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Although this corporate behavior has positive impact on raising public awareness to the urgent call for carbon neutrality, a deeper understanding of its meaning and how it can be effectively deployed to sustain growth remains necessary.
The UN defines carbon neutrality as “measuring, reducing and offsetting an entity’s carbon footprint”, with an eye on “balancing caused emissions and avoided emissions” – thus, neutrality or net zero. And major enterprises are heeding the call for good reason.
“Companies are actively thinking about sustainability, and the fundamental reason for this is life around us is changing,” observes Maya Hari, CEO of Terrascope, a carbon measurement and management SaaS platform.
“If you are part of the management, a CEO or member of the board of a company, you're thinking, how do I build the durability of this company? It's a fundamental business need, and it's a durability need to start thinking about making decisions inclusive of sustainability and the environment,” Hari explains.
Terrascope deploys technology to large enterprises that are on their way to achieving net-zero goals. “And the very start of this journey to net-zero is measuring the company's carbon footprint.” Awareness of where one stands precisely on the emissions scale is the basis for deciding the crucial next steps.
Terrascope helps companies decarbonize their operations, supply chains, and portfolios. As its company website claims, “(It) enables clients to measure carbon emissions with speed and confidence, manage the complexity of carbon reduction, collaborate seamlessly between teams and with external partners, and share trusted data with stakeholders.”
The company works mostly with big enterprises in Europe and Asia that have large emissions coming from their supply chains. These emissions – classified as ‘scope three emissions’ – are indirect to the company; they are based on what they're procuring in their supply chain, and that are harder to control. “This is the toughest part of the emissions problem that we've decided to take on and build for,” Hari says.
In this second episode of The Portfolio Podcast Presented by YPO, Maya Hari and I talk about the mounting pressure – from both regulatory requirements and consumer demands – as well as the attractive benefits of being carbon-neutral compliant.
The continued growth of an enterprise will increasingly depend on a comprehensively implemented net-zero strategy. It is no longer one among several options to stay in business, but the only one.
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