Climate action continues to rise as a global obligation that is shaping buying, investment, and capital markets decisions. To that end, sustainability reports and emissions targets are on the rise. In fact, two thirds of Fortune 500 companies have set net-zero targets. However, there is growing concern that there is a large gap between promises and action.
Emphasis is being placed on tracking and governing that progress. This is largely due to the lack of substance and associated confidence that those promises will actually be delivered upon.
The opposing pressures to making green promises while not being caught “greenwashing” can seem like a catch 22 within the current realities of carbon accounting. Carbon accounting has historically been fraught with fuzzy math and sweeping, self-reported averages, leaving well-meaning companies at risk.
As climate action continues to rise as a global priority, carbon is becoming the biggest on-balance sheet liability for corporations. Solving the energy data access issue can enable those same corporations to bring critical insights to their energy procurement strategies and help them reach their net-zero or clean energy adoption goals.
It’s time to adapt your carbon accounting standards to understand and ultimately reduce your carbon liability.