Greenomics Ep. 7 | Sustainability Trends to Watch for in 2024
Summary
TLDREl podcast 'Greenomic' de Oxford Economics explora la relación entre el clima, la naturaleza y la economía global. En este episodio, la anfitriona Sarah Nelson y un panel de expertos analizan las tendencias de sostenibilidad para 2024 en política, tecnología y negocios. Se discuten las elecciones de 2024 y su impacto en la política climática, destacando la importancia de los Estados Unidos. Se abordan tecnologías de bajo carbono, como vehículos eléctricos y turbinas eólicas, y se exploran avances en industrias pesadas como el cemento y el acero. Además, se destaca la importancia de la cooperación internacional y la transición hacia prácticas sostenibles en las empresas, con un enfoque en la regulación y la discusión de ESG. Los invitados destacan la necesidad de liderazgo mundial comprometido con la sostenibilidad y la transición hacia una economía verde.
Takeaways
- 🌍 **Relaciones Clima-Economía**: El podcast 'Greenomic' explora las complejas relaciones entre el clima, la naturaleza y la economía global.
- 📈 **Record Climático 2023**: Se menciona que 2023 rompió varios records climáticos, incluyendo la temperatura global media más alta desde que se tienen registros.
- 🔥 **Política y Cambio Climático**: Se destaca la importancia de las elecciones de 2024 en países clave como EU, Reino Unido, Estados Unidos, India e Indonesia, y cómo podrían afectar la trayectoria climática.
- 🇺🇸 **Elecciones en EE.UU.**: Se discute la posibilidad de que si Donald Trump gana las elecciones, podría haber cambios significativos en las políticas climáticas, incluyendo la posible renuncia al Acuerdo de París.
- 🇬🇧 **Elecciones en el Reino Unido**: Se habla sobre la diferencia entre los conservadores y el Partido Laborista en cuanto a sus planes para las políticas climáticas.
- 🇪🇺 **EU y Política Climática**: Se menciona que las elecciones al Parlamento Europeo en junio determinarán la política climática de la UE en los próximos cinco años.
- 🏭 **Industrias Pesadas y Tecnología**: Se aborda la necesidad de tecnologías de bajo carbono para alcanzar el Cero Neto, y se exploran las opciones para la industria pesada, incluyendo el acero y el cemento.
- 🔋 **Tecnología de Baterías**: Se expresa la esperanza de que en 2024 las baterías penetren en el mercado para abordar necesidades de calor industrial.
- 💼 **Desafíos Empresariales**: Se destaca la importancia de la colaboración entre departamentos y la responsabilidad de las empresas por el rendimiento ambiental de su cadena de suministro.
- 📊 **Reporte de CSG**: Se aborda la importancia de la nueva Directiva de Informe de Sostenibilidad Corporativa de la UE y cómo cambiará la forma en que las empresas operan.
- ✅ **Éxito en 2024**: Se define el éxito para 2024 como la preparación para las divulgaciones SG obligatorias, la mejora en la recopilación de datos y la gobernanza, y el progreso en la descarbonización de la electricidad y los materiales clave.
Q & A
¿Qué es el podcast 'Greenomic' y qué trata?
-Greenomic es un podcast de Oxford Economics que explora las complejas relaciones entre el clima, la naturaleza y nuestra economía global. En él, se analizan aspectos de sostenibilidad y se discute lo que esto significa para los negocios en la economía actual.
¿Qué registros climáticos se打破了 en 2023?
-En 2023 se打破了 varios registros climáticos, incluyendo la temperatura global promedio más alta desde que se tienen registros, que fue de casi 1.5° C por encima de los promedios preindustriales.
¿Qué temas de sostenibilidad son relevantes para seguir en 2024 según el podcast?
-Los temas de sostenibilidad relevantes para 2024 incluyen la política, la tecnología y los negocios, con un enfoque en las elecciones de varios países, los avances en tecnologías bajas en emisiones y las regulaciones y marcos industriales emergentes.
¿Cómo podría afectar la elección de Donald Trump a las políticas climáticas de los Estados Unidos?
