Should businesses make net-zero plans to achieve climate goals?
Businesses flourish when they produce goods and services that customers want. In most parts of the world, customers are concerned about global warming. They are worried about changing weather patterns. People are experiencing extreme weather events now almost every year. Weather changes have started making an impact on day-to-day life.
A global consensus on achieving net-zero carbon emission targets has been reached in response to public pressure supported by climate data. Countries have made plans. They are also making regulation changes to help achieve climate goals.
Businesses need to stay competitive and aligned to customer priority. They have no option but to make net-zero plans. Failure to do so will impact brand image. Customers will go to businesses that are responsive and supportive of climate goals. Investors, too, have started factoring in climate risk in their lending models. Funding will be available only to those businesses that conform to national and global climate goals.
Businesses, therefore, have no option but to get fully behind climate change abatement efforts. Every business sector, including fossil fuel producers, consumers, miners, has made ambitious plans to be net-zero by a date. These plans are getting monitored assiduously by their Boards. The strategies and details are being made available to the public. Companies are telling their customers that they are proactively addressing customer preferences.
It is in the vested interest of companies to not just appear to be climate-friendly but to be seen working towards achieving these goals. Customers are driving this change.
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