Grace Womersley, BELIEVE..
April 2024
As awareness spreads about our’ impact on the environment, businesses and consumers alike are placing a larger emphasis on reducing their carbon footprints. Not only does “going green” benefit the environment, but it also improves the financial health and risk profile of a company. Simple, cost-effective switches can improve employee satisfaction rates and make businesses more attractive to consumers and investors.
Know your starting point.
What is a carbon footprint? Put simply, a carbon footprint is the best estimate of the total amount of greenhouse gas emissions produced directly and indirectly by a business. This can range from emissions produced during the manufacturing of a product to the electricity consumed by a company to facilitate its daily operations. Emissions fall into one of three ‘Scope’ categories. Many websites offer a ‘Carbon Footprint Calculator’, and once you have a starting point, it’s easier to identify where the most impactful changes can be.
WHY SHOULD BUSINESSES CARE?
- 81% of consumers felt strongly that companies
should be actively taking steps to help improve the environment - 73% of office workers want their employer to
improve its green credentials - Environmental credentials are incredibly important for prospective employees, with nearly 1 in every 4 people saying they would refuse to work for a
‘The Guardian’
‘The Guardian’
SCOPE 1, 2 AND 3 EMISSIONS
- SCOPE 1 emissions are direct emissions from company-owned and controlled resources – for example running its boilers or vehicles
- SCOPE 2 emissions are indirect emissions associated with the generation and purchasing of energy, heat or steam. These emissions occur at the facility where the electricity, heat or steam is generated rather than at the company’s own facilities.
- SCOPE 3 emissions include all other indirect emissions that occur in the value chain of a business. It includes emissions from employee commuting, waste disposal, business travel and the purchasing of goods. Typically, Scope 3 emissions account for more t
8 Simple steps to reduce your corporate carbon footprint
In practice, making a shift towards being a greener company may seem complex at first. However, it’s all about the small changes that make a big difference.
1. Going renewable
One of the easiest ways is for businesses to switch from fossil fuels to a renewable energy source. Many energy providers offer renewable energy solutions that are backed by “REGO” certificates (Renewable Energy Guarantee of Origin), guaranteeing that the origin of the energy supplied is renewably sourced. Embracing energy efficiency can also deliver energy saving costs. Renewable energy is now cheaper than fossil fuels and they’re only set to get more affordable.
Minimising unnecessary waste, reusing when possible and recycling materials such as metal and plastics all helps to reduce the amount of waste that ends up in landfill. Rotting waste in landfill produces harmful greenhouse gases that contributes towards a business’s carbon footprint. By providing recycling bins for different materials, businesses can lessen their impact on the environment
3. Going paperless
With the technology we have today, there’s no need to be keeping paper records anymore. Already traditional mail has been replaced with email, and it’s not difficult to replace other paper processes with electronic processes.
4. Reduce electricity
Minimising unnecessary waste, reusing when possible and recycling materials such as metal and plastics all helps to reduce the amount of waste that ends up in landfill. Rotting waste in landfill produces harmful greenhouse gases that contributes towards a business’s carbon footprint. By providing recycling bins for different materials,
businesses can lessen their impact on the environment
5. Reduce travel
Depending on what industry you are in, it may be worth considering switching to hybrid or fully electric company cars or fleets. Car manufacturers are making huge investments into developing their electric models and consequently electric vehicles are becoming more affordable. Moreover, companies should look to encourage alternative travel to flying; such as taking the train, as flying is the most carbonintensive form of transport.
6. Educate and engage employees
Education is crucial to ensure all the analysis and planning carried out to make businesses go greener goes through successfully. Hosting workshops, listening to new ideas and sharing success stories can all motivate businesses to keep reducing their carbon footprint and encourage employees to get on board with environmental efforts
7. Reduce commutes
The carbon emissions from employees work commutes is included in a business’s Scope 3 emissions. Encouraging employees to think more consciously about their travel choices can have a large impact. Whether that’s implementing a work-from-home policy or incentivising employees to cycle into work or use public transport, there are many ways to slash emissions produced by commuting.
8. Offset your carbon
Carbon offsetting is the process of compensating for emissions by taking part in activities that reduce the equivalent amount of carbon dioxide in the atmosphere; such as replanting trees. However, offsetting should only be used to compensate for emissions that can’t
be reduced, not as an alternative to implementing practices to reduce emissions.
9. Invest in technology
Companies may invest in various innovative technologies, such as blockchain technology to streamline their operations, enhance security, or explore new business models. For instance, some companies are integrating blockchain into supply chain management to increase transparency and traceability.
Other companies are investing in advanced robotics to improve efficiency and productivity in manufacturing, logistics, and other sectors. These robots may be used for tasks ranging from assembly and packaging to warehouse automation. Furthermore, companies can leverage Virtual (VR) and Augmented Reality (AR) technologies to enhance customer engagement, create immersive experiences, digital twins for training, piloting and education purposes.. For example, retail companies may use VR to allow customers to visualize products in a virtual showroom.
10. Invest in innovation
Companies are increasingly embracing open innovation models, which involve collaborating with external partners, such as startups, universities, and research institutions, to co-create new products, services, and technologies. This approach can accelerate innovation and expand companies’ access to diverse expertise and resources. Participating in Industry Consortia or Alliances: Companies may collaborate with competitors, suppliers, and other stakeholders through industry consortia or alliances to drive innovation, develop industry standards, and tackle common challenges. These collaborations can lead to shared research and development initiatives and the co-creation of new technologies and solutions.
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