The year 2021 was about ambition setting. The number of companies establishing science-based targets for decarbonisation had strongly increased since 2015, but it rose dramatically from 2020 to 2021, in the run-up to COP26, the United Nations Climate Change Conference.
In the Middle East, the UAE and Saudi Arabia are leading the decarbonisation conversation with pivotal government initiatives that encourage businesses to reduce their carbon footprint. Now, 2022 and beyond will be about delivering on and monetising those ambitions.
The world will eventually get to net zero, but the critical issue is getting there in time to limit global warming to 1.5 degrees Celsius. The urgency is real, reaching net zero by 2050 requires halving emissions between 2020 and 2030.
Many CEOs feel overwhelmed as they face the impacts of climate challenge. They are trying to pursue their decarbonisation targets during a period of uncertainty. They are grappling with ways to make an orderly carbon transition amid an unsettling geopolitical atmosphere, chronic supply chain disruptions and rampant inflation.
To translate ambition into delivery, companies need to adopt a mindset that we call visionary pragmatism and get five things right.
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