Net Zero Plan

Five steps to build your credible Net Zero Plan

As the world wakes up to the consequences of climate change, there is increasing pressure on companies to commit to net zero emissions. In the UK, FTSE 100 companies are now required to disclose their decarbonisation plans to achieve net zero by 2050, yet only five of these companies have shared detailed plans to meet their carbon reduction requirements. This gap shows that there is still much work to be done in terms of educating and encouraging businesses to develop sustainable strategies.

Five steps to build a credible Net Zero Plan

At 51toCarbonZero, we’ve created a five-step framework that can help companies build a credible Net Zero Plan quickly. Our framework is based on years of experience in business transformation, combined with climate expertise. Our SaaS platform supports each step of the journey to accelerate your climate success. Let’s dive into the steps.

Measure
You can’t manage what you can’t measure. Collecting comprehensive and accurate data is the first priority in reducing a company’s carbon footprint. By following industry best practices, such as the GHG Protocol guidelines, businesses can establish a baseline of their carbon footprint. We recommend using activity data to review a company’s total footprint, instead of spend-based measurements. This will ensure you an accurate and actionable Total Footprint. Regular data collection, at least for key hotspots, will help track progress of any reduction initiatives once the Net Zero Plan is in place.
Focus
By using interactive dashboards to forecast changes in operations, such as transitioning from fossil fuels to renewable energy sources, companies can identify their carbon emission “hotspots.” Focusing on these hotspots is essential because, as we’ve seen with our clients, 80% of a company’s impact usually comes from 20% of the hotspots. By identifying where the biggest reductions are both required and achievable, companies can define the structure and timeframes of their Net Zero Plan.
Hotspots are often recurring across industries, and we have mapped in detail hotspots across all key verticals. A very interesting one is the digital media ecosystem, where billions (!) of data queries happen every minute across a very complex and large value chain, generating vast amounts of Co2. We know the hotspots of how each player in that value chain – from publisher to ad tech, to agency – and how to implement effective decarbonisation.

Commit
Publicly committing to net zero is a powerful catalyst for taking action and increasing accountability. On the other hand, by remaining quiet about your net zero commitments – a phenomenon called greenhushing – means you risk missing out on talent, investment, and customers who want to work with companies that prioritise sustainability.
Activate
It’s time to take action and implement initiatives outlined in the Net Zero Plan. Each team and department in the organisation must understand their role in achieving the company’s net zero goals. Accountability and governance might not be the two most exciting words, but they are absolutely critical to success. There must be a clear mechanism to agree on individual and collective responsibility, achievement of milestones and an accurate tracking of progress. The report back to stakeholders must identify areas where the C-suite may need to intervene.
Engage
Decarbonization is a team effort. Engaging all departments within the company is essential. Interestingly, ESG professionals quoted lack of support from accompanying business functions as the number one barrier to decarbonization. It is essential to invest in engagement, through clever functions and features such as those included in our 51toCarbonZero platform (e.g. gamification), but also face to face events and other engagement initiatives. External engagement with suppliers and the wider value chain is critical in influencing and encouraging others to take action against climate change. Our platform allows sharing of objectives and activities between the client and their key suppliers. This helps engagement and accountability.

How can 51 to Carbon Zero help with your Net Zero Plan?

At 51toCarbonZero.com, we understand that reducing carbon emissions and achieving net zero can be challenging. We have identified 5 crucial steps that companies need to take in order to deliver a Net Zero Plan. These five steps are supported by our SaaS platform, which makes it easier for businesses to track their footprint, develop a credible action plan and deliver across the organisation.

To find out more about how you can achieve your credible Net Zero Plan, please contact: neil.parker@51tocarbonzero.com

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