Climate change is a global challenge, but businesses can be powerful agents of change. How can companies effectively fight climate change? From reducing emissions to setting science-based targets, organisations have a variety of strategies to tackle their environmental impact.
Let’s break down the key actions your business might take.
Climate mitigation refers to efforts aimed at reducing or preventing greenhouse gas emissions. By cutting emissions, businesses can slow the progress of climate change and reduce its impacts on our environment.
One practical step for reducing emissions is transitioning to electric vehicle fleets, which can significantly lower a company's carbon footprint and reduce long-term energy costs.
Energy efficiency is another powerful strategy that yields immediate savings. For example, improving energy management systems and optimising energy use can deliver substantial cost reductions. BraveGen helped customers save up to $118 million through energy efficiency measures alone.
According to research by the United Nations (UN), transitioning to renewable energy could also save businesses significant amounts in annual energy costs.
While the upfront investment may seem overwhelming for businesses, especially smaller ones with limited resources, there is often financial and technical support available to ease this transition.
Many governments and organisations offer grants, subsidies, or low-interest loans to help companies make the switch to more sustainable practices.
Ultimately, investing in renewables will yield long-term benefits. UN research shows that reducing pollution and mitigating climate impacts could save the world up to $4.2 trillion per year by 2030.
While reducing emissions is an important step, the reality is that some climate impacts are already here. That’s where climate adaptation comes into play. This strategy involves adjusting business operations to better cope with the changing environment.
In New Zealand, many coastal cities are planning for rising sea levels, making it critical for businesses to adapt. Similarly, in Australia, businesses in the tourism sector are adapting to the declining health of the Great Barrier Reef caused by rising ocean temperatures and coral bleaching.
Whether it's relocating operations or reinforcing infrastructure to withstand extreme weather, being proactive can help safeguard both assets and employees.
Resilience is the ability of a business to anticipate, respond to, and recover from climate-related threats while minimising damage. This could involve anything from strengthening supply chains against extreme weather to developing products for more eco-conscious consumers or meeting stricter sustainability requirements.
For example, a business that builds resilience into its infrastructure is less likely to suffer operational downtime during extreme weather events. This protects revenues and also reassures stakeholders that the company can weather environmental shocks.
Companies that focus on resilience have demonstrated significantly stronger performance during environmental disruptions, often outperforming their peers and adapting more effectively to challenges like supply chain volatility and climate-related risks, according to McKinsey’s Global Resilience Survey.
Another key action for your company is the Science-Based Targets (SBTs). They align with the Paris Climate Agreement and help businesses set measurable goals for reducing greenhouse gas emissions.
These targets are designed to keep global temperature increases well below 2°C, with a goal of limiting them to 1.5°C.
By committing to an SBTs, companies gain a competitive edge. Not only do they help tackle climate change, but they also attract customers, employees, and investors who prioritise sustainability.
According to a Carbon Disclosure Report (CDP) report, companies that set SBTs reduce their emissions faster and are more likely to outperform their peers in the long run.
Achieving Net Zero means balancing the greenhouse gases emitted with those removed from the atmosphere. While reducing all emissions to zero is a complex process, companies take steps like offsetting emissions through carbon capture technologies or reforestation projects.
For businesses, pursuing a Net Zero target demonstrates leadership in sustainability. It shows that your company is committed to long-term environmental responsibility and is taking proactive steps to ensure a sustainable future.
Australia’s commitment, alongside New Zealand’s Zero Carbon Act, mandates Net Zero by 2050, signaling the direction in which all businesses need to move.
Having explored the key actions to combat climate change, it’s time to assess whether your business is actively contributing to this critical fight.
Whether you're a small startup or a large corporation, your business has a role to play in fighting climate change. By adopting mitigation, adaptation, and resilience strategies, and setting science-based targets, you can contribute to a more sustainable world while boosting your bottom line.
Ready to take action? Discover how BraveGen can support your business with the tools and insights needed for a successful sustainability journey.
Visit BraveGen Academy for more resources on climate change strategies and Net Zero commitments.