment and innovation opportunities and assess the impacts that these will have in meeting the targets you’ve set.
4. Collaborate, engage and communicate. Achieving net zero globally requires a collaborative effort. There will need to be cooperation across the business community, through your value chain and within your own business.
5. Consider what to do with emissions that you cannot reduce. As companies work to reduce their emissions and move towards net zero there will very likely be some emissions that you are unable to eliminate, at least in the short term. Some companies are helping to limit global warming by offsetting their emissions.