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Edge leveraged this baseline to develop a vision to kick-start Vicinity’s circular economy journey. Through a series of workshops with input from the Vicinity team, this vision informed the development of a roadmap with strategic focus areas and prioritised initiatives to achieve over the next three years.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"\nCo-design between a diverse mix of teams including marketing, sustainability, operations, and leasing was essential in fostering communication, engagement, and a sense of ownership.","spans":[],"direction":"ltr"}],"image":{"dimensions":{"width":8000,"height":4500},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/6577b4ab531ac2845a25ec8d_VicinityCentres_CaseStudy_2023_R1_JK8.jpg?auto=format,compress","id":"ZXe0q1MawoRaJeyN","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"imagePosition":"Right","showMiddleBorder":false,"textContentSize":"Large","bgColor":"None"},"id":"text_and_image$528a2c91-451f-4ce7-aa50-d54a1cd50d6d","slice_type":"text_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[],"primary":{"image":{"dimensions":{"width":8000,"height":4500},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/6577b471531ac2845a25ec8b_VicinityCentres_CaseStudy_2023_R1_JK12.jpg?auto=format,compress","id":"ZXe0cVMawoRaJeyL","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"fixedHeight":false,"isBannerHeightMode":false,"bannerText":[]},"id":"full_image$be58c40c-38b3-4daf-ab39-01139f20601c","slice_type":"full_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[],"primary":{"image":{"dimensions":{"width":8000,"height":4500},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/6578eac8531ac2845a2619a7_VicinityCentres_CaseStudy_2023_R1_JK6.jpg?auto=format,compress","id":"ZXjqyFMawoRaJhmn","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"fixedHeight":false,"isBannerHeightMode":false,"bannerText":[]},"id":"full_image$cc0a9dbd-f10b-4d6f-aae2-d11b6869f87f","slice_type":"full_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[],"primary":{"textContent":[],"secondaryTextContent":[{"type":"paragraph","text":"Once the initiatives were confirmed, scenario analysis was conducted on six of the initiatives with more direct material outcomes to demonstrate the potential waste avoidance and diversion, as well as emissions avoidance and reduction. 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chain.","spans":[{"start":33,"end":39,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.unsw.edu.au/","target":"_blank"}}],"direction":"ltr"},{"type":"paragraph","text":"To better understand this, UNSW in collaboration with Sustainability Advantage, the NSW Government's leading business support program and Edge Impact, set out to unpack the nature-related impacts and dependencies through UNSW’s supply chain, and the strategic actions, including foundational systems, processes, capability, and initiatives, that UNSW need to undertake over the next 3 years to reduce impact and exposure to nature-related risk in purchasing 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sourcing. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Nature-related risk was explored through a quantified materiality assessment of ecosystem service dependencies for each of UNSW’s spend categories leveraging the Exploring Natural Capital Opportunities, Risks and Exposure (ENCORE) platform maintained by Global Canopy and the United Nations Environment 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results of these assessments were considered alongside stakeholder input.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"The evidence base informed a three-year roadmap to develop the foundations for making evidence-based purchasing decisions, building internal and external capability and piloting nature sensitive solutions in partnership with key UNSW suppliers to explore feasibility, scalability, and opportunities for a positive impact on nature.","spans":[],"direction":"ltr"}],"secondaryTextContent":[],"image":{"dimensions":{"width":8000,"height":4500},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/ZoNnxh5LeNNTwsjT_UNSW_CaseStudy_20246-2-.png?auto=format,compress","id":"ZoNnxh5LeNNTwsjT","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"imagePosition":"Right","showMiddleBorder":false,"textContentSize":"Normal","bgColor":"None"},"id":"text_and_image$1e64e795-06c7-4e6c-b1e6-7891c0d36584","slice_type":"text_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"textContent":[{"type":"paragraph","text":"Travel, IT, research equipment and consumables, food, and facilities management are the spend groups with the greatest dependence on nature. