Rigorous decarbonization goals have run up against the realities of running businesses. Companies are falling short of targets, as a 2022 study by the CDP (Climate Disclosure Project) revealed a mere 0.4% of disclosing organizations had credible climate transition plans, with 13% making progress. We’ve made progress in regulations, investments, and technologies; and learned a lot about the complexity of this Herculean effort. However, the current state of corporate decarbonization and circularity efforts is not sustainable.
Mainly, we recognize the imperative of canada rcs data closing the gap between stated ambition and substantive action to achieve circular, lower carbon practices. The three major takeaways from the climate and nature track at Davos 2024 were firstly the urgent need to “bridge the gap between knowledge and practice,” followed by instilling urgency and dispelling economic myths. While there are many factors at play on how to action these, better data and greater transparency across the board is perhaps the most essential driver to address all three priorities, and thus usher us into the next phase of the material transformation to make sustainability more sustainable.
The Emissions Data Transparency Imperative
The CDP, which has collected disclosures from 21,000 global organizations, reported good news that company environmental data disclosure grew by 24% in 2023; however, “a growing number of companies are responding, but more must respond with the high quality and comprehensive data needed to pick up the pace towards urgent environmental action.” Precise, relevant corporate climate data and models are increasing month by month as we accrue larger datasets and uncover and standardize precise modes of measurement. Transparency is critical if we are to act on the data to drive tangible progress; and transparency is fundamental on multiple levels, from regulatory compliance to showing progress to stakeholders.