The 2021 United Nations Climate Change Conference, more commonly referred to as COP26, has resulted in enhanced commitments towards mitigating climate change. The result of COP26 was the Glasgow Climate Pact, in which the number of countries pledged to reach net-zero emissions passed 140.
The societal and governmental pressure for organisations to act and lead is increasing. In October 2021, the UK Government announced the Build Back Greener strategy setting out policies and proposals for decarbonising all sectors of the UK economy. Many large UK firms must show by 2023 how they plan to reach their net zero goals. Read more here: Net Zero Strategy: Build Back Greener - GOV.UK (www.gov.uk)
The UK government has established guidelines and a factsheet that define what is required. It should set out
a) high-level targets the organisation is using to mitigate climate risk, including greenhouse gas reduction targets (e.g. a net zero commitment),
b) interim milestones, and
c) actionable steps the organisation plans to take to hit those targets.
Read more here: Fact Sheet: Net Zero-aligned Financial Centre - GOV.UK (www.gov.uk). The factsheet articulates 7 next steps for organisations as considerations whilst developing their net zero transition plans:
Gain capability, visibility and trust when executing your net zero strategy by leveraging Anaplan to integrate environmental reporting and forecasting into your core FP&A process.