-Si Donald Trump gana una segunda tanda, podría haber cambios significativos en las políticas, con la posible renuncia a los Acuerdos de París y el intento de desmantelar regulaciones ambientales emitidas por la Administración de Biden.
¿Cuáles son las expectativas para las políticas climáticas en el Reino Unido y la Unión Europea en 2024?
-En el Reino Unido, si el partido Laborista gana, podría haber inversiones en proyectos verdes. En la UE, las elecciones a la Parlamento Europeo en junio determinarán la política climática de la UE en los próximos cinco años, con la posibilidad de aumentar la ambición climática.
¿Por qué son importantes las elecciones a nivel mundial para la lucha contra el cambio climático?
-Las elecciones determinan a algunos de los líderes más poderosos del mundo en los próximos cinco a seis años, período crítico para abordar el cambio climático. Además, la cooperación internacional y la presión de pares son fundamentales para mantener la ambición y la acción climática.
¿Qué avances tecnológicos son cruciales para alcanzar el Cero Net en emisiones?
-Las tecnologías de bajo carbono son fundamentales para alcanzar el Cero Net, incluyendo avances en sectores tradicionales como la industria del acero y el cemento, así como tecnologías más innovadoras como la captura y almacenamiento de carbono (CCS) y la eletrólisis.
¿Qué desafíos enfrentan las empresas en términos de sostenibilidad en 2024?
-Las empresas enfrentan desafíos como la adaptación a nuevas regulaciones de sostenibilidad, la mejora de la comunicación y colaboración interna y la gestión de la cadena de suministro para mejorar la sostenibilidad a lo largo de toda la cadena de valor.
¿Qué cambios se esperan en la industria del cemento y acero para reducir sus emisiones de CO2?
-Se esperan cambios en la industria del cemento y acero, como la sustitución de clinker con cal y yeso para reducir emisiones, y el uso de tecnologías de reducción directa de hierro (DRI) y eletrólisis para producir acero con menor impacto ambiental.
¿Qué papel juegan las regulaciones gubernamentales en la promoción de la sostenibilidad empresarial?
-Las regulaciones gubernamentales, como la Directiva de Informe de Sostenibilidad Corporativa de la UE, son clave para promover la sostenibilidad empresarial, estableciendo estándares auditables para la información no financiera y fomentando la colaboración entre departamentos y la integración de la sostenibilidad en la toma de decisiones empresariales.
¿Qué aspectos de la estrategia de sostenibilidad están en la mira de las empresas para 2024?
-Las empresas están enfocadas en la preparación para las divulgaciones SG obligatorias, la construcción de fundamentos de recopilación y reporte de datos, la estructuración de sistemas de gobernanza para temas ESG, y el fortalecimiento de la cadena de suministro para mejorar la sostenibilidad a lo largo de toda la cadena de valor.
Outlines
🌏 Política y Cambio Climático: Elecciones y Políticas Sostenibles
El primer tema aborda la política y su impacto en la sostenibilidad. Se discute cómo las elecciones de 2024 en países clave, como EU, Reino Unido, India e Indonesia, podrían afectar la trayectoria climática y las políticas ambientales. Se destaca la importancia de las decisiones políticas en la lucha contra el cambio climático y cómo los resultados electorales pueden cambiar los esfuerzos por alcanzar la neutralidad de carbono.
🚀 Tecnologías Bajas en Emisiones: Progresos en la Industria Pesada
Se exploran las tecnologías para alcanzar la neutralidad de carbono, con un enfoque en las industrias pesadas. Se mencionan métodos como el uso de acero reciclado, tecnologías de reducción directa de hierro (DRI) y el potencial de la eletrólisis en la industria del acero. Para el cemento, se discuten soluciones como la sustitución de clinker con cal y yeso, y la captura y almacenamiento de carbono (CCS). Además, se destaca la importancia de la innovación tecnológica para la producción de cemento y la industria química.
🌱 Innovaciones Tecnológicas: Retos y Oportunidades
Se discute la combinación de tecnologías exóticas y reaprovechamiento de tecnologías de otros sectores para la innovación en la industria. Se destaca la importancia de la eficiencia energética y la reducción de emisiones en la producción de bienes esenciales como el acero y el cemento. Además, se mencionan avances en la generación de vapor a partir de ladrillos cerámicos y la necesidad de soluciones para la industria química, especialmente en la producción de plásticos.
