Hey everyone! Luke (CCO) here writing about how Day 2 has been at New York Climate Week! This morning we joined our network at the Nest, meeting with dozens of other sustainable tech entrepreneurs, sustainability managers/directors, and practitioners looking for solutions. It’s been a fully packed day following a later evening networking with senior sustainability officers, from private backed businesses to larger enterprise. Consistently the messaging seems to come back down to, “I’ve limited resources and time with high board expectations”, “there are too many competing standards, regulations, frameworks and I’m not sure how to be optimal or efficient in preparing the data”, “data looks complex, and I can’t continue or even afford to pay for abstract consulting or tech solutions”.
Solutions, solutions, solutions, seem to be a dominant requirement, where these businesses – from marketing to healthcare, fashion to lifestyle, banking or insurance, extractive resource industry or big/small tech – have the will, but need something long term to work against.
We heard inspiringly from the keynote conversation with two prominent US climate action leaders: Governor Jay Inslee of Washington and Marcene Mitchell of the World Wildlife Fund (WWF). Governor Inslee, known for his bipartisan climate initiatives, discussed his experience leading efforts to combat climate change. Marcene Mitchell, a seasoned climate advocate, shared WWF's work in accelerating climate solutions and supporting people and nature. This feels crucial, given the US, the world’s largest financial market still has not adopted a clear SEC rule on climate disclosure for simple scope 1 and 2 metrics. Even when I compare the UK, a comparably mature sustainability disclosure market, this year nearly half of listed companies had to roll back on their sustainability commitments made. This shows the clear need and value for internal controls over anything a company is doing.
Though Rio’s commercial team have been attending most of the fringe and main stage events at Climate Week, today it was most compelling to hear from the UK’s own, UN High Level Champion, Nigel Topping, and sustainability leaders like IKEA and Volvo, on this very urgent need for immediate climate action. The important role for corporates is to commit and take action, by adopting strategies for a circular economy and procuring renewable energy. While there are challenges, we must focus on those existing realistic opportunities for accelerating climate solutions. That’s why we must focus on engagement with the global energy sector and create a compelling, collaborative transition strategy with a long term 2050 and 2100 timeline. It feel’s possible.
We have a packed agenda which we’re excited about. If you’re in town and want to meet with Rio’s Commercial team, drop us a message, we will be at The Nest Tues-Thurs and fringe sponsored panels and events Monday-Friday.
Luke