Why Your Business Should Set A Reduction Target
December 10, 2019
Businesses all over Canada are benefiting from setting reduction targets to support the transition towards a low-carbon economy. Reduction targets address key climate change areas such as GHG emissions, energy efficiency, waste and water. Whether you are a large corporation or a small not-for-profit, reduction targets can be scalable and are specific to your business’ goals and practices.
Maple Leaf Foods Inc. for example, recently announced that they are the first major food company to become carbon neutral. They set ambitious science-based targets to reduce their GHG emissions and plan to even further reduce their environmental footprint by 50% by 2025. Maple Leaf Foods has committed to reducing their absolute scope 1 and 2 GHG emissions by 30% by 2030 from their 2018 baseline. They are also reducing their scope 3 emissions produced in their supply chain by 30% per tonne of product. Maple Leaf Foods is a sustainability leader in the food sector and due to the resource intensive nature of their company, their targets will help them be more resilient against climate change risks.
Within Green Economy Canada’s network, a business that has made a commitment to sustainability is Alectra Utilities, a residential and commercial electricity distributor. One of Alectra’s commitments is to deliver innovative energy solutions to consumers, and reducing GHGs is a pathway to this. By setting ambitious reduction targets Alectra reduced 16.32 tonnes of GHGs between 2014 and 2017 and had a cost savings of $5,000 per year.
How will setting reduction targets benefit your business?
There are nothing but upsides when it comes to businesses pursuing sustainability. Setting reduction targets will support the long-term sustainability of businesses, their stakeholders and the community. Projects that address waste diversion and reduction, decrease water usage and GHG emissions improve efficiency, are cost effective and can improve economic returns. Not to mention reduction targets are a great way to respond to consumer demands in an increasingly green economy, increase customer satisfaction and enhance brand image. Integrating reduction targets into strategic planning will increase resilience as the regulatory environment becomes more uncertain in the face of climate change. Furthermore, businesses that set reduction targets will drive innovation as the economy transitions from business as usual to low-carbon.
Green Economy London will help your business from the start with establishing baseline data to set the reduction targets and support progress through one on one coaching, educational workshops and networking events. We want your business to achieve your reduction targets and that’s why Green Economy London celebrates and recognizes measurable progress.
Join the network of businesses that are driving innovation in the low-carbon economy and reach out to firstname.lastname@example.org to learn more about how we can help your business set reduction targets.
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