Did you know that while over 50% of Fortune Global 500 companies have a climate commitment, only 5% have a clear net zero goal for 2050 or earlier? That's less than 30 companies! If you work at one of these companies YOU can fix this 馃Уfrom #VERGE22 @GreenBiz on what to do 鉃★笍
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The @SpeedandScale plan is made up of OKRs: 10 objectives & 55 key results. We set a KR to track the commitments companies were making towards net zero. We went to *every* Fortune Global 500 company's website & dug into their ESG reports and PDFs. We found a few patterns...
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The three issues we found were: 1. Missing Scope 3 or have defined it down 2. Don鈥檛 cover all greenhouse gas types, only carbon 3. Don鈥檛 specify their carbon removal strategy Without these, you do not meet the @IPCC_CH definition of net zero. What to do? Set a clear goal 鉃★笍
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Setting a clear net zero goal is simple! The road to net zero is going to be hard. But with a clear goal, every employee, every supplier, and every consumer knows what you are aiming for.
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Getting to net zero is going to require a transformation of our entire society. The playbook for companies 鉃★笍 COMMIT: Set an ambitious goal CUT: Eliminate emissions by picking cleaner alternatives CONSERVE: Invest in energy efficiency REMOVE: Then remove what's left
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But what about offsets? The definition for net zero by the UN and IPCC is anthropogenic emissions balanced by anthropogenic removals. Emissions. Removals. But today, there鈥檚 a lack of high-quality removal options, both nature-based and engineered.
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And other kinds of offsets? Reduction offsets (like investing in a wind farm or cleaner cooking stoves) or protection offsets (preventing deforestation) Definitionally, these don鈥檛 count towards being net zero, but they are critical for the world to get to net zero What to do?
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We need companies to do both Start investing in carbon removal for at least a tenth of a percent of your emissions. Go bigger if you are bolder. If you do, you are a carbon catalyst! Then buy high-quality reduction & protection offsets to neutralize your emissions.

Oct 26, 2022 路 2:57 PM UTC

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"Neutralizing to Net Zero" That's how you take aggressive action to eliminate your emissions while supporting the world's march to net zero. In the end, the goal is clear though: your company's emissions - your company's removal = net zero.
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My ask for you today: Take a look at your company's climate commitment. Make sure it鈥檚 a clear and ambitious one. If you need help, send us a note. Because with the right goals, we can save the planet. speedandscale.com
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