📊 Desafíos y Estrategias Empresariales Sostenibles
Se refleja sobre los desafíos y tendencias en los negocios sostenibles en 2023, destacando la importancia de la reporting de emisiones de alcance 3 y la expansión de estrategias ambientales hacia aspectos como la biodiversidad y el agua. Se aborda la necesidad de compromisos de neutralidad de carbono y la importancia de la reducción de emisiones y la consideración de opciones de eliminación de carbono.
🔍 Responsabilidad y Transparencia en la Cadena de Suministro
Se discute la importancia de la responsabilidad y transparencia en la cadena de suministro, con un enfoque en la necesidad de colaboración entre departamentos y la integración de la sostenibilidad en la operación diaria de las empresas. Se destaca la importancia de la Directiva de Informe de Sostenibilidad Corporativa (CSRD) de la UE y el concepto de materialidad doble, así como la expectativa de un mayor intercambio de datos en la cadena de suministro para rastrear el progreso en la sostenibilidad.
🌟 Progresos Esperados en Sostenibilidad Corporativa
Se establecen las expectativas para un 2024 exitoso en términos de sostenibilidad corporativa, incluyendo la preparación para las divulgaciones SG obligatorias, la creación de estructuras de recopilación y reporte de datos, y la mejora en la capacidad de las empresas para involucrar a un mayor número de proveedores de manera cuantitativa. Se espera un progreso en la descarbonización de las redes eléctricas y en la reducción de emisiones en sectores clave como el acero, el aluminio, los plásticos y los electrónicos.
Mindmap
Keywords
💡Cambio climático
💡Transición verde
💡Elecciones políticas
💡Tecnologías de baja emisividad de carbono
💡Industrias pesadas
💡Captura y almacenamiento de carbono (CCS)
💡Estrategias de neutralización de carbono
💡Valor cadena
💡Directiva de informes de sostenibilidad corporativa (CSRD)
💡Biodiversidad
💡Estrategias de reducción de emisiones
Highlights
2023 saw record-breaking climate events, including the highest global average temperature since records began.
Significant progress was made at COP, with numerous initiatives, policies, and regulations announced and enacted.
The US, UK, EU, India, and Indonesia are among the large emitters with elections in 2024 that could impact climate policy.
If Donald Trump wins a second term in the US, there could be a withdrawal from the Paris Agreement and rollback of environmental regulations.
The UK's potential election could see a shift in climate policy, with the Labour party intending to fully decarbonize electricity by 2030.
EU Parliament elections in June will determine EU climate policy for the next 5 years, possibly setting a 2040 emissions target.
India's elections are not expected to change climate policy significantly, as the BJP and Modi government are likely to continue.
Indonesian presidential candidates have pledged to push for more progress in tackling the climate crisis.
The outcome of elections can be unpredictable in terms of their impact on climate policy.
Elections are crucial for determining powerful leaders who can influence the path to Net Zero goals.
International cooperation is key in the fight against climate change, requiring aligned collective goals and shared responsibility.
Low carbon technologies are critical for reaching Net Zero, but progress in heavy industries like cement and steel is crucial.
Technological innovation in heavy industries includes both exotic technologies and repurposing from other sectors.
Dr. Chris Bai highlights the potential of batteries and carbon capture and storage (CCS) technologies in 2024.
Scope 3 emissions and value chain reporting have become a focus for companies, moving beyond just internal operations.
The EU's Corporate Sustainability Reporting Directive (CSRD) will bring significant changes to non-financial reporting.
Data exchange across value chains is expected to increase in 2024, with a focus on capturing progress in emissions reductions.
A successful 2024 in corporate sustainability would involve readiness for mandatory ESG disclosures and improved data collection.
