Under the European Commission’s proposal, a large number of companies will – probably – be excluded from the mandatory framework of the CSRD. Yet climate change remains one of the greatest challenges of our time. And even without the SFDR and other mandatory non-financial reporting guidelines, companies still have to address ongoing developments in current and future CO2 prices, rising energy costs and regulations in international markets. Customers, consumers and employees continue to put their trust in companies that are serious about the environment and make concrete commitments. And it’s important to remember that the financial sector is pressing companies to produce transparent information on their climate and environmental performance – for potential investment decisions, among other things. myclimate can offer you guidance on meeting these requirements and positioning yourself to your strategic advantage.
Doing nothing will cost companies significantly more than investing in the future, in sustainability and climate protection. According to a recent study (in German) by strategy consultancy Boston Consulting Group and the World Economic Forum (WEF), by 2050 climate change risks could cut profits alone by up to 25%. At the same time, climate change adaptation measures, and investments in “green technologies” in particular, represent outstanding business potential. The WEF Global Risks Report also shows that the greatest business risks (over a period of ten years) are in the area of the environment. These two reports echo a large number of studies that call for companies to actively address their own climate impact and climate-related risks. Forward-looking companies now have a great opportunity to position themselves robustly in the long term and to take important measures without excessive bureaucracy and regulatory pressure.
myclimate would be happy to assist you in selecting and implementing these measures in your company.
We work with you to calculate your carbon footprint in our myclimate EcoCloud. This includes emissions from Scope 1, 2 and 3. This data shows where the emissions in your company come from and offers a starting point for effectively reducing them. It also represents elementary information for banks and insurance companies, which are subject to the Sustainable Finance Disclosure Regulation (SFDR) and can request ESG data from you. Large companies that remain subject to CSRD reporting also have to query their suppliers and business partners about their greenhouse gas emissions. The ability to provide your customers with this data promptly and in the required form positions you as a reliable supplier.
In addition to the CCF, we also calculate the carbon footprint of products and services. Customers are increasingly using this information as a decision-making criterion, particularly in tenders. These calculations can be highly time-consuming and resource-intensive – especially when you are dealing with a large number of products. The myclimate SmartPCF solution allows you to very quickly develop a robust footprint calculation across a wide range of products.
A climate strategy identifies your long-term path to net zero – in other words, your contribution to the achievement of global climate targets. Our modular services support companies by jointly identifying risks and opportunities for each business model, deriving targets and developing measures for avoiding and reducing greenhouse gas emissions.
The Net-Zero Standard of the Science Based Targets initiative (SBTi) offers companies the world’s first framework for setting net zero targets. Through clear requirements, the SBTi enables companies to set ambitious climate targets in line with current climate research findings and the targets of the Paris Agreement. The SBTi offers companies a credible platform on which to publicly position themselves as business pioneers in the fight against climate change. You can find more information here.
The transition plan is part of the European Sustainability Reporting Standards (ESRS). A transition plan describes a company’s climate protection measures. It details how a company can adjust its strategy and business model to ensure the transition to a sustainable economy and limit global warming – in accordance with the Paris Agreement or another updated international climate agreement. We would be happy to support you in this task as part of our climate strategy consulting.
The principle of climate risk analysis forms part of the EU taxonomy regulation. A climate risk analysis helps forward-looking companies prepare for potential risks arising from climate change, even if they’re exempt from direct reporting obligations. It provides a valuable opportunity for intensively examining and classifying the impact of future climate conditions on business activities. As well as identifying possible risks, this process also defines steps for adapting to climate change. This enables you to develop timely and effective strategies that minimise or even avert potential damage. Climate risk analysis helps make business activities more resilient to the challenges of climate change. It provides the basis for controlling and reducing the costs associated with the changing climate.
The VSME was originally meant to provide non-reporting companies with a voluntary framework for collecting and communicating their own environmental data. Following changes to the CSRD, the VSME is becoming increasingly important as a framework for collecting data and sharing it with relevant stakeholders in a consistent form. The VSME is far more streamlined than the CSRD, with only around a tenth of the data points required by the ESRS. And the double materiality assessments included with the CSRD are not mandatory. However, it’s often advisable for companies to carry out these assessments regardless, in order to gain an overview of the actual impacts, risks and opportunities. In future, the VSME will be a clear selection criterion for suppliers to large companies and for interactions with financial institutions.
These and other services will help you prepare for the future and fulfil a range of internal and external needs. Feel free to contact us for a no-obligation consultation.
