Accelerating Decarbonization requires speed & scale to turn business emissions reduction targets into sufficient, tangible, measurable progress by 2030, and ultimately enable 9 billion people to live well, within planetary boundaries by 2050.
For businesses, this means more than “just” reducing emissions; it’s about reimagining business models to be resilient, innovative, competitive and future-ready and as a result, evolving ways of deciding, operating & collaborating across the organization and the entire value chains.
Yet, the corporate decarbonization journey is filled with barriers, including internal ones. One of the most common barriers is the cost—deep decarbonization requires long-term capital allocation. Another key barrier is the multitude & diversity of stakeholders to engage, upskill and partner with—internally, with the need for cross-functional collaboration, but also externally, with suppliers, customers, shareholders etc. With this, comes often the lack of incentivization to change—many businesses have yet to fully integrate sustainability into financial rewards, missing a key motivator for progress.
Business decarbonization is no longer just an ethical or compliance issue. It is a strategic business imperative and catalyst for long-term success. Companies that act swiftly can reduce costs, mitigate risks, enhance brand reputation, attract investment and talent, and unlock new market opportunities.
In the Track Accelerating Decarbonization, we focus our efforts on How to empower businesses to rapidly reduce emissions through profitable, collaborative and innovative strategies.
We do this through two main areas of action:
1. Supplier Decarbonization & The Climate Drive. Via an online Supply Chain Action Group, our members exchange best practices to solve implementation challenges (e.g., sourcing renewables for suppliers, engaging at scale) and co-develop joint toolkits & case studies to accelerate collective action. They have access to open webinars to support their suppliers as well as the opportunity to directly contribute to the development of The Climate Drive, an open digital platform powered by WBCSD, to serve as a first stop for businesses to confidently advance in their decarbonization journey.
2. Breaking Barriers & Advancing Corporate Decarbonization. In this workstream, we empower our members to anticipate next moves to fully & efficiently meet decarbonization targets while navigating competing organizational priorities and stretching growth targets. Members take part in three peer complementary initiatives, which include an annual Head of Climate Base Camp, a Climate Catalyst Program to unlock cross-functional collaboration via in-person sessions, as well as an online Next Frontiers Peer Group, to identify barriers to action and their root causes, and co-develop frameworks & toolkits to address them.
