An increasing number of businesses are looking to reduce their emissions and become sustainable to align with the government’s net zero strategy. Setting targets is crucial for companies with complexity across sectors, technologies and business structures.
This paper, in partnership with Shoosmiths, explores the potential routes to decarbonisation that businesses have at their disposal to meet their targets and help countries meet their net zero targets.
Key findings of the report:
- Pressure for businesses to adopt net zero is both bottom-up and top-down
- Successful approaches will be shaped by location, scale, and exposure to different vectors.
- Best practice sharing and cooperation may unlock faster progress.
- Green supply is attractive but beware of greenwashing
- On-site generation works for businesses with physical space and access to up-front capital.
- Corporate PPAs are for creditworthy businesses, but the market is ripe for innovative partnerships
- Businesses need to be assertive and proactive
Achieving net zero is a collective journey
A coordinated whole system approach is key to reaching net zero. Governments should provide a stable and specific regulatory environment, providing the private sector with the certainty needed to make long-term investment decisions.
However, all businesses have essential responsibilities. Large corporates can lead by example, showing concrete decarbonisation paths to their suppliers to drive change. An open dialogue is fundamental so that companies can properly support each other in their net zero journeys.