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"For most spend groups, climate change is the biggest driver of impact, followed by water consumption, and land use and land use change.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"The Nature Impact Score and Species Loss both provided generally consistent results with regards to the highest impact spend groups.","spans":[],"direction":"ltr"}],"secondaryTextContent":[],"image":{"dimensions":{"width":4000,"height":4500},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/ZoNhfh5LeNNTwsi0_UNSW_CaseStudy_20245-1-.png?auto=format,compress","id":"ZoNhfh5LeNNTwsi0","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"imagePosition":"Right","showMiddleBorder":false,"textContentSize":"Normal","bgColor":"None"},"id":"text_and_image$32dc2907-6205-4542-8af8-77c6e63de5ca","slice_type":"text_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"caption":"The Result","mainText":[{"type":"paragraph","text":"The Nature Impact Score identified that (on a per unit of spend basis) food, facilities management, resource use and waste, and travel carry the highest impact on nature. When considered according to 2022 spend (baseline year) facilities management, professional services, research equipment and consumables, IT, resource use and waste have the highest impact footprint. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"The key learnings from this project include: ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"- Emissions and water consumption are the two biggest drivers of impacts on nature from UNSW’s supply chain, while data availability prevented gaining a credible view of geographic impact hotspots. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"- Spend related to on-campus activities have high dependence on ecosystem services including IT, research expenses, food, and facilities maintenance. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"- UNSWs supply chain is dependent on an array of ecosystem services including surface and ground water, dilution by atmosphere and ecosystems, flood and storm protection, climate regulation, and mass stabilisation and erosion control.  ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"- Understanding and addressing supply chains nature impacts and dependencies is complex and will require a significant uplift in capabilities, systems and processes to gather credible supplier specific data to substantiate evidence-based procurement decisions and strategies.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"The location of supply chain activities (raw material extraction, cultivation, and manufacturing) greatly influences the supplier’s interface with ecosystems, production practices can vary widely, affecting the level of impact on nature, all of which can erode data confidence.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Traditional procurement practices rarely capture supplier data beyond direct suppliers – this was no different for UNSW.  ","spans":[],"direction":"ltr"},{"type":"paragraph","text":" ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"The UNSW project team will continue to build out the roadmap and begin implementation of priority actions in 2024.","spans":[],"direction":"ltr"}],"ctaLink":{"link_type":"Any"},"ctaLabel":null,"ctaAnchorLink":null,"byline":[],"color":"Moss"},"id":"text_and_cta_block$60e1d7ce-a092-47b8-85c5-4a2c133a9472","slice_type":"text_and_cta_block","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[],"primary":{"quoteText":[{"type":"paragraph","text":"“Nature risks and impacts for supply chain of over 6,000 suppliers are complex, but the expert team at Edge guided us