Transcripts
[Music]
welcome to greenomic a podcast from
Oxford economics where we delve into the
complex relationships between climate
nature and our global economy I'm your
host Sarah Nelson and the economics and
sustainability team here at Oxford
economics and together we'll be
navigating the changing landscape of the
green transition each month we will be
joined by a panel of experts to discuss
one aspect of sustainability and unpack
what it means for businesses in today's
economy 2023 smashed a lot of climate
records we had the highest global
average temperature since records began
at almost 1.5° C above pre-industrial
averages we also had the biggest ever
cop with some notable progress made and
saw lots of initiatives policies and
regulations announced and
enacted now it's time to look towards
2024 I spoke to three guests about the
sustainability Trends to keep up with
this year across politics technology and
business the First theme that we're
going to look at today is politics 2024
brings a huge number of Elections and
with it a high potential for political
change joining me to discuss what that
might mean for sustainability is beatric
tanhan Bayer is a senior Economist and
our climate scenarios and modeling team
and has a finger on the pulse of how
politics might affect our climate
trajectory be thank you for joining me
thanks for having me back so a couple of
elections coming up this year what do
you think uh will be the most impactful
elections in 2024 yeah it's it's a big
year um so we have large emitters like
the US countries in the global North
like the UK and the EU and countries in
the South like India and Indonesia so in
the US Donald Trump is the Republican
front runner and if he wins a second
term there would be significant shifts
in policies the United States would
probably exit the Paris agreement again
and Trump might try to roll back
environmental regulations that the Biden
Administration issued and Congress might
also cut off climate spending in last
year's inflation reduction act however
the odds are that the tax credits for
the clean energy investment in the ira
would remain because these are quite
difficult to end or scale back now if
Biden wins he would likely support
climate initiatives but how successful
he would be in passing these initiatives
would depend on who controls the house
and the Senate
now across the pond we have the UK who
might have an election this year and
there's a bit of a gap between the
conservatives who are likely to dial
back climate policies and labor who
still have plans to invest in a large
sum of green projects so labor still
intends to fully decarbonize electricity
by 2030 so this would still require some
investment now we also have the EU and
voters will head to the poll in June to
elect the next EU
Parliament and this will determine EU
climate policy in the next 5 years the
last few years saw climate ambition
increase and the next year will be all
about seeing this true and perhaps
raising ambition so for example this
would be like deciding what the 2040
emissions Target should
be we also have important elections in
India and Indonesia and these are both
large economies big populations and top
emitters India is actually one of the
top emitters in the world following the
US and China but in India elections are
probably not going to change climate
policy they because we expect the BJP
and Modi government to continue now even
though the contesting parties haven't
released a formal stance climate
policies might not actually be top of
mind for India because at their
development level there are a lot of
other issues to talk about so climate
might actually take a backseat here um
in Indonesia which is another big one
particularly with emissions from land
use and
agriculture fortunately all candidates
in the country for presidency have vowed
to push for more progress in tackling
the climate crisis
so they generally believe the country
should shift away from fossil fuels
which is really good on a whole climate
might necessarily be the biggest concern
for all elections but it's entered most
conversations have a big impact on
climate policy and the way
forward so are there any of those
elections that you mentioned that you're
particularly concerned about from a
climate perspective yeah um so for from
all of these elections the most high
stakes one might be the US election it's
just that the dividing lines on climate
are simply bigger in the US um so and
they're also the world's second biggest
polluter and there's a big chance many
of the steps forward might be reversed
and this would not be good for morale or
for getting things done and if you
compare that with the UK who might go
into an election while the conservatives
are thinking of dialing back ambition
the direction of travel is still the
same and the country still hopes to
reach Net Zero so that's a big big
difference so a good caveat to note is
that these elections are not that good
at predicting what what will happen in
climate policy so for example in the
Brazil election of the Lula the Silva
where he won over
bolsonaro whose term weakened
Environmental Protection policies Lula's
win signaled a change in Direction but
so far they've really struggled to go
strong on climate and it looks like
they'll be going into the oil business
and on the other hand people were
worried that in Argentina they elected a
candidate who was skeptical on climate
