Dubai, 29 November 2023 – In a new business brief published today by the World Business Council for Sustainable Development (WBCSD) Switch project, companies ABB, Accenture, Eaton and Schneider Electric, together with the BASE Foundation, Climate Group, Global Sustainable Electricity Partnership (GSEP) and Integrate to Zero explain how integrating decarbonization solutions presents a fast lane to net zero operations.
The technology behind decarbonization is maturing quickly and becoming increasingly competitive amid fossil fuel price volatility. Half of the world’s largest companies have set public net-zero emissions goals, with commitments up by more than 40% since 2022.
As shown in the brief published today, when businesses bundle and integrate decarbonization solutions, they unlock synergies and larger environmental and financial benefits, charting a faster course to ambitious renewable goals. Integrated approaches can reduce operational emissions by up to 50%, secure energy supply and optimize returns on capital investment and the risk profile of technology adoption.
Integrated decarbonization will require equally integrated business decarbonization strategies, aligning investment decisions with environmental targets and new revenue models, and coordinated policies to link building and transport technologies with the grid.
Government and business leaders will convene for COP 28 in a few days to determine the next urgent steps on the global race to net zero. They must recognize integrated approaches as a cornerstone of global decarbonization efforts, particularly in critical discussions on investment and policy frameworks needed to triple the capacity of renewable energy sources and double energy efficiency by 2030.
Anke Hampel, Group Head of Sustainability, ABB, said: “Ahead of COP 28, it is important to remember that the solutions and technology that can get us to net-zero are within reach for businesses. We call on businesses and governments to approach sustainability holistically and review financing and governance models that can accelerate the implementation of sustainability roadmaps.”
“Companies need to switch to net-zero operations to deliver on ambitious net-zero targets. An integrated net-zero pathway will help industrial leaders get there faster and roll out decarbonization strategies at scale. We stand with our Switch partners to help companies in accelerating global decarbonization efforts, and we will continue to do so through state-of-the-art carbon modeling incl. an integrated carbon modeling tool and holistic net-zero strategies,” said Wytse Kaastra, Lead Accenture Sustainability Services Europe and Utilities sector lead Europe.
“With our partners in the WBCSD Switch project, we invite business leaders from around the world to reduce their carbon emissions and energy costs by focusing on demand-side flexibility, energy resilience, and self-sufficiency to transform their buildings and facilities into integrated energy hubs”, highlighted Tim Darkes, President, Corporate and Electrical Sector EMEA, Eaton.
Vanessa Miler-Fels, VP Global Environment, Schneider Electric, said: “Business leaders have a clear, practical path to decarbonization: digital and electrification. But bold steps are needed to make this a reality, starting with embedding sustainability in all operations and preparing grids as the essential backbone to the energy transition.”
“Integrated energy is the next frontier of corporate decarbonization. Combining on-site, on-grid, and on-road solutions will reduce emissions and save money. It also provides companies energy security as they’d be far less impacted by the volatile fossil fuel markets, it builds business resilience, and opens up the potential for future revenue streams. Climate Group supports WBCSD in scoping out the corporate demand for these innovations and accelerate action in this crucial area.” commented Helen Clarkson, CEO, Climate Group.
Vincent-Michel Duval, Executive Director, GSEP, said: “The electrified, zero-carbon technologies needed to rapidly decarbonize not only exist, but they are mature and scalable. Adopting an integrated approach can go a long way in catalyzing the swift decarbonization needed to achieve climate targets and unlock further benefits for businesses and society, ranging from improved efficiency to energy security. GSEP is delighted to have contributed our unique perspective on the importance of electrified solutions to this initiative.”
“Integrating distributed renewable energy resources on-site, on-road, on-grid creates a larger, cleaner more resilient power system, quickly, at lower cost to utilities and with huge business benefits.” said Dan Hamza-Goodacre, Founder and Chief Energy Officer, Integrate to Zero.
Thomas Deloison, Director, Mobility, WBCSD, said: “Business leaders must seize the integrated decarbonization opportunity – not only to play their part in the global race to net zero, but also to realize that low carbon technologies create value for society, the planet and balance sheets. We are delighted to release the result of work conducted by a unique group of like-minded businesses and partners forming the Switch project.”
Businesses and partners of the WBCSD Switch project mobilize projects, build and share best practices, and advocate for the adoption of integrated approaches in leading events. For more information, consult our website or contact Thomas Deloison, WBCSD at deloison@wbcsd.org.
