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Organizations around the world are making bold commitments to climate mitigation in response to growing pressure from investors, analysts, society and clients. However, it is not enough to simply commit to net zero carbon; it requires a fundamental shift in the way organizations operate. An actionable, transparent, and credible climate transition plan must follow. Yet less than 1% of the more than 18,600 companies disclosing to CDP, a non-profit platform for organizations to disclose environmental impacts and management, sufficiently responded to questions about their credible transition plan despite the proliferation of corporate net-zero targets.
Our Sustainability Advisory experts from the U.S., UK, Netherlands and India are joining forces to develop Net Zero Catalyst, a decarbonization model that has the capability to translate our customers’ climate goals into high-quality, actionable roadmaps to make their climate commitments a reality.
The software uses cost-benefit analysis and interactive data visualization to display decarbonization roadmaps at multiple scales. First, users enter details about their organization, including baseline greenhouse gas (GHG) emissions and the timing and ambition of their GHG reduction targets. Then, they can enter the cost, savings, and potential carbon reduction of the measures they have evaluated or work with Arcadis experts to identify and assess measures. Users then score each measure based on a variety of qualitative impact metrics with custom weightings, such as biodiversity, health and safety, and technical feasibility. For each measure, a variety of carbon and financial metrics are calculated, including marginal abatement cost, along with a qualitative impact score. These metrics are visualized in an interactive dashboard that can be used to prioritize decarbonization measures and build a roadmap for net zero.
The model underlying our Net Zero Catalyst tool was created through significant client consultation and informed by our legacy of working with sustainably minded organizations. Our work with HB Reavis is one example of the work informing the platform. HB Reavis wanted to showcase its commitment to climate action by setting a 2050 net zero target for its portfolio, supported by an actionable decarbonization plan. We helped HB Reavis develop a net zero program, including a decarbonization strategy, achievement plans, baseline emissions calculations and reporting, ensuring climate action is integrated across HB Reavis’ business.
Another example is our work with a U.S.-based rail operator who we are helping develop a comprehensive climate transition plan. We have conducted thorough physical and transition climate risk assessments, evaluated the integration of climate into Enterprise Risk Management procedures, and developed quantitative key performance indicators (KPIs) to measure success against public climate commitments.
As a part of this work, our team brought together more than 20 client stakeholders in a cross-functional workshop to identify and prioritize quantitative, verification-ready KPIs. This workshop helped stakeholders collectively think big and gain an appreciation for the role their individual functions would have in coming together to achieve the company’s climate target.
Both examples informed the reporting metrics and sustainability ratings that will be available within Net Zero Catalyst to ensure the final model accurately portrays the cost and potential carbon reduction of decarbonization measures from an enterprise-level perspective.
By bringing together a variety of voices, we were able to adjust our model to adapt to our clients’ climate goals and create roadmaps with tangible outcomes so that organizations can deliver on their promises by leveraging Net Zero Catalyst.
Through Net Zero Catalyst, our clients can access a complete software offering that facilitates net zero planning needs and accelerates their journey to net zero. We work with clients to identify, evaluate, and prioritize actionable decarbonization measures, and our results show GHG emissions reductions of 60-90% can be achieved with thorough planning. The tool also supports the development of strategies for our clients to source 100% renewable electricity. As a result, the net zero roadmaps that are developed in collaboration with our clients using Net Zero Catalyst satisfy voluntary and regulatory climate disclosure expectations and requirements, paving the way for a more sustainable future.