Guest commentary
the full potential of energy efficiency more ambitious standards and energy saving targets are needed. Over- consumption of energy means that money is wasted and competitiveness is reduced. It should be addressed accordingly.
It’s encouraging to see the examples of Scope 3 measures reported by the respondents. Strategies for reduced emissions in the usage phase of the corporate value chain (Scope 3) as well as strategies for avoided emissions in society (also referred to as Scope 4) are essential for the transition to a low carbon future because, as the report points out, they have a multiplying effect by “helping to stimulate demand for and supply of low-carbon goods and services throughout the economy”. Some of the examples presented in this report may be limited in scale and embraced by only a few of the companies. However, given the magnitude of challenges ahead, enhanced climate strategies open the door to opportunities for new markets and revenues which are waiting to be exploited. This is particularly valid for sensitive products where indirect, life- cycle impact dominates the carbon footprint, e.g. automobiles, home appliances, buildings, etc.
Given the anticipated growing importance of Scope 3 and avoided emissions it should worry managers and owners that “Nordic companies lag behind in disclosing their total carbon footprint”. Scope 3 must be placed at the core of business
strategies and rewarded in carbon reporting to enable the transition and fully capitalise on the opportunities in the low carbon economy. This would also contribute to a much needed capital injection from Nordic corporates and financial actors towards the cleantech sector, a €180 billion business area that is currently growing at 31% per year.
Decision-making for a low carbon future
The establishment of CDP Nordic is a great achievement and the increasing number of respondents is indeed a promising sign. WWF Sweden fully supports all efforts to put climate change impact at the core of every business manager’s and investor’s decision-making. We hope for a continued fruitful partnership to fulfill CDP’s ambition to “ensure the effective use of data collected”, by the reporting companies as well as by the CDP signatory investors.
‘Enhanced
climate strategies open the door to opportunities for new markets and revenues which are waiting to be exploited.’
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