Net Zero is vital but focusing only on emissions limits opportunities for positive change (Guest blog from FuturePlus)
Guest blog by Mike Penrose and Alexandra Smith, Co-Founders and Partners at FuturePlus. Part of techUK's Climate Action at COP28 Campaign Week 2023.
If you only focus on carbon emissions, the risk is that you can have substantial negative social and environmental consequences
GOING BEYOND EMISSIONS MEASUREMENT
While measuring emissions across scopes 1, 2, and 3 is critical for understanding an organisation's climate impact and making the crucial steps towards NetZero, we must broaden our perspective. Sustainability is not just about reducing carbon emissions; it's about acknowledging the broader impact an organisation has on the world and ensuring that environmental, socio-economic and, diversity and inclusion factors are central to sustainability efforts. The risk otherwise is to miss the essential drivers and incentives for developing a socially and environmentally responsible business.
Sustainability should be comprehensive, addressing a multitude of challenges and changes. This goes beyond 'carbon tunnel vision,' which can lead organisations to prioritise emissions reductions at the expense of other aspects of sustainability. Protecting terrestrial and marine ecosystems, managing forests sustainably, reversing land degradation, halting biodiversity loss, and reducing waste and pollutants are all vital. Moreover, human and worker rights and equitable social inclusion should all be integral to a sustainable future.
A FOCUS ON AMBITION
Sustainability is not a one-size-fits-all concept. It's about understanding the consequences, compromises, and interconnected aspects of a sustainable future. Our vision for a better future requires all companies to contribute to meaningful and effective social and environmental change regardless of size or circumstances. We recognised that many businesses, particularly SMEs, needed help assessing their business's current sustainability and help to understand and develop a roadmap of ambitions to get them to where they would like to be. To bridge this gap, we introduced FuturePlus, a SaaS platform, in November 2021.
FuturePlus is a game-changer in the sustainability landscape. It’s a sustainability and ESG management and reporting platform that works with companies of all sizes. It empowers organisations to understand, measure, evidence, improve and report their sustainability and social impact across a comprehensive view of an organisation's sustainability and measures indicators across five themes;
- Climate
- Diversity & Inclusion
- Economic
- Social
- Environmental
Uniquely, we not only verify the actions that an organisation has taken, but we also quantify an organisation's intent across the five themes. We then track and support their progress as they improve. To help aid this, we equip them with the tools and expert support necessary to achieve their ambitions, chart their progress and communicate the improvement.
Furthermore, it offers a chance for businesses to integrate sustainability as a central component in their decision-making processes. It encourages deliberation on the trade-offs between social and environmental benefits, with the possibility of achieving a positive impact in both domains or making a strategic choice based on alignment with your values, objectives, and broader business strategy.
Plus, all organisations, and not just the ones with sustainability at their core, should have the opportunity to demonstrate their commitment to more sustainable practices, as well as access to support and guidance to create a more positive impact.
‘LIVING’ QUESTION SET
Understanding where you are and should be is key, but remaining ahead of the curve as sustainability standards, innovation, and expectations evolve is also essential. Organisations need to plan for emerging environmental and social challenges proactively and to ensure those we work with are always one foot forward, the FuturePlus platform has a dynamic 'living' question set that frequently evolves to align with changing stakeholder expectations, industry precedents and emerging technologies, ensuring your sustainability plans and ambitions stay at the forefront of progress.
“We see a business’ sustainability strategy and growth as an ongoing and continuous process, rather than one that reaches a threshold and then is forgotten about for a number of years,”
“We’ve developed a dynamic solution that goes beyond traditional ESG reporting. We periodically update the FuturePlus assessment with new and amended questions to reflect the most critical areas of sustainability innovation and development. This is necessary to allow businesses we work with the opportunity to constantly evolve and improve their actions and ambitions in the fast-changing world we live in today.” reveals FuturePlus co-founder Alex Smith.
CONSTANT IMPROVEMENT
In conclusion, sustainability is a multifaceted endeavour. While carbon emissions measurement remains crucial, we must avoid tunnel vision and address a wider spectrum of sustainability challenges. Embracing diversity and inclusion, understanding socio-economic impacts, and safeguarding ecosystems are as integral to building a resilient and equitable business ecosystem as measuring and reducing your carbon footprint.
Sustainability is not a one-time achievement but an ongoing journey. FuturePlus, with its dynamic 'living' question set, ensures that businesses are constantly adapting and improving in our ever-changing world. It's time to look beyond carbon emissions and embrace the full spectrum of sustainability for a better and more prosperous future for all.
FuturePlus is for every business, not just the 1%. If you’d like to find out how FuturePlus can benefit your business, email [email protected]
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