In order to achieve ambitious national and global net-zero goals and mitigate climate change, business sectors across the world will need to undergo fundamental change.
Introduction
In order to achieve ambitious national and global net-zero goals and mitigate climate change, business sectors across the world will need to undergo fundamental change. But as we progress through a critical decade of implementation, are they on track, how is progress toward decarbonization being achieved, and what can be done to accelerate it?
Economist Impact’s Decarbonization Progress Benchmark
To answer these questions, Economist Impact’s Decarbonization Progress Benchmark evaluates the decarbonization trajectory of the Energy, Manufacturing, Financial Services, and Retail sectors across North America, Latin America, Europe, and Asia. 160 of the largest firms by market capitalization were assessed across four pillars of progress: Corporate governance and public commitments to reaching net-zero emissions, Operational decarbonization efforts, Value chain decarbonization efforts, and Social sustainability and just transition initiatives.
Assessment of Progress
The assessment evaluates the progress made by business sectors in achieving decarbonization goals. It focuses on four key pillars:
- Corporate governance and public commitments to reaching net-zero emissions
- Operational decarbonization efforts
- Value chain decarbonization efforts
- Social sustainability and just transition initiatives
Regional Analysis
The assessment covers business sectors in North America, Latin America, Europe, and Asia. It provides insights into the progress made in each region and identifies areas where acceleration is needed.
Key Findings
The assessment reveals where decarbonization progress is being made and highlights areas that require further attention. It serves as a guide for businesses to understand their current standing and take necessary steps to keep up with the decarbonization efforts.
SDGs, Targets, and Indicators
1. Which SDGs are addressed or connected to the issues highlighted in the article?
- SDG 7: Affordable and Clean Energy
- SDG 9: Industry, Innovation, and Infrastructure
- SDG 12: Responsible Consumption and Production
- SDG 13: Climate Action
- SDG 17: Partnerships for the Goals
The article discusses the need for fundamental change in various business sectors to achieve ambitious net-zero goals and mitigate climate change. This aligns with SDG 7, which focuses on ensuring access to affordable, reliable, sustainable, and modern energy for all. It also relates to SDG 9, which aims to build resilient infrastructure, promote inclusive and sustainable industrialization, and foster innovation. Additionally, the article mentions the importance of responsible consumption and production (SDG 12), climate action (SDG 13), and partnerships for achieving the goals (SDG 17).
2. What specific targets under those SDGs can be identified based on the article’s content?
- SDG 7.2: Increase the share of renewable energy in the global energy mix.
- SDG 9.4: Upgrade infrastructure and retrofit industries to make them sustainable.
- SDG 12.2: Achieve sustainable management and efficient use of natural resources.
- SDG 13.2: Integrate climate change measures into national policies, strategies, and planning.
- SDG 17.16: Enhance the global partnership for sustainable development.
Based on the article’s content, the targets mentioned above can be identified. These targets focus on increasing the share of renewable energy, upgrading infrastructure and industries for sustainability, achieving sustainable resource management, integrating climate change measures into policies, and enhancing global partnerships for sustainable development.
3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?
- Corporate governance and public commitments to reaching net-zero emissions
- Operational decarbonization efforts
- Value chain decarbonization efforts
- Social sustainability and just transition initiatives
The article mentions four pillars of progress that were assessed to evaluate decarbonization trajectory: corporate governance and public commitments to reaching net-zero emissions, operational decarbonization efforts, value chain decarbonization efforts, and social sustainability and just transition initiatives. These pillars can serve as indicators to measure progress towards the identified targets.
4. SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 7: Affordable and Clean Energy | Increase the share of renewable energy in the global energy mix (SDG 7.2) | Operational decarbonization efforts |
| SDG 9: Industry, Innovation, and Infrastructure | Upgrade infrastructure and retrofit industries to make them sustainable (SDG 9.4) | Operational decarbonization efforts |
| SDG 12: Responsible Consumption and Production | Achieve sustainable management and efficient use of natural resources (SDG 12.2) | Value chain decarbonization efforts |
| SDG 13: Climate Action | Integrate climate change measures into national policies, strategies, and planning (SDG 13.2) | Corporate governance and public commitments to reaching net-zero emissions |
| SDG 17: Partnerships for the Goals | Enhance the global partnership for sustainable development (SDG 17.16) | Social sustainability and just transition initiatives |
Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.
Source: impact.economist.com
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