but he introduced a cap and trade system
this year so it's really the elections
really don't necessarily signal the
direction climate climate policy would
take but it's always like um it'll
always be like a nice surprise
so I mean like you say it's hard to
predict but how important is this year
in these elections
for our Net Zero
goals well these elections will
determine some of the world's most
powerful leaders in the next five to six
years depending on the term and these
years are crucial because within that
time span we approach 2030 and 2030 and
2050 are important years in our climate
calendar so to speak because we expect
the carbon budget to run out around that
time so we need Leaders with the same
sense of urgency as we do now these
elections are also important because
some of the most important work we do in
our fight against climate change will be
done at the national level so this means
getting better at implementing
commitments so the cops are there to
provide Direction but the real work
begins at home now if we have a say a
climate denier leading one of the
biggest economies with a biggest source
of emissions it would be difficult to
reach a collective goal and I guess
another way politics influence climate
action is that it's all about
consistency in the messaging so many of
the Investments we need for climate are
long-term Investments they have a
long-term investment Horizon so ideally
for this to happen policies need to be
stable and if we don't want a lot of
uncertainty in terms of the business
environment so for example we don't want
subsidies and tax breaks to suddenly
reverse if a if a car manufacturer
invests in developing EVS they don't
want the subsidies that make these EVS
more competitive to go away so electing
members of government to support climate
Ambitions reduces kind of uncertainty
and it can help with the
transition and what about International
cooperation well it's important that we
work together because we work together
we get things done faster um
International cooperation is difficult
when everyone's interests are different
and they do not align let alone they're
contrary to one another so if we elect
governments that do not believe in this
cost it'll be difficult to like raise
ambition and it might even set us back
but um being aligned in our Collective
goals is important because we keep each
other in check so the ndcs or the
nationally determined contributions are
self-determined goals but it's the
pressure from our peers that keep us in
line so it's like other countries act to
Ser as a check against other countries
so it's good that we're all thinking
same thing and another reason why
International cooperation is important
to do is um for climate Finance so we
need everyone to mobilize the funds we
need for the transition particularly to
help developing countries the financing
that we have so far is limited and we
need to basically pull our resources to
make sure that it us efficiently and
effectively we need public and private
Capital to move towards Greener projects
and we need the larger and wealthier
economies to contribute and to buy in
and they need to incentivize investment
in the necessary sectors but in general
the fight against climate change is um I
consider a group effort so emissions in
one country is the same as emissions in
another country it all goes to the same
place it all pulls together
so this is a global problem and we have
a shared Global responsibility to answer
it and it will definitely need a global
effort and presumably like-minded global
leaders exactly well quite a year ahead
um and looking forward to checking in at
the end of the year to see how that's
all gone thank you very much for joining
me bear it's been really interesting to
talk thanks our second theme today is
technology low carbon technologies will
be critical for reaching Net Zero and
rightly get a lot of attention as a
result so but some of the most touted
Technologies remain elusive I'm joined
today by Dr Chris Bai to find out where
the biggest progress might be made in
2024 Chris is an expert in the
Technologies and policies for achieving
sustainable energy systems he leads
research with the Deep decarbonization
Pathways project at Simon Fraser and
Columbia universities and was a lead
author on the most recent ipcc
assessment report Chris
thank you for joining me my
pleasure so as I mentioned a lot of the
decarbonization Technologies are
headline grabbing I'm thinking electric
vehicles wind turbines carbon capture
and storage but a big chunk of the
emissions reduction will come in the
less sexy heavy Industries like cement
and steel Chris I believe this is your
area of expertise so what are the
technologies that show the greatest
promise for decarbonizing heavy
Industries that's a great question uh
about a third 30% of global CO2
emissions come from heavy Industries so
that's steel cement chemicals and other
heat um all three of those have you know
right up front if we're just a little
bit if we're a little bit more careful
about how we use them we use about 20 to
30% of all more than we really should
have all 30 if we just think about those
the initial design so that's the kind of
first 20 30% we look for but each of
them also has a fairly simple op option
with steel it's just using more SEC
doing more secondary recycled steel and
that means more carefully sorting the
scrap we have putting a little extra
