WHOOP OF THE WEEK #14 - COMPANIES GOING CARBON NEUTRAL
Updated: Jun 2, 2021
This week’s whoop goes out to companies taking action against climate change by going carbon neutral.
So what does carbon neutral mean?
Being carbon neutral involves calculating your total climate-damaging carbon emissions. Reducing them where possible, and then balancing your remaining emissions, often by purchasing a carbon offset.
So why is this whoop worthy?
By achieving carbon neutrality means that your carbon dioxide output has a net neutral impact on the environment, and it can help stem the effects of climate change.
And this is good for business, how?
The advantages of carbon neutrality stretch well beyond saving the environment: going green can have a powerful and positive impact on your business’s bottom line. Companies that choose to take action on climate change will see a double whammy of benefits: differentiating themselves from competitors by being good to the environment and reducing costs or improving sales.
Lifetime costs for an electric vehicle, for example, are dramatically cheaper than running traditional petrol and diesel vehicles. Carbon offsetting – buying ‘carbon credits’ to balance your business’s carbon emissions – is cheaper than you might think. And there are reputational benefits that shouldn’t be underestimated.
Give me an example.
The co-op has announced plans to become the ‘world’s first’ supermarket to sell carbon-neutral own-brand food and drink by 2025. The move is part of a wider ten-point climate action plan the company is putting in place to help it achieve net-zero carbon emissions by 2040.
The Co-op’s Ten-Point Climate Plan:
Make long-term changes to how we do business We will be a net-zero business by 2040, for both our operations and for our products.
Set clear short-term milestones We will reduce the impact of our operations by 50% and our products by 11%, both by 2025, in line with climate science.
Rapidly reduce carbon from our operations and products We will take clear, practical steps to reduce carbon from running our business and the products we sell, reporting progress publicly.
Compensate for our climate impact We will take responsibility for our ongoing emissions - our operations will be carbon neutral from 2021 and our own brand products by 2025.
Make lower carbon choices easier for customers We’ll support our customers and members to move to lower carbon lifestyles, starting by price matching between our Co-op own-brand plant-based and meat or dairy-based equivalent.
Direct finance towards reducing carbon We will align our finance, including carbon offsets and pension funds, to support lower carbon investments.
Help suppliers on the climate change front line We’ll support farmers, producers, and communities to transition fairly to a low carbon future.
Campaign for climate action We will be advocating with the Government to press for the necessary systemic change, including a call for greater climate impact disclosure and support for the most vulnerable.
Co-operate for change at scale We will actively work together across our sectors, sharing our plans and solutions, seeking to align rather than compete.
Make our climate plan a priority Underpinning these goals, we are linking the pay of our Food CEO to achieving our carbon reduction targets.
We all know that fighting climate change is a race against the clock – now is definitely the time to put your business on the road to carbon neutrality.
Step 1: Measure your carbon footprint and find out how much you need to offset to compensate for your greenhouse gas emissions. You can do that here.
Step 2: Based on your footprint, you can reduce your emissions by making suitable changes, such as switching to renewable energy, converting to LED lights or switching to a carbon-neutral courier etc.
Step 3: We believe that when you support a cause, the world should know about it. You can do this by integrating it into your social media strategy. By showing your audience the positive impact of your business on your socials, you can enhance engagement with your brand.
Customers are more aware than ever before about environmental issues: to attract today’s consumers and to retain your existing customers, you need to make it clear what you’re doing to be more environmentally conscious.
If you're interested in finding out more about integrating supporting a cause into your social media strategy, please give us a shout and we’ll be happy to go through the finer points with you.
Click Ethical Blog Squad