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There’s never been a more pressing time than now for businesses to move quickly. Following a recent report released by the World Economic Forum (WEF), their 54th Annual Meeting took place last week in Davos, gathering delegates from global business, government, civil society, and thought leadership to discuss the most pressing issues and strategies on how best to drive impact.
One guess for this year’s priority topic?
You guessed it – carbon mitigation. As corporate interests and environmental responsibility become increasingly intertwined and mutually beneficial, conversations are accelerating amongst the evolving landscape of business attitudes, and CEOs find themselves at the forefront of a transformative movement. We caught up with our own CEO, Andrew Hughes, on how corporate leaders play pivotal roles in catalysing systematic change.
A Pivotal Time for Global Climate Action Driven by Decision Makers
As of late, there’s been a growing scepticism around how effective climate summits are in mitigating the damaging effects of climate change and steering positive change. Although much of the attention directed at climate-driven global meetings focuses on the independent and collaborative roles of national governments, these summits also attract policymakers and leverage interactions leading to bilateral agreements which often don’t quite hit the mark.
Considering this debate and growing mistrust of policy development, Andrew suggests that “governments are driven by a range of different factors, often struggling with the long-term and abstract nature of climate change. But business leaders, with a focus on profit, loss, growth, and efficiency, are perhaps better positioned to drive meaningful change than governments”. This means that CEOs and decision makers have a transformational role to play.
From a business perspective, carbon is implicit in various aspects such as customer and market trends, innovation, partnerships, and cooperation. “As carbon incurs costs, businesses have a clear incentive to decarbonise. Beyond environmental responsibility, there’s a compelling business case for efficiency gains and cost savings in carbon reduction,” Andrew said.
Over the next decade, businesses are poised to generate significant cost-efficiencies by handling carbon reduction more efficiently, presenting a tremendous opportunity for corporate success. As businesses succeed in decarbonisation, this success can become an accelerant for political and societal changes, making it easier for politicians to commit to broader socio-economic changes.
Harnessing and Celebrating Collaboration
In anticipation of WEF’s annual event, Chairman Klaus Schwab called for attendees to “advance dialogue, strengthen cooperation and deepen partnerships on critical global challenges”, principles which we at TripShift are driven by. Through encouraging and enabling conversations around corporate solutions which are both environmentally and economically beneficial in the long term, policy makers are offered a tangible route. This makes it easier for politicians to commit to bigger and further types of social economic changes on a broader level.
“TripShift a long time ago recognised the need for businesses to take a collaborative approach to decarbonisation” Andrew explained. From complex data supply chains, disparate workforces, and logistical operations, TripShift recognised the need for collaboration and synergy to harness and synergise corporate carbon data.
TripShift’s technology offers opportunities to build on a company culture where carbon data itself is collected to provide greater company insight. Inclusive of entire teams and disparate departments, it fosters a sense of clarity in fundamental scope 3 data, much of which may not have been considered or available previously. What we provide businesses with is transparency and context.
“People need relatable information which allows them to make changes. I think that’s what drives change the quickest” Andrew says, “Information and action need to be accepted by every level within communities, from businesses down to consumers.” For this, data representation is essential. TripShift’s models of intelligent, fully integrable carbon data continually evolves towards optimising the way vital emissions information is translated and optimised.
The WEF’s recent report highlighted that supply chains are on average responsible for 10% of global total carbon emissions. Not only as logistical operations but as integral components offering financial incentives and sustainable strategies, supply chains hold huge opportunities for leaders to accelerate, streamline, and essentially win.
Businesses need to address the carbon footprint associated with transportation, and the importance of data in understanding and reducing the carbon impact within supply chains is paramount. “In the next 10 to 15 years, businesses will have increasingly more opportunities to generate significant cost efficiencies and savings by handling carbon in a more efficient way. This involves removing or reducing carbon emissions, presenting a substantial opportunity for businesses”, explains Andrew.
Empowering businesses to address supply chain impact is a fundamental part of TripShift’s strategy and solutions. Out platform is designed to assist businesses in understanding, managing, and optimising supply chains for reduced carbon impact.
“Some of the key questions we’re looking to support businesses answer is “How are their products moving? When are they moving? How can we document the data? How can we make that process cleaner?” Andrew outlines.
Demonstrating a commitment to sustainability through decarbonised supply chains can positively impact brand reputation. Consumers are increasingly choosing brands aligned with their values, leading to improved loyalty and positive word-of-mouth.
CEOs – Let’s Get Moving
Decision makers in business catalyse systematic change beyond their own personal corporate realms. Through collective action, there are boundless opportunities in driving both environmental responsibility and progressive success.
With focus on collaboration, scalability, and data-driven strategies, TripShift looks to support CEOs navigate the complex terrain of closing the global emissions gap whilst simultaneously optimising business strategies.
If you’re looking to integrate scope 3 carbon mitigation solutions into your business, let’s talk.