CDP is not only a disclosure and evaluation platform for corporate environmental performance, but it’s also a blueprint for organizations to incorporate strong action. CDP’s climate questionnaire is a shining example for companies, representing climate best practices, for which the scores are incentivized accordingly. So much so that, for a company responding to CDP’s climate questionnaire for the first time, it is a wonderful learning experience to establish climate initiatives and start taking measures in their business operations including their value chain.
Companies can either access and respond to CDP’s climate questionnaire as a self-selected company or are asked to respond by their customers in the downstream value chain or by capital markets signatories. However, both types of responding companies can face a hurdle of lack of awareness and specific competence on climate-related metrics. Companies that are smaller in size, in particular, may have little or no experience in climate-related matters and find it relatively challenging to implement the elements of CDP’s climate change questionnaire. It comes as no surprise when we see no or little board competence on climate-related matters in these companies.
Identification of climate-related physical and transition risks and climate opportunities; and building a scenario narrative and business strategy around the same can be overwhelming at times for smaller companies; or those reporting for the first time.
Developing a robust GHG inventory can be a time-consuming process for professionals bestowed with the responsibility in such organizations. These tasks are often additional to their main job responsibilities. These are some of the incidental challenges that many face while responding to the climate questionnaire. As a result, some of these companies report their climate impact on an ‘as-is’ basis or they don’t report at all and further fall behind in today’s business environment. Pragmatically, where the potential is immense and there is considerable room for improvement, especially, for such companies in developing nations, morally, it is our collective responsibility to engage with such companies to initiate action.
Now, since one aspect of the challenge is lack of expertise for such companies, CDP’s Accredited Solutions Providers (ASP) can help. EKI, a gold-accredited ASP for CDP, provides end-to-end support to companies to appropriately and accurately disclose their climate action and address their stakeholders (eg customers, investors and the public).
Realizing the bigger picture of corporate climate action, we begin our consulting assignment by capacity building and sensitization for our client across all management levels. We start with board-level training on climate-related issues and build their commitment and competence. We understand that, embedding climate action in day-to-day operations and organizational policies is a must. Therefore, we support companies in designing policies and guidelines for climate commitment, risk management, sustainable procurement, green supply chain and more.
Our team of experts helps companies to integrate TCFD recommendations, ranging from having a proper governance and management framework and identification of climate risks and opportunities, to conducting climate scenario mapping and analysis and establishing the right metrics and quantifying the financial impacts. Additionally, in consultation with the top management, we help companies in designing a carbon neutral or net-zero roadmap highlighting the capital and operational expenditures required to take emissions reduction measures. Over and above, we help companies to arrive at an appropriate carbon price that can fast track their climate goals, secure funds and better manage the risks.
Our team of corporate greenhouse gas (GHG) analysts helps builds a comprehensive GHG inventory (carbon footprint) for companies covering all emission categories (Scope 1, 2 & 3) using internationally accepted standards and databases. One of our core strengths lies in developing a robust Scope 3 emissions inventory for companies (eg supply chain emissions for manufacturing companies, portfolio or financed emissions for financial institutions), where many face a challenge. We serve both manufacturing and services sector entities of all sizes, covering almost all the sectors, globally.
Being one of the largest global players in Voluntary Carbon Markets (VCMs), we provide comprehensive services for carbon offsets like development and management and investments; and we supply a variety of market-based instruments (eg CDM, VCS, GS CER, GS VER, IREC, GS IREC, TIGR, SD VISta, REDD+) helping our clients to meet their most ambitious climate goals. At EKI Energy Services, we believe that carbon credits are an imperative and integral part of any climate-positive plans, given their capacity to influence GHG emissions; and voluntary carbon markets, which play a significant role in providing climate finance, demonstrate tremendous potential for impact and action.
On top of this all, EKI develops and implements climate engagement strategy for value chain partners, including suppliers and customers. Our consulting association with companies looking for help with their CDP disclosure ensures a mature and enhanced output. Our aim is not to ensure an improved score but to assist companies in integrating climate action into their business and thus contributing our and their bit in the climate fight.
