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Articles:

Time to decarbonise your business. Take the BDO Energy Transition Diagnostic Tool to get started

30 August 2021

Energy is a concern for everyone

With the recent release of the Intergovernmental Panel on Climate Change this month, 234 scientists from over 60 countries spent five years reviewing over 14,000 papers about climate change and have concluded categorically that global warming is human-induced.

Key findings from the report

  • We will breach the 1.5-degree Celsius ambition within 20 years even with the most drastic emission cuts
  • If we continue with business-as-usual emissions reductions, we will exceed 2-degree Celsius by 2050
  • Ice melting will continue with an expected sea level rise of up to 3 metres by 2100 even if we manage to achieve net-zero today
  • Weather extremes once considered rare or unprecedented are becoming more common and will continue even if we limit global warming to 1.5C
     

“The IPCC report is a code red for humanity. If we combine forces now, we can avert climate catastrophe. But, as the report makes clear, there is no time for delay and no room for excuses.”

[U.N. Secretary-General, António Guterres]

Climate change and decarbonisation are becoming a Board room regular and building a strategy around lowering emissions and adopting a low-carbon business model will become critical to future business resilience. Already in many countries, reporting on climate related risk is mandatory, thus the business case for dealing with climate is only growing.

At BDO, we have developed the Energy Transition Diagnostic Tool – a short 7-minute survey that aims to deliver insights and steer around how organisations are transitioning to the low-carbon economy. Participants of the survey receive a “Personalised Benchmark Report” (Sample report) that ranks their responses against their industry peers (or where not enough data is available, against the full dataset). The survey is structured around five pillars  - 

1.  AWARENESS & DEPLOYMENT - What level of awareness and deployment is your organisation in adopting renewable energy. 

2. ENERGY EFFICIENCY - What level of awareness and deployment is your organisation in adopting energy efficiency technologies. 

3. CHALLENGES & OPPORTUNITIES - What are the main challenges and opportunities around adopting renewable energy.

4. STRATEGY & COMMITMENT - How does your organisation rank against the industry in creating targets and commitments to reducing its carbon footprint.

5. MONITORING & REPORTING - How do you manage and monitor the success of the energy transition initiatives.

The path to low-carbon requires a serious effort to understanding the current situation and starting a program of accurate monitoring and tracking of carbon emissions. The migration to alternative energies will always be, in part, a commercial decision, but crucial to that is understanding the growing importance of addressing climate change. 


What NEXT?

  1. Take the BDO Energy Transition Diagnostic Tool survey
  2. Review the results with your senior management
  3. Create a strategic plan on how you can begin to lower emissions across your business.

If you need assistance, please get in touch as we work alongside energy specialists to ensure that reporting and compliance of emissions calculation/tracking is in line with global industry standards. 
 

More insights -
Energy Transition Report - Mining / Oil&Gas
BDO - Energy in Transition - Information Hub
BDO Sustainability Toolbox (Sustainability Readiness Tool / Energy Transition Diagnostic Tool)
ESG, and the business case for dealing with climate - publication


For further information, please contact -
Catherine Bell
Global Sustainability Manager,
[email protected]