fresh iron in with it and then making as
much steel as we can in electric art
furnaces but beyond that we get into
much much more exotic Technologies we
have a couple of commercial options
today uh it's a technology developed in
the 1970s called direct reduced iron um
it requires um the way it's done today
is made we use methane or coal to create
a Singas of hydrogen and carbon monoxide
the hydrogen takes away most of the
oxygen and iron ore leaving the
elemental iron which is where most of
the emissions come from um and then the
carbon monoxide takes provides much of
the heat but there are options to do
entirely hydrogen-based drri making uh
and you know that that's the pathway
most of the European steel makers are on
right now uh we've talked about applying
ccs to to Steel for about 30 or 40 years
it really it hasn't go gone uh anywhere
after drri we're probably looking at
electrolysis Technologies where we
directly use electricity to take oxygen
off off of iron or leaving Elemental
iron there's several Technologies to do
this several companies doing this on
both sides of the Atlantic and and in
China and I think one of them is going
to surprise us sooner or later they
manage to get they manage to get to a
pilot scale and then to a commercial
scale cement it's again there are cheap
options we can eliminate about half the
emissions by substituting what we could
clinker is the stuff that it's the main
component of cement which holds together
sand and concrete which is the glue that
holds concrete together think of Rice
Krispie squares where the marshmallows
hold the Rice Krispies together um it
most of the emissions are in the cement
and they're in the clinker making and we
can substitute about half that clinker
with ground Limestone and Cal what we
call caline Clays and that could cut
emissions in half by 2030 using it it
meets building codes today but we just
have to build the equip and find the
Clays and what have you um after that
you start needing car carbon capture and
storage on the back end we've got a
couple plan there's one should be
finished in Norway this year 60% capture
um there's a couple that are at much
higher capture rates that should be done
by about 20 25 2026 they double the cost
of making clinker but they only add a
couple of percent to you know at you
know to the concrete and the cost of
making a building U and that's something
that needs to that needs to move quicker
in the wings we have more exotic
Technologies to make cement so there
Sublime that uses electricity to make
the make the the key mineral that we
need and brimstone which uses acid
leeching to get out the minerals we need
to make cement and those two there's
those two are probably the most public
facing technology companies right now
but there are a couple of European I
think Asian companies working on this as
well one of the and in 2023 one of the
things that kind of jumped out Out
jumped out and surprised everyone is we
thought that lower temperature heat was
going to be really expensive so Steam
for food processing textiles what have
you um but a couple of tech companies an
Tor and I believe Rondo in the US and I
think there other companies as well they
just basically use ex bricks ceramic
bricks and you heat them with excess
solar and wind electricity when it's
available and then you run a a heat
transfer fluid through to get the heat
out and that gives you as much Steam and
often uh you know the the the the the
the higher temperatures that you need to
do CH chemistry and what have you so
those those are two things that we're
watching Pretty carefully probably the
sector that's going to be hardest is
chem is chemicals there are seven big
feed stock chemicals that make over that
are the subcomponents for making over a
100,000 different chemicals there you
know in most societies only need so much
steel only need so much cement only need
so much heat but what we don't seem to
satiate on is chemicals especially
Plastics we just use more and more of
um the key to doing that is to
decarbonize the the the the carbon
hydrogen oxygen that goes into those
Plastics but we're a bit of a ways away
from that and it's going to be quite
expensive to do it we know how to do it
in the lab but we don't know how to do
it commercially so if someone's got some
bright ideas out there about how to make
ethylene how to make ethylene at room
temperature with non-toxic materials
they could probably build a business out
of
that I think one of the really
interesting things about what you've
just said is that there the sort of
technological innovation in these sector
seem to be a combination of the Exotic
Technologies and the kind of repurpose
Technologies from other sectors and and
historical context which I think is
fascinating are there any Technologies
or particular Industries or sub sectors
that you think are on the cusp of major
progress in
20124 uh I really hope um that the
batteries come along in 2024 we see
those heading into the marketplace
because over 30% of our industrial heat
needs is you know roughly about 100
degrees Celsius just for steam a little
bit above that and they're perfect for
that so if we started seeing those
penetrate the market that could really
make our lives simpler using uh you know
off PE off peak electricity I really
hope we see CCS on cement plants this
year
operating um I hope we with steel I want
to we want to see some final investment
decisions on more primary facilities um
