Impact
Koskela has joined the Science Based Targets initiative
Koskela has joined the Science Based Targets initiative
This is the next step in Koskela’s journey to Absolute Zero greenhouse gas (GHG) emissions by 2030.
The first step, achieved in September 2020, was becoming carbon neutral. Every year, the Koskela organisation measures our total GHG emissions – for scopes 1, 2 and 3 – and offsets them. Offsetting means that we invest in projects that remove as much GHG from the atmosphere as Koskela emits. The projects we offset with are Aboriginal Carbon Fund and Nuziveedu Seeds Wind Power Projects.
GHG offsetting has rapidly been adopted by organisations worldwide as a strategy for reducing environmental impact. Offsetting is effective in theory; however, regulation and oversight are lacking, leaving the effectiveness of some projects and the quality of some offsets in doubt. While Koskela continues to offset, our goal is to reduce our GHG emissions to absolute zero by 2030, meaning the organisation will not emit any GHG emissions by the end of this decade. It is an ambitious goal to achieve in a short period, but this is crunch time; failure to act now will see the global temperature rise well beyond 1.5°C with catastrophic consequences.
We are in the decisive decade. It's time to accelerate climate action.
Annually measuring Koskela’s GHG emissions gives us a clear picture of how we are tracking, and the steps we need to take to achieve our goal. So where do science-based targets come in? This initiative keeps Koskela accountable to reduce our GHG emissions in line with the goals of the Paris Agreement: limiting global warming to well-below 2°C above pre-industrial levels and pursuing efforts to limit warming to 1.5°C.
What they say:
Science-based targets provide companies with a clearly defined pathway to future-proof growth by specifying how much and how quickly they need to reduce their greenhouse gas emissions. The Science Based Targets initiative (SBTi) champions science-based target setting as a powerful way of boosting companies’ competitive advantage in the transition to the low-carbon economy. It is a collaboration between CDP, World Resources Institute (WRI), the World Wide Fund for Nature (WWF), and the United Nations Global Compact (UNGC).
Fit for the future
The journey of reducing GHG emissions to zero is a challenging one and offsets can provide an easy way out. By joining the SBTi, Koskela must annually report on how we are tracking against our targets. There are so many complex decisions to make to get us to absolute zero, which we're currently working through. We anticipate having a comprehensive sustainability action plan ready for release shortly.
By acting on emissions reduction now, Koskela is ensuring the smoothest possible transition to the low-carbon economy, while preserving ecological stability. Our ambitious goal will spur innovation in products and technologies, new ways to source materials and new ways to expand markets. Today, the global market for low-carbon goods and services is worth more than $5.5 trillion and is growing at 3 percent per year.
Most of the global GHG emissions are either directly or indirectly influenced by the corporate sector. Companies have a clear role to play in protecting our climate and ensuring that the transition to a low-carbon economy is smooth and prosperous!
