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 Snapshot Report was released in November 2022 and showed that business focus and investment into climate action is proving resilient despite a challenging economic environment.
The report showed almost all signatories have re-affirmed or increased their planned investment against last year’s collective commitment to invest $9.5 billion over a five-year horizon to reduce emissions.
The report also showed that 57 signatories reduced their emissions on last year and attributed this to a range of measures including a reduction in employee land and air travel, reduced fleet size, fuel use and EV and hybrid uptake, and improved energy efficiency and use of renewable electricity.
Other key facts from the Snapshot Report include:
• 63% of signatories have an emissions reduction target that is consistent with keeping future warming within 1.5 degrees, while a further 3% are climate positive
• 98% of signatories are supporting suppliers to reduce their emissions
• 99% of signatories are supporting their people to reduce their emissions
• 51% of signatories have assessed and disclosed their climate change risks, while a further 26% are working on it.
Signatories individual climate action achievements are also detailed in our news and case studies section.
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.
“I have found the mentoring programme helpful and I am very grateful for my mentor’s time and deep knowledge. We shared our ideas for reducing our carbon footprints as services businesses and we were able to contribute some too!” Coalition mentee
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.
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.