Public companies develop roadmap to climate neutrality

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Forética

The Action Group on Sustainability and CSR in Public Companies - led by Forética and made up of more than 30 public entities, headed by the Instituto de Crédito Oficial - begins its sixth edition by addressing the challenges and opportunities of measuring and reducing emissions throughout the value chain ('Scope 3').
This year, the Task Force will also focus on the impact of the new EU Sustainability Reporting Directive and future reporting standards.

The Action Group on Sustainability and CSR in Public Companies - led by Forética and made up of more than 30 public entities, headed by the Instituto de Crédito Oficial - is starting its sixth edition by addressing the challenges and opportunities of measuring and reducing emissions throughout the value chain (the so-called 'Scope 3') as a key action to achieve climate neutrality in public companies.

To contribute to this goal, Forética and the public companies that are part of the Action Group have configured a roadmap that will allow companies to establish an ambitious climate change strategy and be the starting point to achieve net zero emissions in those entities committed to this goal. The roadmap is also positioned as a call to action for those organizations that are less mature in this area.

The roadmap has been structured into six key actions: the establishment of a commitment to the 'net zero' objective, the consideration of climate change as a business risk, the establishment of ambitious targets aligned with science, the management of 'Scope 3' emissions, offset and neutralization measures, and the requirement for climate reporting.

Ana Gómez, Manager of the Sustainability and CSR in Public Companies Action Group highlights: "Our objective as an Action Group is to contribute to the achievement of the Sustainable Development Goals (SDGs), promoting the sustainability agenda in Spanish public companies. This year we will focus on further progress towards climate neutrality in public companies and address the challenges and implications of the new EU Sustainability Reporting Directive and future reporting standards. At Forética we see how the integration of these elements represents an important source of opportunities when it comes to responding to the new EU regulatory requirements and reducing possible risks related to sustainability, which may have an economic and reputational impact on organizations".

According to the report 'Climate and well-being: At the focus of the ESG agenda of Spanish public companies' published by Forética in the framework of the Action Group, for 67% of the companies in the Action Group, collaboration and working together with suppliers with the aim of decarbonizing the supply chain seems to them to be one of the most relevant issues to work on in order to achieve net zero emissions in their organizations.

The meeting organized with the member companies of the Action Group was attended, on behalf of KPMG, by Germán García, director of Net Zero Advisory, and Carolina Trimiño, expert in Climate Change of the Sustainability and Good Governance area, who shared in a practical and didactic way the main considerations and tools for measuring and reducing 'Scope 3' emissions, as well as the most suitable actions for the compensation and neutralization of residual emissions.

The Action Group on Sustainability and CSR in Public Companies, led by Forética and headed by the Instituto de Crédito Oficial (ICO), is made up of more than 30 member public entities: Adif, Aena, Aquavall, Barcelona de Serveis Municipals (BSM), CESCE, Corporación Empresarial Pública de Aragón, Corporación Pública Empresarial de Navarra (CPEN), Emasesa, ENAIRE, Enresa, ENUSA, Extremadura Avante, Grupo Tragsa, ICEX, INECO, Metro de Madrid, Navantia, Paradores, Renfe, RTVE, SENASA and Valenciaport. The following entities participate in the Group as observer members: COFIDES, Giahsa, the Civil Guard, ISDEFE, the General Directorate of the Police, the National Health Network of CSR and Sociedad Mercantil Estatal de Gestión Inmobiliaria de Patrimonio (SEGIPSA).

In previous editions, the Group has addressed key sustainability issues such as the commitment of public companies to the new regulatory frameworks for sustainability in the European Union, the contribution to the 2030 Agenda (with a focus on initiatives related to transparency, circular economy and corporate volunteering), the management of non-financial risks and responsible public procurement, among others.