Will you see Opportunity in this Deloitte Study on the rise of Sustainability?

A few key takeaways from this article on a 2022 Deloitte study:

 

• Climate change is now in 78% of corporate reports; 2.5x the 30% in 2021

 

• 90% are now addressing TCFD (Task Force on Climate-related Financial Disclosures)

 

• 82% disclosed at least some Scope 3 emissions (which impacts SME vendors)

 

• An additional 16% plan to report on Scope 3 (meaning, by next year, 98% will be asking their vendors to report on carbon emissions)

 

• 90% reported their purpose, up from 41% five years ago

 

• 100% incorporated the importance of employee wellbeing

 

If you are a SME and thinking, “This is not going to impact me; it is only happening in big companies”, read the Scope 3 bullets again.  For an organization to report their Scope 3, they need carbon emission data from their vendors (which is the vendor’s Scope 1).  If you are a vendor to a large company, your phone is going to ring.  They are going to want to see your carbon emission data, want you to prove you are pursuing a sustainability program, and want to see that you have a carbon reduction/neutrality plan incorporated in your sustainability plan.

This is an opportunity for SMEs looking to take market share.