through a process that drew on leading practice tools and methodologies. Through the project we’ve learned about our key nature impact drivers, hotspots and dependencies, and we now have a roadmap for meaningful action to address our impacts and risks. It’s been fantastic working with the Edge team.”","spans":[],"direction":"ltr"}],"quoteAuthor":[{"type":"paragraph","text":"William Syddall\nHead of Environmental Sustainability, UNSW","spans":[],"direction":"ltr"}],"image":{"dimensions":{"width":8000,"height":4500},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/ZoNinh5LeNNTwsi6_UNSW_CaseStudy_20244-1-.png?auto=format,compress","id":"ZoNinh5LeNNTwsi6","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"imagePosition":"Right"},"id":"quote_and_image$e491d33d-5a3e-424f-bbb8-8924161eb645","slice_type":"quote_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"image":{"dimensions":{"width":3000,"height":2250},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/ZoOQ7B5LeNNTwsn9_Free_Landscape_Brochure_Mockup_05.png?auto=format,compress","id":"ZoOQ7B5LeNNTwsn9","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"fixedHeight":false,"isBannerHeightMode":false,"bannerText":[]},"id":"full_image$704cfad7-009b-4e5f-8852-47a0d87d84c3","slice_type":"full_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[],"primary":{"quoteText":[{"type":"paragraph","text":"“Sustainability Advantage recognises that nature is fast emerging as the critical consideration essential to achieve our net zero ambitions. Collaborations like this are necessary to accelerate action, and we are thrilled to support this innovative and pioneering project.”","spans":[],"direction":"ltr"}],"quoteAuthor":[{"type":"paragraph","text":"Amy Croucher\nNature Lead, Sustainability Advantage","spans":[],"direction":"ltr"}],"image":{"dimensions":{"width":8000,"height":4500},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/ZoNhdR5LeNNTwsiz_UNSW_CaseStudy_20243-1-.png?auto=format,compress","id":"ZoNhdR5LeNNTwsiz","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"imagePosition":"Left"},"id":"quote_and_image$6b832a00-16a6-4147-8e45-7c481ce1baa0","slice_type":"quote_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"text":[{"type":"paragraph","text":"Explore UNSW's 2023 Environmental Sustainability Report.\nRead it 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With these resources at its disposal, the industry is well-positioned to reduce its emissions profile by 42% by 2030 and ultimately reach net-zero by 2050.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Each output is audience-specific; the Guide and Tools are designed for ready adoption by growers and winemakers, while the Emissions Reduction Roadmap provides an excellent engagement tool for conversations with markets and customers, with the modular assets enabling key messages and data to be shared easily.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Owing to the extensive industry engagement, the end products reflect what the industry considers viable and doable, without compromising operations. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"The development of the Roadmap with industry also served as an educational opportunity for many participants, who have been given the insights and science necessary to understand why particular practices should be favoured over others, and where quick wins exist in their operations to save time, cost and emissions.","spans":[],"direction":"ltr"}],"ctaLink":{"link_type":"Any"},"ctaLabel":null,"ctaAnchorLink":null,"byline":[],"color":"Moss"},"id":"text_and_cta_block$60e1d7ce-a092-47b8-85c5-4a2c133a9472","slice_type":"text_and_cta_block","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":"Related case