How companies are inspiring change through climate commitments

The call for climate action has spurred an increasing number of corporations to transform their public commitments to climate goals. Businesses are making headlines for pledging to use 100% renewable energy, achieving carbon neutral or negative, and setting science-based targets to reduce emissions.

This episode discusses the innovative commitments companies are making to help drive down global emissions, communicate long-term value and gain a sustainable competitive advantage. The conversations dive into what these commitments entail, and the strategies engaged to achieve them. Topics also include a practical approach of reduce, switch, innovate and offset (RISO).

EY’s Chris Hagler, Stephen Auton-Smith, Managing Director, Ernst & Young Infrastructure Advisors, LLC and Rich Goode, Executive Director, Climate Change and Sustainability Services, Ernst & Young LLP, talk about actionable recommendations for organizations to achieve their climate goals. The conversation also looks ahead at the future and covers new instruments that corporations can utilize down the road to either further solidify their climate commitments or take on additional initiatives.

Key takeaways include:

• Tangible results from a company’s sustainability commitments, such as wind farm construction, can energize employee engagement.
• The renewable energy market is gradually offering a mix of products with more diverse risk profiles, from changes in virtual and physical delivery power purchase agreements.
• Companies can use thoughtful acquisition of offsets to tell their sustainability story – aligning offset procurement with ESG goals.
• As countries increase procurement of renewable energy and offsets, corporations will likely need to be more innovative to reach climate goals.

For your convenience, full text transcript of this podcast is also available. Read the transcript.