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Climate change has a cost on the world economy. At the international level, companies must deal with these costs and institutions must apply regulations to reduce the impact of global warming.
Dire It is inevitable that climate change and the world economy are linked together. A Christian Aid* report states that:
- 15 climate disasters that occurred in 2021, including hurricanes and floods, cost an estimated 170 billion dollars;
- the European Union's Green Deal fund foresees investments of 1,000 billion euros over the next 10 years;
- 70 billion euros (or 30% of the PNRR funds) have been allocated for the ecological transition of Italian companies.
Calculate a company's carbon footprint is the first step in understanding at the corporate level the link between climate change and the economy. Embark on the path to carbon neutrality, thanks to reduction of emissions And to offsetting, is the next one.
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Carbon offsetting in Italy and beyond: a growing market
Morgan Stanley analysts predict that The market ofoffsetting It will grow to reach 35 billion dollars by 2030**. It is therefore clear that the sector has ample room for growth even in Italy, where it will involve more and more small, medium and large companies in our economic fabric.
Also citing the Covid-19 pandemic as an event that triggered a global change in the way we conduct business, Larry Fink, CEO of Blackrock, said in an interview***:”All companies and all sectors will be transformed by the transition to Net Zero. The question is: will you be a driver, or will you be carried away by it?”. In his definition of a 'sustainable capitalism', in which the value of companies will be dictated by their ability to create valuable relationships with customers, employees and investors, Fink stresses the importance of ethical choices. In the global business of tomorrow, Will companies aware of the link between climate change and the economy be successful. Back in the words of the experts the importance for companies to move in time to combat climate change, both for multinationals and for SMEs, even in Italy.
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The regulations on environment and offsetting
Those who take measures from the point of view of safeguarding the environment will not be unprepared when new policies are launched to achieve the objectives set by the Paris Agreement. In fact, the role of environmental regulations will grow. and with it the consequent penalizing benefits and forms of taxation.
Environmental and offsetting regulations could become legislative obligations, to which companies will, sooner or later, be called to respond. This is why it is important to act immediately. Show yourself willing to undertake the climate journey donates a competitive advantage for small and medium-sized businesses, which are already favoured today in commercial agreements with multinationals.
The scalability of offsetting and carbon removal projects will make it possible to compensate for more and more CO2 emissions, making Italian companies virtuous from the point of view of climate choices.
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Entering the offsetting market
If the link between climate change and the economy is twofold (on the one hand the immense resources used to combat environmental disasters; on the other hand, the advantages on the market for companies interested in ESG objectives), how do you enter the offsetting market? Carbon offsetting in Italy is linked to investments in wide-ranging certified projects, which take place mainly abroad and in particular in developing countries.
The dissemination of projects certified by third parties, among which stands out Verra, and technological progress in the experimentation and application of new forms of CO2 capture is increasing certified carbon credits in the world. Come Ente which promotes projects of this type, we offer to guide you on the climate journey. Contact us to learn about all the opportunities that await you and become a sustainable company.
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