studies","bgColor":"Stone"},"id":"callout_headline$2b066000-4303-4229-8fc0-143de19c69fc","slice_type":"callout_headline","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{"caseStudy":{"id":"Y3rnqxAAACcA3v1w","type":"caseStudy","tags":[],"lang":"en-au","slug":"a-toolkit-for-boosting-bushfire-resilience","first_publication_date":"2022-11-21T02:51:29+0000","last_publication_date":"2025-01-28T23:54:17+0000","uid":"bushfire-resilient-homes-toolkit","link_type":"Document","key":"6f1ca520-446c-4afa-8db9-b7674e4a1a44","isBroken":false}},{"caseStudy":{"id":"Y4BIcBEAACMAIyPV","type":"caseStudy","tags":[],"lang":"en-au","slug":"australias-path-to-reducing-food-waste-by-2030","first_publication_date":"2022-11-26T09:19:20+0000","last_publication_date":"2025-01-26T23:59:36+0000","uid":"australias-path-to-reducing-food-waste-by-2030","link_type":"Document","key":"20882279-8801-4234-a52c-d973648ba8f2","isBroken":false}},{"caseStudy":{"id":"Y3_-BREAACAAIeMG","type":"caseStudy","tags":[],"lang":"en-au","slug":"supporting-vina-concha-y-toros-decarbonisation-journey","first_publication_date":"2022-11-26T09:19:45+0000","last_publication_date":"2025-01-26T23:48:55+0000","uid":"vct","link_type":"Document","key":"1277eece-01a8-4864-acfd-3da77728d8d2","isBroken":false}}],"primary":{"ctaLabel":"Read more","blurbWordLimit":null,"isDynamicContent":false,"showBottomBorder":true},"id":"case_study_list$90599046-ec62-4556-bdbd-5be8aede8a34","slice_type":"case_study_list","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"newsletterTitle":"Newsletter","newsletterDescription":[{"type":"paragraph","text":"Be first to get our ideas, invites and breakthroughs.","spans":[]},{"type":"paragraph","text":"Join the list with your name and email.","spans":[]}],"signUpBtnLabel":"Sign Up","hideCareersSection":false,"careersTitle":"Work with us","careersDescription":[{"type":"paragraph","text":"We have a number of exciting projects in the works and are rapidly expanding our team of consultants. Below are our latest job openings across our global offices.","spans":[]}],"careersCTALink":{"link_type":"Web","key":"b4bacbe9-5cc0-4390-9f53-00679bff2df8","url":"https://edge.teamtailor.com/"},"careersCTALabel":"Careers Page","image":{"dimensions":{"width":1866,"height":1532},"alt":"3D Abstract Imagery","copyright":null,"url":"https://images.prismic.io/edgeimpact/5b1f44bf-4c65-4b9f-85c1-46e260a28956_Edge-3d-2.jpg?auto=compress,format","id":"Y4W0BBEAACQAOzUn","edit":{"x":0,"y":0,"zoom":1,"background":"#fff"}},"successText":[]},"id":"newsletter_panel$927c8553-515c-4a36-ac63-2652dfbafcd4","slice_type":"newsletter_panel","slice_label":null}],"title":"Wine Australia's Emissions Reduction Roadmap","blurb":[{"type":"paragraph","text":"An industry-led approach to cutting emissions while ensuring prosperity for grape growers and winemakers.","spans":[],"direction":"ltr"}]},"link_type":"Document","key":"d2337b37-8137-4399-9bb3-bc2cecc6a955","isBroken":false}},{"caseStudy":{"id":"ZKIlQxEAAB0AhNc8","type":"caseStudy","tags":[],"lang":"en-au","slug":"tackling-australias-largest-waste-stream","first_publication_date":"2023-07-03T03:56:41+0000","last_publication_date":"2025-01-28T23:49:32+0000","uid":"fit-for-office","data":{"uid":"fit-for-office","slices":[{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[{"type":"heading1","text":"Tackling Australia's largest waste stream","spans":[],"direction":"ltr"}],"subtitle":[{"type":"heading2","text":"A transformative stewardship scheme","spans":[],"direction":"ltr"}],"subtitleDescription":[{"type":"heading3","text":"Fit for Office mitigates the impact of discarded furniture to drive a sustainable future.","spans":[],"direction":"ltr"}],"image":{"dimensions":{"width":8000,"height":4500},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/a0c0c150-6cfe-43b2-8b7a-e126c0ac399f_CS_FFO_2023_1920x1080_1_V2.png?auto=compress,format","id":"ZKJUtxEAAB0AhatU","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"clientName":"Department of Industry, Science and Resources"},"id":"case_study_title$3f622c9f-dd2e-4873-bfb0-1ea68db922ab","slice_type":"case_study_title","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"caption":"The Challenge","mainText":[{"type":"paragraph","text":"We were asked to be a part of an industry initiative that sought to address the pressing challenge of the commercial office furniture predicament, where a staggering 35,000 tonnes of office furniture are discarded annually in Australian capital cities alone.","spans":[]},{"type":"paragraph","text":"Despite existing recovery options, a significant portion of furniture still ends up in landfills. 