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The goal setting and measurement report found that decarbonization strategies are becoming more and more complex, and current solutions may not be enough to achieve positive goals
Companies of all sizes in all walks of life have made sustainability a core tenet of their practices, but the latest Black & Veatch report found that many companies continue to establish goals without clearly achieving them.
Black & Witch’s Establishment and measurement of corporate sustainable development goals report, Developed by GreenBiz Group and downloaded and released for free today, it is found that corporate leadership teams in all walks of life are working hard to accelerate the transition from discussing and establishing sustainable development goals to actively delivering tangible results. How to achieve the most radical goals is still an area of uncertainty of various types and scales of business.
Rob Wilhite, head of the Black & Veatch distributed power generation service team, said: “The report confirms that sustainability strategies are becoming more and more complex and require companies to consider operational planning views that may last for decades.” As a key element, the roadmap will help companies set realistic goals in the short and medium term, while providing the flexibility and agility needed to comply with complex regulatory changes and rapid technological development.”
The main findings include:
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Among the companies surveyed with revenues of more than $250 million, more than 80% have set targets to reduce greenhouse gases, but 25% are not sure how to achieve these targets.
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Electric vehicles are piloted by more than half of companies with revenues of more than $1 billion as part of the strategy to achieve sustainable development goals.
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More than three-quarters of companies with revenues of more than $10 billion use analytics to reduce energy and water consumption, while more than half of all other companies use analytics to reduce energy and water use.
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Companies are using a combination of capital expenditures (CapEx) and operating expenditures (OpEx) to fund sustainability projects, and green and sustainability bonds are gaining attention.
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Company management and investors are the biggest stakeholders in promoting sustainability commitments, far surpassing other influencers, such as customers or regulators.
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Among the largest companies surveyed, two-thirds of companies with revenues of more than US$10 billion have set Scope 3 emissions targets, reflecting an upward trend in emissions affecting other companies and their activities in the value chain.
The reduction of greenhouse gases through the combination of energy efficiency and renewable energy procurement is considered essential for many large companies. Given that the scope of operation of enterprise-level power assets may span decades, companies that set or adjust goals must understand all the options available to them to avoid falling into a technological path. By having a clear understanding of the maturity and cost of the technology and the changing regulatory environment, companies can avoid these pitfalls.
The transition will take time, but there are already many innovative solutions: low- and zero-emission power generation, advanced renewable energy projects, alternative fuel vehicles and advanced energy storage technologies are creating a complete carbon reduction technology ecosystem. Now, companies must determine their impact on the global carbon cycle, understand the associated climate risks, and identify opportunities to conceive, update or change their decarbonization roadmap.
GreenBiz Group cooperated with Black & Veatch to conduct extensive research on the company’s sustainable development goals and the strategies formulated and deployed to achieve these goals. The report is based on an online survey that surveyed nearly 500 respondents in 14 industries and gained more insights from interviews with several Fortune 500 companies on sustainability leadership .
Editor’s note:
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Download Black&Veatch Establishment and measurement of corporate sustainable development goals report.
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The report is based on a survey of 490 qualified stakeholders and interviews with sustainability leadership from Black & Veatch, The Chemours, Jones Lang Lasalle, Molson Coors, Pfizer, Prologis, Takeda Pharmaceuticals, and United Airlines.
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As a global leader in the design and implementation of sustainable energy, water and communications assets, Black&Veatch collaborates with customers to explore technology and infrastructure solutions and tools that can help projects and operations adapt to real-world environments, economics and data management tools, extreme environmental, social and Regulatory risk.
About Black&Veatch
Black & Veatch is an employee-owned global engineering, procurement, consulting and construction company with a record of more than 100 years in sustainable infrastructure innovation. Since 1915, we have helped our customers improve the lives of people around the world by addressing the resilience and reliability of our most important infrastructure assets. In 2020, our revenue will exceed 3 billion U.S. dollars.follow us www.bv.com And on social media.
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