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Climate Week takeaways: from net zero targets to real progress

Annika Perry
October 3, 2024
Climate Week takeaways: from net zero targets to real progress
Article

Climate Week takeaways: from net zero targets to real progress

Annika Perry
October 3, 2024
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Climate Week 2024 underscored the need for rapid decarbonization, innovative R&D, and effective communication strategies to tackle the escalating climate emergency

Climate Week NYC drew climate professionals from diverse industries and backgrounds, creating an inspiring (and sometimes overwhelming) atmosphere with over 900 events—50% more than last year. From the central sessions at The Nest Climate Campus to targeted events like Neiman Marcus and Trane Technologies’ Women in Climate Breakfast, the city buzzed with discussions, partnerships, and calls for urgent action. Here are our key takeaways.

Net zero goals: Setting targets is only the beginning

A recurring theme of the week was that merely having net zero goals is not enough. According to zerotracker.net, nearly 50% of large U.S. companies still lack net zero targets, while almost all companies in the EU have established them. But targets without actionable plans are insufficient. Multiple speakers emphasized that the cost of inaction far outweighs the investment in net zero initiatives. Companies need to move beyond setting goals to implementing tangible steps toward decarbonization.

Read more: The biggest sustainability trends we’re seeing right now

Storytelling to convey climate urgency

Another resonant point was the power of storytelling. Communicating the urgency of climate change requires more than technical jargon; it demands relatable narratives that can engage people from all walks of life. Storytelling, particularly through partnerships between corporations, nonprofits, and government, can drive action and raise awareness. Speakers stressed the importance of making climate messaging accessible to everyone, especially to those who consume resources but may not fully grasp the impacts. Effective communication should center on what matters most to people—clean air, water conservation, and protected nature.

Read more: 8 secrets to effective sustainability reporting

Innovation through research and development

Research and development (R&D) was highlighted as a critical tool for driving progress, particularly in decarbonizing supply chains. At a panel focused on funding, innovation, and corporate decarbonization, Subhagta Nukherjee, Vice President of Sustainability at Nokia, shared how their R&D initiatives are central to their decarbonization efforts. The message was clear: innovation at every stage of the value chain, both upstream and downstream, is essential for advancing climate solutions. R&D enables companies to adapt and scale their sustainability efforts effectively.

Reporting: A means, not an end

The conversation around sustainability reporting often focuses on compliance with frameworks like CSRD and GRI, but speakers urged companies not to let reporting become a barrier to action. While reporting is essential for accountability, it should not stifle progress. Instead, companies should strike a balance between reporting requirements and taking meaningful action toward their sustainability goals.

Read more: Rethinking sustainability reporting

Embed sustainability into the foundation of your business

The message was clear: ESG for its own sake is no longer enough. To effectively combat global warming and build a sustainable economy, climate action must be integrated into the core business strategy. This means aligning procurement, supply chain, sales, and finance teams around a shared goal. Sustainability efforts need to make business sense for long-term success. Without a strong business case, progress will be limited. For true impact, climate ambitions must be embedded across all aspects of the organization.

The time to act is now

The overarching theme of Climate Week NYC was, “It’s Time.” Climate change is no longer a distant crisis; it has escalated into a current emergency. Multiple panelists echoed the sentiment that we are running out of time to act. The urgency is undeniable, and the message was clear: It’s now or never.

For companies and individuals unsure of where to begin or how to communicate their climate actions: just start. Need help developing your climate strategy? We’re here to help. Reach out to book a meeting with one of our sustainability experts anytime

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