Government to consider the adoption of a Net Zero Charter Mark - a mark to acknowledge "best in class" among firms in terms of their role in the transition to net zero. |
161. As firms are stepping up to the mark and decarbonising their own operations, their supply chains and proactively pushing forward the transition, it is important to recognise those efforts and allow firms to benefit from their green credentials. At the same time, investors and businesses need to be able to be confident that those green credentials are based hard metrics.
162. Firms that represent "best in class" in terms of their role in the transition should be recognised and rewarded for that. To be granted the Net Zero Charter Mark, they have to be compliant with or ahead of key standards - such as publishing their climate-related financial disclosures, publishing a transition plan with key milestones and progressing against those, and using reliable metrics and data - such as science-based targets - to ensure any disclosure is of high quality.
And they have to be recognised as stewards of the transition within their sector, pushing others along on their journey towards net zero, for example through stewardship along the supply chain. The requirements will tighten over time, as regulation becomes mandatory and firms become more sophisticated in their approach.