On-Demand Webinar │ Held November 16, 2021
Corporations play an imperative role in leading the transition to a sustainable future. But that’s easier said than done. It’s complicated to balance sustainability efforts across resources and to make progress while growing a company.
In this webcast, Fifth Third Bank pulls back the curtain on its journey to set—and achieve—holistic sustainability goals. Then experts from ENGIE Impact share insights and tools on how your organization can develop its own holistic sustainability strategy.
This one-hour conversation covers:
- Strategies for balancing your sustainability program’s efforts across resources, including energy, waste, and water
- The crucial role of data in understanding where you’re at and where you need to go
- How to factor in climate risk into sustainability strategies
- How to address common challenges, like keeping up with your peers, gaining internal alignment and external stakeholder management
- How Fifth Third has achieved 100% renewable energy and continues to drive transformation with carbon reduction progress
Transcript has been edited for clarity
Amy Tsui: As the demand for organizations to prioritize sustainable goals increases and progressive companies set increasingly aggressive commitments, the bar continues to rise. When working to understand what it means to have a credible target, there are five main components to consider:
- Trajectory: The goals should be aligned with science and include near-term milestones.
- Governance Structure: There should be a structure to support accountability and decision-making throughout the journey. Acknowledging that you won’t know all the answers to get you to the next target and have processes in place to continue the momentum and accountability is important.
- Boundary and Scope: Consider what boundaries and scopes are inclusive and need to be addressed. Scopes 1, 2 and 3 are now relevant and, in some cases, expected.
- Internal Strategy: Is a clear internal-facing reduction strategy in place with an appropriate abatement hierarchy? This means first reducing your direct emissions before shifting to the external reduction strategy.
- High-Quality Offsets: Utilize offsets or renewable energy credits to support your strategy as needed.
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