Actions Guide
Transparency & Disclosure
7. Transparency And Disclosure
We commit to introduce a policy of transparency and disclosure with our stakeholders and promote open dialogue and regular reporting of our challenges, decisions, activities, targets and performance.
To maintain the confidence and support of stakeholders including investors, customers, employees, and regulators, it is important to regularly disclose the progress of your climate action plan implementation. As part of your transparency and disclosure policy you should provide information on the factors and metrics used to calculate your performance. As plans often need course corrections over their life, it is important to explain what needs to be changed or improved and how the success of these changes will be measured.
Suggested Transparency & Disclosure Actions
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Use a clear and transparent methodology to identify the sources and accurately measure your organisation’s carbon footprint based on industry recognised metrics. This can be done internally by trained staff or, alternatively, by hiring a recognised carbon audit agency.
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It is important to set science-based reduction targets to add further credibility in the process. Science-based targets also helps to provide companies with a clearly-defined path to reduce their green house gas emissions using systematic and veifiable methodology. The Science Based Target Initiative (SBTi) is an organisation that can review your targets, planning and monitoring to determine if they meet their science based standards - Learn More >>
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Regularly disclose progress and highlight any changes to your targets. Every business will need to make course corrections during their decarbonisation journey. Being transparent about this only strengthens your company’s brand reputation.
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Within the company, build a culture of dialogue and openness among your staff by clearly communicating goals and, most importantly, getting regular feedback on any issues hindering progress. Issue regular internal progress reports to build confidence among all participants. The reports should be short, relevant and easy to understand.
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