One Year On – COP27 and the Importance of Being a Sustainable Business

COP27 in Sharm El-Sheikh
Annual climate change conference COP 27 Sharm El-Sheikh in November 2022. International climate summit banner. Global Warming. Vector illustration

Why should COP27 matter to your business? How can prioritising sustainability make your business more resilient and successful in the long-term?

This week is COP27 – the 2022 UN Climate Change Conference which brings together world leaders to explore and act against climate change and other significant issues currently impacting the planet.

As the event continues to gain traction over the next few days, we’re taking a look at what makes this event so important, and why prioritising sustainability is key to protecting the future of your business.

The Significance of the COP Summit

The UN (United Nations) has been uniting countries from around the globe since 1995, when the first COP event took place in Berlin, Germany.

Last year’s event was particularly significant, as it was hosted by the UK and was perceived as the last real chance to get climate change under control. This was linked to The Paris Agreement – an international treaty signed by almost all countries at COP21.

This document contained specific images relating to the climate crisis, including an agreement to limit global temperature to below 2 degrees. Signatories were expected to outline as to how they planned to reduce their emissions to achieve this goal, to ensure that real change can be made to gain control over the current environmental problems.

The Paris Agreement was a milestone in the history of climate change action, as it underlined the first occasion that a binding agreement united all nations under a common goal to acknowledge the effects of climate change and act accordingly.

COP27 – A Closer Look

This year’s conference reflects the summit’s location and aims to explore climate impacts in Africa.

In addition to looking at how climate change is affecting the continent, it will also pay attention to the fuel, food and fertiliser shocks that were prompted by a combination of the conflict in Eastern Europe and the fallout of the coronavirus pandemic.

The Need for Sustainable Change

Whilst some of the issues discussed at the summit are the result of political tension and disease, many are linked to climate change and the consequential environmental issues.

If we’re going to achieve the goals established by COP26 and COP27, everyone needs to take responsibility and make a conscious effort to reduce their carbon footprint and lay the foundations for a greener future. This is especially true for businesses, who are typically the largest emitters of harmful gases into the atmosphere.

Finding ways to cut emissions such as Scope 1, 2 and 3 emissions should therefore be a priority for businesses who are looking to elevate their sustainability credentials.

Of course, it’s impossible to implement or begin driving sustainable change without measuring it.
This is where data gathering comes in.  Data is integral to being able to identify carbon emissions in your business and informing the necessary changes that are conducive to the overall aims of the COP27, and those of previous years.

COP27 Sustainability and Business Security

The themes and topics being dissected at this year’s summit also highlight issues around globalisation – and the extent to which we are all dependent on the world’s resources for food and commodities like fuel.

The recent geopolitical conflict and fallout from the global pandemic have also shown us all just how precarious this reliance is, demonstrating the catastrophic consequences that even the slightest disruption can have. Across the world – businesses from a variety of different industries have re-evaluated their supply chains and strategy, considering how they can plan and be better equipped for any future challenges that they might encounter.

Increasing business sustainability is a key part of improving supply chain resilience – and gathering and reporting on key emissions data is a great method of doing this.

 In addition to showing you where your main emissions are, it also reveals weaknesses in your supply chain and in turn, the capacity for things to go wrong. Having access to this data enables you to clearly identify which areas of your immediate operations need adjusting, as well as those further down in your supply chain.  

Measure and Report with AXIOM

If you’re looking to improve your business’s sustainability – we can help.

Whatever industry you operate in, we have years of experience helping businesses from all industries measure and improve their sustainability credentials. Whether it’s gathering Scope 3 data or mapping your supply chain, we have the specialist technology in place to help you achieve your goals and become a more environmentally friendly organisation.

Our technology also enables you to track all 17 SDGs (Sustainable Development Goals) set out by the United Nations – empowering your business to set baselines, report on key metrics and track progress as you work towards being part of a better future.

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