I'd love to see Boston medals in the
states actually get its first you know
pilot plant off the ground in Brazil um
those those are the things I'm looking
for but I'm always happy to see upside
surprises well we will check back with
it you in December to see how your
predictions have panned out so no
pressure uh but thank you very much for
joining me Chris and we'll touch base
later in the year my pleasure Sarah
finally return to business 2023 saw
several major pieces of Regulation come
into Force along with lots of new
Frameworks and Industry groups but we
also saw a push back against ESG from
some Corners I have Dr Anna Gonzalez
Hernandez on the phone to discuss what's
on the cars for businesses in 2024 Anna
is director of sustainability at Emison
where his she has been leading the
company's Net Zero strategy and
coordinating their ESG disclosures for
the past 3 years Anna thank you for
joining me happy to join you on the show
today reflecting on 2023 what do you
think was the biggest Trend or challenge
in sustainable business over the last
year I think as as most sustainability
professionals would uh would know I
think it's a little hard to to pick a
few uh but I I'd say that uh in the
topic of greenhouse gas emissions
specifically there's been a shift around
the world I think towards scope three so
our our value chain reporting um in our
case uh you know we we started our
journey in 2022 with with our Net Zero
value chain emissions that were set and
so we've been calculating and modeling
our scope 3 emissions now for a number
of years um which I think is what most
companies have been doing um but I think
initially a lot of the focus had been on
driving actual tangible improvements in
uh company's own facilities whereas now
everyone is putting a lot more effort
intentionally into engaging their value
chain Partners um to build capacity in
their supply chain um to help them
improve their data um and sharing best
practices because at the end of the day
we all have to show progress across our
entire value chains if we want to meet
our our targets so I think that kind of
scope three uh and um kind of outward
focused um efforts have been um
expanding over the past year for most
companies um I think also there's been a
shift towards um thinking more about the
impact that corporations have on
biodiversity and and uh vice versa you
know how how biodiversity and and nature
um impact um our ability to do business
in the future um and I think more
broadly uh the broadening of the scope
of environmental strategies in companies
I think a lot of us started very focused
on emissions and energy perhaps looking
at waste in our own operations too and
now we're
exploring the relevance of other
environmental aspects um such as water
and and biodiversity which um gets a lot
more uh complicated frankly um and I
think the last thing maybe is is the
focus around uh the net in Net Zero
commitments um I think at least in our
case but I think for many companies it's
it's the same um and increasingly more
so uh we are focused on reductions um at
first uh but we're having to get our
heads around around what carbon removal
um means and the options that are
available out there for us because even
if it's something that we will have to
be working on in the next couple of
years um we do need to start making
upfront um commitments now uh to ensure
that there's uh Supply uh in the in the
next couple of years so I think most of
us are now having to Think Through what
our neutralization strategies may look
like it sounds like I mean that shift
from scope one and two to scope three
three and looking at a broader nature
challenges um along with the kind of
offsetting uh question itself it sounds
like you know it's getting more and more
difficult or these are are bigger and
broader and more complicated challenges
so what do you see as the key priorities
going
forward so I I think I I would like to
focus on on three things I think going
into a topic that you've discussed here
before uh related to disclosures um it's
a very predictable and unsurprising
topic I think for for people in our
field um but you know more specifically
eu's the eu's corporate sustainability
reporting directive which is the first
and I think most comprehensive version
of this that companies are facing today
um you know it brings non-financial
reporting to the same auditable level as
financial reporting and it's a
gargantuan task for most companies to to
even start thinking about how it's going
to be imp implemented um I think in the
case of csrd to um the concept of double
materiality is providing companies with
A New Perspective um by forcing them to
think about the impact in multiple
directions um not just in terms of how
ESG topics impact a company's financial
performance but also how a company
impacts ESG um and I think you know for
for my own sanity maybe I've had to keep
reminding myself about the end goal uh
of these regulations and what they're
trying to drive towards and not the
immediate task that we have at hand in
the next 12 months to get ready for this
reporting which for us will be in 2026
given that we're not EU listed um and
you know I I think thinking that the
impact of these disclosure policies is
really in how they will change how
companies operate they'll have to think
about targets actual strategies um and
and the hope is that even though the the
regulations are on Communications and