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The scheme prioritises waste pollution reduction by discouraging new furniture procurement when reusable alternatives are available by emphasising optimised product and material circulation at their highest value.","spans":[]},{"type":"paragraph","text":"FFO uses data-driven insights to identify waste areas and implement targeted interventions for efficient and environmentally responsible office furniture management.","spans":[]},{"type":"paragraph","text":"The product stewardship register and asset tracking scheme we created helps streamline processes, standardise decision-making, and prioritise reuse, repair, and remanufacture. This will enhance asset tracking and enable timely notifications for maintenance or returns.","spans":[]}],"ctaLink":{"link_type":"Any"},"ctaLabel":null,"ctaAnchorLink":null,"byline":[],"color":"Moss"},"id":"text_and_cta_block$60e1d7ce-a092-47b8-85c5-4a2c133a9472","slice_type":"text_and_cta_block","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"textContent":[{"type":"paragraph","text":"","spans":[]}],"secondaryTextContent":[{"type":"paragraph","text":"The FFO visual identity reflects the scheme’s ability to grant flexibility and adaptability to office furniture waste. 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Then, through collaboration with technology providers the FFO platform aims to showcase data-led circularity, fostering knowledge sharing within the furniture recovery ecosystem.","spans":[]}],"image":{"dimensions":{"width":8000,"height":4500},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/0abd5cdd-1f9c-4a05-a545-ccace0c2b607_CS_FFO_2023_1920x1080_8.png?auto=compress,format","id":"ZKIuBxEAACIAhP4p","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"imagePosition":"Left","showMiddleBorder":false,"textContentSize":"Normal","bgColor":"None"},"id":"text_and_image$3cf3080a-713e-4537-94f8-3ff7b0180469","slice_type":"text_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"quoteText":[{"type":"paragraph","text":"We would like to express our deepest appreciation and heartfelt gratitude to the founding partners of the Fit for Office product stewardship scheme. Their visionary leadership and unwavering commitment to the design and activation of the scheme have been instrumental in making this initiative a reality. Without their invaluable contribution, this transformative project would not have been possible.","spans":[]},{"type":"paragraph","text":"Our founding members:\nKlaro Industrial Design - Alona Klaro\nAspect Furniture - Andy McCulloch\nMaxton Fox - Belinda Hall\nSturdy Framac - Brad Denny\nLiving Edge - Guy Walsh\nPlanex - Karina Clarke\nKoskela - Sasha Titchkosky","spans":[]}],"quoteAuthor":[{"type":"paragraph","text":"Lloyd Parker,\nManager - Circular Economy","spans":[]}],"image":{"dimensions":{"width":1920,"height":1004},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/a6eb54da-a08b-4cbe-9dfe-4f8c0b07656a_Frame+320.png?auto=compress,format","id":"ZKJu4BEAACEAhiBt","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"imagePosition":"Right"},"id":"quote_and_image$f8b637bf-eadb-4c2b-8259-d78e5eac2641","slice_type":"quote_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"text":[{"type":"paragraph","text":"Project Director: Christian Keel, Head of Circular Economy & Lifecycle Thinking (CELT)\n0405755472 christian.keel@edgeimpact.global\nVisit www.fitforoffice.com.au to view the full website. 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Viña Concha   y Toro (VCT), one of the ten largest wine companies in the world, have been   working closely with our Edge Impact Chile team on their carbon strategy for years.   Given the increased global importance being placed on the need to adopt TCFD   recommendations, VCT saw the need to identify possible business risks   associated with climate change and anticipates that there will be future regulations. 