The amount of greenhouse gasses (GHG) in the atmosphere is increasing global average temperatures, causing climate change. This increase is owing to human activity, which emits GHGs, the most prominent being carbon dioxide which remains in the atmosphere for up to 1000 years. This along with air pollution negatively impact economies and is estimated to cost the West Midlands around £2.5 billion annually.
The UK Government has set a legally binding target for the economy to reach net zero carbon emissions by 2050. Net zero means achieving a balance between producing and removing Greenhouse Gas (GHG) emissions from the atmosphere.
The West Midlands Combined Authority (WMCA) has set a regional target of net zero by 2041. This will impact over 88,600 businesses across the West Midlands region as they will have to adapt activity to reach net zero. Climate change and the net zero transition present many opportunities and risks, including:
How businesses respond to these opportunities and risks will influence their future survival and profitability. The requirement for sustainable business has accelerated markedly over the last five years as a result of increased environmental concerns, increased consumer and supplier pressure, and environmental contract stipulations.
The aim of The Sustainable Business Series is to increase awareness of and stimulate action on achieving net zero targets. This will contain member and stakeholder knowledge, best practice and guidance.
The Series will begin in October and cover four key topics businesses should consider when adapting to the net zero transition: Energy, Transport, Circular Economy (Waste & Resources) and Sustainable Business Management.
The Series will have a variety of content contained in the themed weeks, namely: videos, podcasts, blogs and free digital webinars.
Our ‘Net Zero and the Business Community’ briefing paper details why net zero is important for businesses, the economic and commercial opportunities it presents, and legal and compliance obligations. It also highlights what businesses can start to do to prepare for the transition.
If your business would like to contribute to The Sustainable Business Series 2021: Net Zero content, please register your interest below.