Each year the Coalition releases an annual snapshot report which shines a light on signatories’ individual and collective progress in delivering on the Coalition’s Statement of Ambition.
The last annual snapshot report was released in October 2021 and revealed that signatories have committed a collective $9.5 billion for investments in reducing emissions from their business operations over the next five years. Signatories also reported a collective $750 million investment in developing products or services to reduce end-user emissions over the same time period.
The report also showed that 51 signatories reduced their gross emissions over the past year. Where we were able to compare signatories that have reported in two consecutive years, collective overall scope 1 and 2 emissions were down by 7 per cent. The fourth anniversary snapshot report is due to be released in September 2022.
Supporting signatories to build their collective capability
We continue to look for ways to facilitate opportunities for signatories to build their collective capability.
Over the coming year we have three main workstreams to support signatories to make faster progress towards meeting the new Statement requirements.
In March 2022 we launched the Coalition’s mentoring programme. This is an opt-in programme that enables signatories to mentor or be mentored by other signatories on areas to advance their organisation’s climate action. This allows for peer-to-peer support.
Adaptation working group
In March 2022 we established a joint adaptation working group with the Sustainable Business Council. The group is co-chaired by IAG and brings together 17 organisations who are working to define what adaptation means for business, raise the profile of business adaptation, and increase adaptation capability across the membership.
In April 2022 we launched the Coalition’s Masterclass series. This once a month online workshop is led by a signatory to help others make faster progress on their area of expertise. These are focused on topics that enable signatories to build capability, support achievement of the Statement of Ambition requirements and advance their climate action.
We continue to work with the Sustainable Business Council to promote the need for cross-party support for effective policy that provides the certainty that businesses and communities need to invest and transform. This will be particular important in the year ahead, with a General Election due in 2023.
The Coalition also submits to the Government and government agencies on climate-related issues. Most recently, this has included joint submissions with the Sustainable Business Council on the Draft National Adaptation Plan and the Emissions Reduction Plan discussion document.