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Andreas Staubli
CEO, PwC Switzerland
Were you unable to attend our recent webinars on the transition to Net Zero? We have compiled the key take-aways from Siemens, swisscleantech and PwC in this article.
We talked about the current challenges of C-Level executives in achieving Net Zero goals and the influence of the regulatory environment in Switzerland. Furthermore, we discussed key challenges and learnings of Siemens and PwC Switzerland in achieving Net Zero targets.
Key learnings from the webinar
PwC's 25th annual global CEO survey shows that CEO's - both in Switzerland and globally - struggle to measure their footprint and they do not feel properly prepared and ready to execute relevant measures.
Net Zero is not a sprint, it is a marathon, which requires an investment in data quality, specific measures based on available technologies as well as a culture and mindset change, and new ways of working, including transparent communication, internally and externally.
Now it is the right time to define a science-based target, as a such a target helps to define the process of reaching Net Zero and provides the credibility needed.
Governance is key to enforce targets and commitments. Sustainability has to be embedded in processes and decision making.
The interplay between business and politics is crucial to success, because only with ambitious national targets, the right incentives and planning certainty will we be able to make sufficient progress in the area of climate and energy.
Companies need to work with suppliers and consumers in their value chains, communicate interdependencies and jointly define targets.
Contact our ESG experts for further questions regarding
Net Zero:
Christophe Bourgoin
Partner, Investor Reporting and ESG Leader
PwC Switzerland
Email
Stephanie Janoska
Team Lead, Corporate Responsibility
PwC Switzerland
Email
«As CEO's and board members we have the responsibility to ensure the implementation of strategic ESG aspects in all business activities, identify and follow up on both, risks and opportunities.»
Siemens Switzerland showcased their DEGREE framework and explained, how they are going to achieve their ambitious target to become Net Zero by 2030 in five levers and how they will achieve a Net Zero Supply Chain by 2050 and a 20% emissions reduction by 2030:
- Energy efficient locations
- Renewable energies
- Decentralised energy systems
- Sustainable mobility
- Carbon offsetting
Supply chains need to support the target
It is important to analyse the entire value chain from suppliers to products, including logistics and travel. Procurement must encourage dialogue with suppliers and their commitment to CO2 reduction, and use supplier innovation to achieve environmentally friendly product design. Assessment of the carbon footprint does not stop with suppliers, there is a need for a Scope 3 upstream reporting and disclosure and a clear focus on product carbon footprint along the product life cycle. A holistic view and transparency is needed.
Let us shape the political framework
For quite a long time it was true for many business leaders that "less regulation is better regulation". But to achieve Net Zero, policies and the right regulations are needed to enable businesses to fulfil their roles. One example is the necessity to have an adequate price on CO2 or better incentives to invest in renewable energy projects. The current debate in parliament shows that the ambition of politicians is not big enough to speed things up as they should.
«Net Zero stands for a huge transformation of society. Businesses play an important role in reducing emissions, developing innovative technologies and investing in a sustainable infrastructure. But Business needs ambitious political targets, better incentives and more planning security to play this role.»
On the journey to Net Zero
The need to contribute and fight against climate change is a long journey, where the involvement of many different stakeholders - internally and externally - is key. While external pressure is increasing, management needs to make their commitment with tone from the top. Business representatives can and must help shape the political framework, e.g. via the CEO4Climate initiative or a membership at swisscleantech. With the right incentives and clear communication, we can solve this important problem together and reach Net Zero by 2030 and beyond.
#social#
ESG: criteria and implementation
Trust in a partner who'll take you step by step along the path to Net Zero.
A big 'Thank you' to our guests from Siemens and swisscleantech for these fantastic discussions and valuable insights to keep this important dialogue ongoing!
Download the presentation
https://pages.pwc.ch/core-asset-page?asset_id=7014L000000Pok8QAC&embed=true&lang=en
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Contact us
Partner, Investor Reporting and Sustainability Platform Leader, PwC Switzerland
Tel: +41 58 792 25 37