1. Prioritise

PRioritising Net Zero: Why and How

In Spring 2020, Oxford Net Zero convened a series of online discussions between actors and networks setting “net zero” targets and scientific experts who agreed on a minimum criteria for taking part in the global Race to Zero campaign of the United Nations Framework Committee on Climate Change High Level Champions Team.

It was agreed that prioritising net zero plans as formal, top-level commitments and setting interim targets are key criteria for joining the Race to Zero. To help organisations make such a top-level commitment, this page includes resources for prioritise their net zero plans including:

• Education tools to bring to other people in your organisation as to why net zero targets are an important business choice (if you are at the start of your net zero path);
• Tools for boards’ management of net zero targets;
• and investor reports on best standards in corporate carbon management;
• and much more…

Many businesses don’t realise yet that the value of their business will soon be tied to their ability to set and prioritise a strong climate target. Just a few years ago Environmental and Social Governance (ESG) was an afterthought or a side note in business reviews, reporting and valuation. Now businesses without ESG are valued at least % less on average than those with strong ESG priorities and a net zero climate target is the next frontier. Almost 50% of the world is now under a jurisdiction which has either set or is in the process of setting a net zero target. This means that in addition to business value, aligning with net zero will soon be law in many countries, and businesses who prioritise net zero now will be seen as climate leaders with many of the opportunities that come with early adoption of climate targets while others will struggle to catch up to regulation.