Competitive Advantage Is the Top Motivator for Tackling Corporate Emissions

News provided by

Sep 12, 2024, 09:00 ET

Survey from Optera reveals corporate priorities and practices for emissions reduction efforts

BOULDER, Colo., Sept. 12, 2024 /PRNewswire/ -- In its second annual survey of corporate sustainability leaders, ESG and carbon management software provider Optera reveals that corporate sustainability efforts have made remarkable strides over the past year. All surveyed executives have either implemented sustainability initiatives or are actively developing plans.

More than 75% say the opportunity for product or brand differentiation is a top motivator for tackling corporate emissions. Shoring up business practices for a low-carbon future ranks second.

"The survey results clearly demonstrate that sustainability is no longer just a buzzword, but a core business strategy," said Tim Weiss, Optera CEO. "Companies that can gather and take action on quality emissions data will separate themselves from their competitors."

The survey also reveals that emissions reporting, verification and science-based target setting are rapidly becoming standard practices.

91% of respondents report emissions either publicly or to regulators and customers.
75% have their emissions verified by a third party.
73% have set a science-based target.

Scope 3 emissions are the next frontier in corporate decarbonization. Nearly half of surveyed companies have set ambitious Science-Based Targets (SBTs) that encompass their supply chain emissions, and 70% are actively working across their value chain to help suppliers decarbonize. Seven in 10 would like to use product-level emissions data to inform supplier and procurement decisions.

"Addressing supply chain emissions is critical to meeting overall sustainability goals. The commitment to decarbonization is reshaping supplier relationships and procurement strategies," said Weiss.

This year's survey also showed persistent data management challenges, with 40% of respondents citing data gathering as the most challenging aspect of adherence to climate regulations. The number rises to 55% for companies with revenues above $10 billion, highlighting a significant pain point in emissions management for enterprise organizations. Notably, 60% of respondents indicated an interest in using AI (with human oversight) for report generation and forecasting decarbonization impacts, reflecting a growing interest in AI approaches to the complexities of emissions reporting.

Optera's survey sought to provide a comprehensive overview of trends, priorities and obstacles in corporate environmental responsibility to help organizations understand their position in relation to their peers. The survey of corporate sustainability leaders was conducted in partnership with leading B2B market research firm NewtonX.

Access the full trends report here.

About Optera
Optera is the carbon management software for bold climate action. Built on decades of sustainability expertise, Optera helps corporations worldwide reduce their environmental impact by providing credible carbon accounting for Scope 1, 2, and 3 emissions, actionable insights and forecasts, and tools to collaborate with supply chain and investment partners. Our clients lead many of the world's most established and ambitious corporate sustainability programs, from Dell and HPE to Grove Collaborative and Williams-Sonoma. Optera also partners with leading NGOs such as BSR, CDP, and the World Economic Forum to advance corporate ESG practices globally. Optera is registered as a Public Benefit Corporation in the State of Delaware.

Media Contact
Julia Hockman
PANBlast for Optera
317.806.1900 x162
[email protected]

SOURCE Optera