Rossella Cardone, our Sustainability Director, joined the 2023 Financial Times Climate Capital Live event to talk about the practical steps for companies to plan effective transitions to net zero.
As businesses, we have a responsibility to all our stakeholders – from the public to the planet – to hold ourselves accountable to our commitments, develop a decarbonisation transition plan, and inform on progress.
Following the event, we asked her for five takeaways for businesses if a carbon net zero target is to be more than a promise.
1. It is critical that sustainability ‑ and Net Zero targets ‑ sit at the heart of your business strategy. The latest Edie.net Sustainability Business Leadership Survey found that only 63% of chief executives were ‘very engaged’ with the topic. Sustainability must be a driver of decision‑making, not just a considered after‑thought.
At Jaguar Land Rover, we want to be carbon net zero by 2039 and we have a clear decarbonisation pathway aligned to our ambitious science‑based targets (SBTi) for 2030 across the full value chain. This includes our own operations, our supply chain and use phase of our vehicles.
2. It needs to have a seat in the boardroom and Board oversight, so that all the executives are mobilised to deliver against the commitments as a united team. At JLR, recurrent Board oversight ensures visibility on sustainability progress, updates and unity approach to move along our climate and sustainability transformation.
3. You can’t do it alone. Collaboration and strategic partnerships with leading businesses and innovators is key to helping solve problems and accelerating progress. It’s why we’re part of the Ellen MacArthur Foundation – driving our learning, enabling cross‑sector programmes, and acting as a catalyst to circular innovation, for example.
We believe in the power of the collective: sustainability is a focus area of our Open Innovation programme, that seeks to promote collaborations with leading start‑ups.
4. You can't do everything at once. Prioritise the areas you can have immediate impact today and don’t just plan for tomorrow. A credible plan, demonstrating what you can change in Scope 1, 2 and 3 across the entire value chain. Consistent with Point 3, working with your supply chain partners at every step is essential to find aligned decarbonisation roadmaps. For instance, at Jaguar Land Rover we asked our 5000+ suppliers to aim for carbon net zero and align their climate reduction targets and actions to the science‑based targets.
5. Having a headline target is hollow unless you establish clear monitoring and tracking of your progress. You have to be accountable and keep your stakeholders informed. A report by the Office National Statistics in the UK from 2022, found that just 23% of businesses publish an annual sustainability report. Organisations like SBTi define and promote best practice in science‑based target setting, helping you with the step‑by‑step annual commitments necessary to transform to a net‑zero business.
Carbon net zero is a transformation journey and we must not underestimate the scale of the challenge. As organisations, businesses, governments and citizens, we all have a part to play. There will be bumps along the way, and unforeseen challenges. These are all reasons why it is important to start today and have concrete plans integrated in the business.