Evershed Sutherland: Carbon Reduction - Nice to have, legal requirement or commercial necessity?
Eversheds Sutherland, a valued partner of Host In Ireland, recently hosted a Chew & Chat session for Host in Ireland partners looking at ‘Carbon Reduction – Nice to have, legal requirement or a commercial necessity?’
The following are some of the highlights and links from the discussion which may be of interest.
The Climate Action Plan 2019. This holistic Government policy looks at carbon reduction from all aspects of society – electricity usage, the built environment, enterprise, waste, agriculture and transport. Companies can either take the lead on CAP 2019 or it will be imposed on them. Either way, your investors, shareholders, customers and staff are increasingly demanding green. There is an opportunity here to be an industry leader and gain competitive advantage.
Companies such as Microsoft are not only looking at its own energy usage (Scope 2), but also emissions that are indirect, embedded in the materials and services the business uses, representing the emissions of the full supply chain (Scope 3).
Statutory provisions are coming. Businesses will be measured on building products that can be used, Carbon Usage Disclosures for quoted UK companies, ESG requirements of investors and Nearly Zero Energy Building Standard (NZEB).
As a starting point, it is important to gain an understanding of your company’s environmental impact. There are a number of organisations that assist with this process, CDP being a significant one that we are aware of. CDP runs a global disclosure and scoring system for investors, companies, cities, states and regions to manage and improve their impact. CDP has an Irish branch that involves John Barcroft of Environmental Edge. John is a highly active environmental consultant in this space.
In this briefing, they examined how Data Centres could play an active role in Ireland’s decarbonisation solution through the use of Corporate PPAs.
Eversheds Sutherland also recently released a Decarbonization of Corporates report. Prepared jointly with KPMG, this study is based on quantitative and qualitative data collected from more than 500 C-suite interviewees and survey participants.
If you would like to receive briefings and alerts from Eversheds Sutherland going forward, please contact them to be added to their mailing lists.
Host in Ireland would like to take this opportunity to thank Eversheds Sutherland for their ongoing support and partnership.