The CBI’s Sustainability Community members share key areas of focus and best practice on adapting to a changing regulatory landscape.
In a recent CBI Sustainability Community’s focus group, the Community members delved into the transition reporting as set out by the Transition Planning Taskforce ('TPT') and how businesses are overcoming the challenges regarding sustainability reporting. The key takeaways from the focus group were:
1. Don’t forget about the SMEs!
Engaging your supply chains is crucial in transitioning to net zero. Many businesses are putting off prioritising their scope 3 emissions. Instead, the best practice among the Community members is for the larger firms to be educating their supply chains and trying to get them to come on the net zero journey together.
Business also believes there is an opportunity for the trade bodies to play an important role in accelerating the SMEs’ decarbonisation. For example, for the transition planning reporting to run smoother, trade associations should be understanding and educating how these reporting requirements translate to the SMEs and what they should be preparing
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