external reporting um it'll have a
ripple effect on on how on how companies
actually operate and and how they think
about their their future and and and
their role in in this space so I I think
these are are really important even
though a lot of us are very
frustrated um with having to think about
how we're going to implement them um and
related to that the second point I think
what csrd and ESG disclosures in general
are triggering to is an increased
collaboration across
departments and I I think within the
sustainability profession we've always
known that sustainability is a cross
functional and
transformational um issue um but I think
today we are starting to see that partly
thanks to these ESG Broad regul ations
um sustainability is permeating other
departments that maybe to date haven't
been as impacted or or engaged um
sustainability teams and are bigger and
better integrated in into organizations
than they used to be even two years ago
um but I think regulations are really
pushing um other departments like
Finance internal audit legal it Human
Resources um investor relations uh to
really have to fly information if we
want to succeed in this um um and I'd
say maybe the the third and last topic
um would be touching on on supply chain
and um being held accountable for our
supply chain CSG performance which in a
way relates back to disclosure again
because the EU is is also forcing
companies to report on their entire
value chain efforts and not just our own
um and to think about materiality across
our entire value chain and not just our
four walls um and I think you know going
back to what I was
saying earlier we we have a lot of
companies have started reporting on
scope 3 emissions but these have been
based on models um on industry average
data um which in some cases remain um
you know not really representative of
what your supply chain looks like but
also you know as years pass and we have
to all show progress on our targets we
have to really work with our suppliers
to make sure we can capture their
progress in our numbers and so I think
in 2024 there's going to be a lot more
data exchange across value chains um I'm
kind of hopeful that the data exchange
will also not just be in One Direction
Where suppliers provide their customers
with Upstream emissions data but that
our customers also provide us as
suppliers with their information because
at the end of the day you know the the
the targets cover both directions of our
value chain and the progress has to
happen in both directions and um it's
it's common to have customers requesting
things of suppliers but maybe the other
way around is less um is less common um
so I I think that data exchange um and I
think across the board I mean I'm
focusing on emissions here because it's
I think where most companies are are
putting their efforts now at given their
commitments but I think it'll be across
the board there's going to be a lot more
data exchange um at least I hope
so and so what would a successful 2024
look like when it comes to to corporate
sustainability I think I'd probably say
it's one where we're ready as
organizations um for the mandatory SG
disclosures that we have to comply with
um where we set up the right data
collection and Reporting foundations
which will be a big challenge for many
companies and also the governance
structures I mean ESG isn't a single
bucket of topics and so figuring out who
is responsible for what um is is going
to take take um time and and um and
thinking um I think it'll be one where
um on the supply chain front um we do
start to be able to as companies broaden
our ability to engage more and more
suppliers and do so in a more
quantitative way um reflecting their
progress in our in our in our reporting
by collecting primary data for the first
time we continue to see progress in the
decarbonization of electricity grids
which is an area that uh most companies
rely on to make their progress uh as
well as progress in in key materials
like steel aluminium Plastics
Electronics uh which a lot of companies
use to to build their products and
consumers use in their daily lives so I
think really seeing emission reductions
and overall sustainability progress in
those um energy and material sectors
will be key in in the next year well
that touches nicely actually on what we
covered uh earlier in the podcast on
sort of policy progress in 2024 and
Industrial decarbonization so I also
hope we get to see all those things
coming uh over the next 12 months Anna
thank you very much for joining me today
um and for sharing your insights from
Amon thank you for having me thank you
to all our guests and to you the
listeners for tuning in to this episode
please do subscribe on Spotify
SoundCloud or on our website and feel
free to write to us at podcast Oxford
economics.com
that's it for today on greenomic from
Oxford economics where we know that
money might make the world go round but
sustainability makes it a much nicer
place to live see you next time
Weitere ähnliche Videos ansehen
El futuro de la industria pesada - ¿Podrán reducir sus emisiones de CO2? | DW Documental
podcast: materia de negocios internacionales y diferencias culturales
50 and Beyond
TEM. 2 CAP. 5 Infraestructura requerida para la electromovilidad en México
Temp. 3 Cap. 3 Smart Grid en la electromovilidad
¿Qué es la SOCIEDAD, cómo se conforma y qué tipos hay? (Y sus características)🙋
5.0 / 5 (0 votes)