There need not be disparity between small-to-medium enterprises ( SMEs ) and the multinational companies ( MNCs ) that seemingly tower above them in the race to sustainability . In fact , businesses are linked more than they realise , which is why the world is entering a more collaborative state whereby businesses become partners and goals are unified .

This is particularly so in the case of supplier and customer interactions as relationships between parties are critical in helping them build resilience and reduce their overall impact in line with all Scope emissions .

There are two factors to this . Firstly , there ’ s the understanding of the necessity and the opportunities presented to businesses when they take climate change on board as a key component of business . And several elements are to be considered here by businesses as a part of their business strategy :

• Regulatory : with increasing constraints & incentives for businesses to decarbonize coming to enforce the “ Net-Zero World ” such as the CSRD from the EU .

• Resilience : with Climate change in any case underway , ensuring healthier but also more robust business practices that mitigate associated risks .

• Competitiveness : Being in tune to existing and emerging customer demands regarding one ’ s own carbon footprint and commitment .

44 October 2023

Energy Digital October 2023 | Page 44

Schneider Electric ’ s Global Head of Sustainability shares initiatives with business ecosystem to uncover emissions