By: Pia Zevallos - Libélula's General Manager
As we close 2023, it is time to rethink our contribution to the future of the planet. The climate change clock is ticking, and our actions as business leaders will be decisive. Now is the time to set clear climate action resolutions for 2024 with the conviction that every decision we make counts.
The science is clear on climate change. The average temperature increase is already 1.2°C above pre-industrial times and we need to cut emissions in half in 6 years. In addition, there is evidence of a reduction in global “circularity”: from 9.1% in 2018 to 7.2% in 2023. This means that more than 90% of materials are wasted, lost or unavailable for reuse (Deloitte, 2023).
According to the Latin American Business Climate Action Report, developed by Libélula, 87% of the companies surveyed have taken some climate action and 69% are measuring their emissions. However, only 30% have a Climate Action Plan to organize and direct their actions towards their decarbonization goals, and an even smaller percentage (22%) have analyzed their risks in the face of climate change. How can you know if your company's climate action is up to the context we are living in?
Before setting goals and a route to follow, it is essential to carry out a thorough internal diagnosis. This involves evaluating the progress made to date, not only to know the starting point, but also to assess and communicate the progress made. Likewise, to take advantage of opportunities, seek guidance and references, focus efforts and resources, establish alliances, prioritize tasks and indicators, and identify what new skills are required. The self-diagnosis of climate maturity should not be a one-time event, but a continuous process.
2024 must be a year of clear and transformative resolutions. Let us set goals that transcend the boundaries of convention. From significant emissions reductions to the full integration of circular practices, involving our entire value chain, our resolutions must reflect our companies' unwavering commitment to a sustainable future. Innovation must be our catalyst for change. Furthermore, let us commit to transparency and accountability. Let us regularly communicate progress toward our climate goals.
Let us forge a legacy this 2024 that transcends our companies and defines our positive contribution to the world. The challenge is monumental, but so is the potential of companies to transform.