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Below are our latest job openings across our global offices.","spans":[]}],"careersCTALink":{"link_type":"Web","key":"3114a774-f53c-439a-a3b8-51ed105c1fb1","url":"https://edge.teamtailor.com/"},"careersCTALabel":"Careers Page","image":{"dimensions":{"width":1866,"height":1532},"alt":"3D Abstract Imagery","copyright":null,"url":"https://images.prismic.io/edgeimpact/5b1f44bf-4c65-4b9f-85c1-46e260a28956_Edge-3d-2.jpg?auto=compress,format","id":"Y4W0BBEAACQAOzUn","edit":{"x":0,"y":0,"zoom":1,"background":"#fff"}},"successText":[]},"id":"newsletter_panel$927c8553-515c-4a36-ac63-2652dfbafcd4","slice_type":"newsletter_panel","slice_label":null}],"title":"Australia’s Path to Reducing Food Waste by 2030","blurb":[{"type":"paragraph","text":"Edge Impact led a consortium to assess feasibility and actions for FIAL’s food waste target.","spans":[],"direction":"ltr"}]},"link_type":"Document","key":"2361774e-688a-4894-9814-2c3173182dc3","isBroken":false}},{"caseStudy":{"id":"Y3_4EBEAACQAIcgV","type":"caseStudy","tags":[],"lang":"en-au","slug":"a-sustainability-strategy-for-ste.-michelle-wine-estates","first_publication_date":"2022-11-26T09:19:09+0000","last_publication_date":"2025-01-27T00:02:16+0000","uid":"smwe","data":{"uid":"smwe","slices":[{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[{"type":"heading1","text":"A Sustainability Strategy for Ste. 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","spans":[],"direction":"ltr"},{"type":"paragraph","text":"We used a scientific approach to assess SMWE’s baseline performance in key environmental focus areas, including energy & emissions, waste, water, and packaging.","spans":[],"direction":"ltr"}],"secondaryTextContent":[],"image":{"dimensions":{"width":5464,"height":3640},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/65a496657a5e8b1120d58413_dan-meyers-0AgtPoAARtE-unsplash.jpg?auto=format,compress","id":"ZaSWZXpeixEg1YQT","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"imagePosition":"Right","showMiddleBorder":false,"textContentSize":"Normal","bgColor":"None"},"id":"text_and_image$590d9686-a49b-41f5-a65c-e961d6c759bc","slice_type":"text_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[],"primary":{"text":[{"type":"paragraph","text":"Ready to reassess your organization's sustainability strategy? Contact us today.","spans":[{"start":62,"end":80,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/contact","target":"_blank"}}],"direction":"ltr"}],"bgColor":"Mineral","alignment":"Center","fontSize":"Small","fontWeight":"Light"},"id":"text_panel$13cbd37d-0454-4b78-a31d-3655127ede16","slice_type":"text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"textContent":[{"type":"paragraph","text":"Alongside this work, we conducted an in-depth stakeholder engagement process to gain insights and buy-in from leaders and employees within SMWE, as well as to gauge the interests and knowledge of SMWE’s customers when it comes to sustainable practices in wine and wine production.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Informed by these insights, we guided SMWE in the development of a robust sustainability strategy and associated goals and targets across all relevant sustainability areas and company operations.","spans":[],"direction":"ltr"},{"type":"paragraph","text":" ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"SMWE’s employee-led Sustainability Working Group were key collaborators throughout the process, instrumental in developing repeatable processes within the organization.","spans":[],"direction":"ltr"}],"secondaryTextContent":[],"image":{"dimensions":{"width":4608,"height":3456},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/65a496637a5e8b1120d58412_sven-wilhelm-2cRXSWyMHA8-unsplash-1-.jpg?auto=format,compress","id":"ZaSWY3peixEg1YQS","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"imagePosition":"Right","showMiddleBorder":false,"textContentSize":"Normal","bgColor":"None"},"id":"text_and_image$8284f52e-6738-4b1b-a932-8cc6181d2d80","slice_type":"text_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"caption":"The Result","mainText":[{"type":"paragraph","text":"The quantitative and qualitative insight gained through our baselining process, and the multi-faceted, multi-year sustainability strategy we developed as a result, will guide SMWE's future actions, as they aim to further advance their position as a sustainability leaders in the wine