Building a Strategy and Roadmap to Support Carbon Neutral Goal
Antea Group has been supporting the client, a global leader in audio electronics, with a variety of sustainability services since 2011, including overseeing responses to customer sustainability questionnaires and preparing annual sustainability reports and CDP disclosures. The client's sustainability efforts were limited mostly to responding to immediate needs with limited to no long-term strategy or goals.
Due to increasing customer pressures, a new CEO announced at the end of 2020 a goal of “carbon neutral by 2040 – CNx2040”. In conjunction with this new goal, he also announced the following changes in governance to support this goal:
- Creating a new strategic pillar – sustainability – with each business division and corporate function expected to set annual targets aligned with the CNx2040 goal.
- A new ESG committee was formed from members of the Senior Leadership Committee.
- Expanded the role of the Director of Government Affairs to include sustainability – specifically, accountability to achieve the CNx2040 goal.
Our client had no internal sustainability resources and recognized the need to quickly establish a strategy and roadmap to achieve the CNx2040 goal and build consensus with key stakeholders along the way.
Given Antea Group's long-standing relationship and familiarity with the client’s business, we were able to step in immediately to build the strategy and roadmap and support our client with compelling data and stories to gain stakeholder consensus.
To develop the CNx2040 strategy and roadmap, Antea Group completed the following activities:
- Developed a Scope 1 and 2 greenhouse gas inventory and Scope 3 screening
- Developed a Scope 1 and 2 decarbonization strategy, including analysis of facilities, energy usage, and corresponding emissions to prioritize carbon reduction activities
- Developed a Scope 3 emission reduction strategy that included analysis of the top 200 suppliers to identify “hot spots”, creating a supplier engagement strategy, and creating new supplier ESG scorecard criteria.
- Created a roadmap identifying carbon reduction activities through 2040 and associated reductions
- Advised on global carbon credits and renewable energy credits strategy, availability, and pricing
- Developed improved CDP disclosures, improved responses to customer sustainability questionnaires, and developed an inaugural Task Force for Climate-Related Financial Disclosure (TCFD).
- Advised on annual business targets in support of the CNx2040 goal
- Presented trainings and results of our technical work to engage with stakeholders and gain consensus on sustainability targets, carbon reduction strategies, and specific projects.
- Developed supporting executive briefing materials
Through our technical analysis, clear strategy and roadmap, and executive briefings, our client was able to quickly build trust and gain consensus among key stakeholders, leading to executive buy-in and harmonized action towards the CNx2040 goal. The new goal and supporting work provided the basis for improved CDP scores and improved responses to customer requests, leading to sales and competitive differentiation in the marketplace for the client.