Corporate net zero strategies are dramatically increasing, seemingly daily. Even governments are stepping up to take on the commitment.
The concept of net zero was popularized by the Science Based Targets initiative (SBTi) to encourage businesses to prioritize internal emission reduction and then investments in external projects to compensate for residual emissions.
The devil is in the details, but basically, a company will calculate emissions across their operations and value chain, create an internal emission reduction roadmap and then compensate for the emissions they have yet to reduce.
Carbon emission reductions are a clear priority; however, plastic waste is quickly entering the mainstream conversation. The 2022 UN Treaty on Plastic Pollution, calls for prioritized corporate plastic footprint reporting and removal. Now, governments are responding and imposing plastic taxes, pressuring companies to seek plastic alternatives and implement reduction strategies.
Reducing the single use plastics in corporate supply chains is now a necessity to avoid impending liabilities.
Business Benefits of Including Plastics in Net Zero Strategy
While reducing corporate plastic footprints has become a necessary step to avoid impending liabilities, designing a circular supply chain can create tremendous business opportunities.
Consumers are searching for single use packaging alternatives and investors are calling for plastic action. Including plastics in corporate net zero strategies is the most science-based approach to align with stakeholders.
Achieving net zero for a company’s plastic footprint follows the same roadmap as carbon. First a company will measure their plastic footprint, initiate an internal reduction strategy and then invest in impact projects to compensate for the waste they have yet to reduce. Read more here to find out how to quantify a company’s plastic footprint.
Plastic and Carbon Net Zero Strategies go Hand in Hand
If done right, tackling a company’s plastic footprint will in turn minimize the company’s carbon footprint. In some situations, specifically for CPG companies, the plastic footprint can be one of the most significant contributors to their overall carbon emissions, especially in Scope 3.
A holistic climate action strategy addresses all of the major environmental hotspots a company may have. Tackling carbon emissions and plastic waste is a great starting point.
Ensure Your Net Zero Strategy is Bullet Proof
Accuracy, actionability and transparency are the foundations of every net zero strategy. Every company must make sure they accurately measure their environmental footprint, design an actionable reduction strategy and transparently communicate their progress.
Failing to align with these tenets can result in consequences going beyond bad PR, as the SEC is litigating greenwashing.
Ampliphi’s methodology and platform are fully aligned with the world’s leading standards.
- Ampliphi’s accounting methodology is aligned with the leading institutions and standards.
- Our platforms’s reduction initiatives and impact initiatives are fully vetted and verified to ensure every target and investment are of the highest quality
- Every communication claim and reporting document is designed for full transparency.
How Ampliphi’s Platform Works
Automatically connect or manually upload your data to our platform, where our proprietary data engine goes to work. We map your operations and supply chain to pinpoint hotspots and automatically recommend footprint reduction recommendations. Every recommendation is connected to solution providers in our network ensuring you are able to find tailed solutions for your business.
After designing and implementing an internal reduction strategy, we help you design a personalized impact investment portfolio to help compensate for the residual waste and emissions.
Finally, companies can automatically report to regulators (e.g. Plastic Tax Compliance) or wow their consumer and investors through communication assets.
In case there are ever any questions, our expert consultants will help your company every step of the way and ensure that your net zero strategy aligns with your brand and budget.