Climate Steps: Introduction
Welcome to this week’s sustainability news looking at climate steps being taken by companies around the world. Here, we share inspiring stories of environmental action and sustainability. This week, we’re focusing on remarkable corporate strides towards a greener future. These stories aren’t just about reducing harm; they’re about creating a positive environmental and social impact.
From communication agencies to tech giants and innovative corporate collaborations, every step counts. These developments reflect the growing trend of corporate responsibility in addressing climate change. As we explore these initiatives, let’s remember that every action, big or small, contributes to a more sustainable world. So, let’s get inspired by these steps towards a greener planet.
Climate Steps: Forster Communications Targets Net-Positive Impact
Forster Communications has embarked on an ambitious sustainability journey with its “Taking it Personally” strategy, extending to 2026. This plan builds on their success as a B Corp and a significant reduction in emissions intensity by 26%, alongside a 5% decrease in absolute emissions, despite significant growth in headcount and turnover.
The core of their strategy involves adopting Integrated Profit and Loss (IPL) accounting. This innovative approach quantifies the company’s impact on various stakeholders, including the environment, employees, and society. Forster collaborates with Green Element, positioning itself as a testing ground for this novel accounting method.
Forster’s account director, Olivia Martins, highlighted their commitment: “It’s critical that we’re walking the talk and are being just as tough on ourselves, always seeking to go further and do more.”
New sustainability targets set by Forster include ensuring all suppliers have emissions targets aligned with the 1.5C trajectory by March 2025 and major business clients by December 2024.
The company also plans to develop nature-based targets and has committed to reducing international travel in favour of funding community nature projects. A key social goal is to ensure all clients have public commitments to fair pay by March 2026, with Forster actively participating in the Living Wage Campaign.
These steps mark Forster Communications’ commitment to integrating sustainability deeply into its business practices, serving as an example for others in the industry.
Climate Steps: Amazon Inks Clean Power Deal with Scottish Windfarm
Amazon has made a significant leap in renewable energy adoption by signing a corporate power purchase agreement (CPPA) with ENGIE. This agreement secures a substantial 473MW output from Ocean Winds’ Moray West offshore wind farm in Scotland, enough to power over 650,000 UK homes annually. The 882MW wind farm, located in the Moray Firth and currently under construction, is set to begin operation in 2024.
This project is crucial to Amazon’s goal of powering all operations with 100% renewable energy by 2025, five years ahead of its original target.
Lindsay McQuade, Director of Energy at Amazon Web Services, highlights the significance of this initiative: “Transitioning to carbon-free energy sources is one of the most impactful ways to lower carbon emissions, and is part of our Climate Pledge commitment to reach net-zero carbon across our operations by 2040.”
This move is part of Amazon’s broader strategy to become a leader in renewable energy. In 2022, Amazon added 39 new renewable energy projects across Europe, contributing to its status as the world’s largest corporate purchaser of renewable energy. The company’s global portfolio, including over 500 wind and solar projects, is expected to generate more than 77,000 gigawatt-hours of clean energy each year.
The initiative will significantly contribute to reducing carbon emissions and promoting a greener economy. The change is part of Amazon’s broader sustainability strategy. It showcases the company’s leadership in promoting renewable energy and contributing to a greener economy.
Climate Steps: SBTi Forms Target Validation Services Subsidiary
The Science-Based Targets Initiative (SBTi) has made significant advancements in enhancing its capacity for verifying corporate climate goals. Announcing an impressive 100% increase in corporate commitments for 2023, the SBTi has completed key reforms, including its transformation into an independent organisation.
Additionally, the SBTi has attained charitable status in England and Wales, bolstered by a $36m donation package from the IKEA Foundation and the Bezos Earth Fund. Jessica Anderen, IKEA Foundation chief executive, emphasised the impact of these changes: “The SBTi’s transformation into an independent entity will strengthen the organisation’s ability to drive ambitious corporate climate action.”
The SBTi’s new subsidiary, focusing on target validation, aims to reduce average waiting times for target validation. Companies now have a 24-month window from announcing their intention to set SBTi-verified targets to complete the process. To ensure independent decision-making, a Validation Council of external experts will be formed. All profits from the subsidiary will be reinvested into the initiative.
Furthermore, the SBTi is set to undertake its first full review of the Corporate Net-Zero Standard in 2024, with updates expected in 2025. These reforms mark a pivotal moment for the SBTi, enhancing its capacity to support businesses in their transition to a sustainable and low-carbon future.
Climate Steps: Wrap Up
This week’s “Climate Steps” highlights diverse yet equally important initiatives in the realm of corporate sustainability. From Forster Communications’ ambitious net-positive impact goals to Amazon’s significant investment in renewable energy, and SBTi’s enhanced focus on target validation, each story showcases a commitment to a sustainable future. These initiatives are more than just corporate responsibility; they represent a growing recognition of the vital role businesses play in driving positive environmental change.
As we conclude this week’s roundup, let’s carry the inspiration from these stories into our daily lives. Every step we take, whether as individuals or organisations, brings us closer to a more sustainable and responsible world. Join us again next week for more uplifting stories of environmental progress.
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