Policymakers are enacting sustainability-focused statutes faster than ever before and that is expected to significantly increase after COP21. The EU is an example of how a political structure can become an agent of change and drive the response to climate change. EU is considered to have the most extensive environmental laws of any international organization. As a result, average emissions of the 28 member states that make up the EU have declined by 12.2 percent compared to base-year levels. The EU has overdriven its commitments by approximately 236 metric tons of CO2-equivalent per year (5.5 percent of base-year emissions).
Challenge: It can be extremely difficult for companies to know the rules they need to comply with in every region they operate. And the complexity is set to compound with a new wave of rules and regulations.
Solution: Monitor the legislative landscape or partner with an expert that knows the terrain, and engage with policymakers who are catalysts for positive change. While complex, sustainability reporting shouldn’t be an albatross. It takes a pragmatic approach that combines the right people, perspective and technology. As attitudes and the marketplace continues to evolve, and the demand for social responsibility reaches critical mass, sustainability initiatives and reporting will deliver dividends and a competitive advantage to companies that lead the pack.
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