Breaking down the barriers to climate action

Scaling up the development, provision and adoption of renewables requires a huge, collaborative effort from governments, businesses, regulators, investors, and consumers. This involves significant investment in grid infrastructure, and faster planning and permitting to provide the land needed to generate the power. Energy storage capacity should be expanded at pace, along with incentives to accelerate innovation of all relevant renewable technologies.

Many of the raw materials needed to drive the green revolution are in short supply, while extraction – along with construction of renewable facilities – carries risks to nature and biodiversity. The renewables industry itself may be vulnerable to climate change, so any solutions must attempt to build resilience to ensure a ready future supply of clean energy for all nations, rich and poor.

As biodiversity become a growing priority, businesses are learning more about how their operations affect the natural world – and what they can do to mitigate any negative impacts. Driven by the Taskforce on Nature-related Financial Disclosures (TNFD), regulators are increasingly asking organizations to incorporate both climate- and nature-related risks into their reporting.

Understanding the requirements of both the TNFD and the TCFD (Taskforce on Climate-related Financial Disclosures) is essential, to satisfy regulators, investors, customers, and other stakeholders. Boards are under significant pressure to address environmental issues and need to grasp the implications of climate and nature risks and opportunities. We recommend an integrated approach, to embed sustainability and evolve to a circular, climate- and nature-friendly business model.