To prepare for the net zero journey, you must understand climate basics and measure your company’s current emissions. This will help in setting science-based goals that ensure climate targets align to the latest science and will help avert the greatest climate risks.

The key to meeting your climate goals is a robust transition strategy. This includes developing the organizational buy-in and governance needed to support the goals, as well as creating strategies to incorporate innovation, policy advocacy, and equity and justice. Additionally, developing a Climate Transition Action Plan (CTAP) ensures targets are achieved by providing a credible course of action.

Acting now to reduce direct emissions from your company’s operations should be a main focus of your short-term climate goals. Transitioning to renewable energy and taking action to reduce emissions in facilities, transport, and agriculture can significantly reduce a company’s emissions.

Measuring and prioritizing value chain emissions reductions (Scope 3 emissions) is a large challenge, but one that every company must tackle. Engaging suppliers and tackling sector-specific value chain challenges is an opportunity to create new business value, build stronger relationships with stakeholders, and contribute to a more sustainable future.

High-quality carbon credits can be an important tool for companies to leverage in their climate strategy. A strong focus on understanding the elements of carbon credit quality is necessary to chart a path forward and navigate the complexities of the voluntary carbon market.

Transparently tracking progress and disclosing climate-related risks is important for companies to build trust with stakeholders and can generate benefits such as brand-building, employee retention and engagement, regulatory reprieve, and improved public image.