industry.","spans":[],"direction":"ltr"}],"ctaLink":{"link_type":"Any"},"ctaLabel":null,"ctaAnchorLink":null,"byline":[],"color":"Moss"},"id":"text_and_cta_block$60e1d7ce-a092-47b8-85c5-4a2c133a9472","slice_type":"text_and_cta_block","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"quoteText":[{"type":"paragraph","text":"“Our partnership with Edge Impact has given us excellent tools to further craft our sustainability strategy and helped set us on the path toward reaching our goals. We look forward to our continued work with this team as we strive toward a more sustainable Ste. Michelle Wine Estates.”","spans":[]}],"quoteAuthor":[{"type":"paragraph","text":"Madeline Mathews\nSustainability Manager - Ste. 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Their visionary leadership and unwavering commitment to the design and activation of the scheme have been instrumental in making this initiative a reality. Without their invaluable contribution, this transformative project would not have been possible.","spans":[]},{"type":"paragraph","text":"Our founding members:\nKlaro Industrial Design - Alona Klaro\nAspect Furniture - Andy McCulloch\nMaxton Fox - Belinda Hall\nSturdy Framac - Brad Denny\nLiving Edge - Guy Walsh\nPlanex - Karina Clarke\nKoskela - Sasha Titchkosky","spans":[]}],"quoteAuthor":[{"type":"paragraph","text":"Lloyd Parker,\nManager - Circular Economy","spans":[]}],"image":{"dimensions":{"width":1920,"height":1004},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/a6eb54da-a08b-4cbe-9dfe-4f8c0b07656a_Frame+320.png?auto=compress,format","id":"ZKJu4BEAACEAhiBt","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"imagePosition":"Right"},"id":"quote_and_image$f8b637bf-eadb-4c2b-8259-d78e5eac2641","slice_type":"quote_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"text":[{"type":"paragraph","text":"Project Director: Christian Keel, Head of Circular Economy & Lifecycle Thinking (CELT)\n0405755472 christian.keel@edgeimpact.global\nVisit www.fitforoffice.com.au to view the full website. 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This committed to a target of halving Australia’s annual food waste by 2030, in line with the requirements of the UN SDG 12.3.","spans":[]},{"type":"paragraph","text":"A consortium led by Edge Impact was commissioned by Food Innovation Australia Limited (FIAL) to provide more granularity on the feasibility of achieving the target, the associated actions and investment required.","spans":[]}],"ctaLink":{"link_type":"Any"},"ctaLabel":null,"ctaAnchorLink":null,"byline":[],"color":"Moss"},"id":"text_and_cta_block$4b8aee55-ac7a-4a05-90ee-e5ad30e4348f","slice_type":"text_and_cta_block","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{"label":"Updating and Improving the National Food Waste Baseline","iconImage":{"dimensions":{"width":150,"height":150},"alt":"Icon showing profile of a person, with a target inside their head","copyright":null,"url":"https://edgeimpact.cdn.prismic.io/edgeimpact/ed2f0f1d-2dd7-4db9-bc35-12fff7232bd1_Icon_Seafoam_Objectives.svg","id":"Y36PYBEAACAAG5nf","edit":{"x":0,"y":0,"zoom":1,"background":"#fff"}},"hoverText":[],"hoverStateEnabled":false,"inlineDetailEnabled":false},{"label":"Scenario and Feasibility Testing","iconImage":{"dimensions":{"width":150,"height":150},"alt":"icon of a speech bubble showing two figures linked by a circle","copyright":null,"url":"https://edgeimpact.cdn.prismic.io/edgeimpact/df6434b3-df88-42cc-898c-f380398be62e_Icon_Seafoam_Collaboration.svg","id":"Y36PNBEAACMAG5jt","edit":{"x":0,"y":0,"zoom":1,"background":"#fff"}},"hoverText":[],"hoverStateEnabled":false,"inlineDetailEnabled":false},{"label":"Establishing Delivery Trajectory for Recommended Scenario","iconImage":{"dimensions":{"width":150,"height":150},"alt":"icon showing a box with arrows pointing outwardly around it","copyright":null,"url":"https://edgeimpact.cdn.prismic.io/edgeimpact/9ec3cb7c-356d-4823-bfaa-4d7917f912fb_Icon_Seafoam_Product+Distribution.svg","id":"Y36PYREAACgAG5ni","edit":{"x":0,"y":0,"zoom":1,"background":"#fff"}},"hoverText":[],"hoverStateEnabled":false,"inlineDetailEnabled":false},{"label":"Collating a Clear Evidence Base","iconImage":{"dimensions":{"width":150,"height":150},"alt":"icon of a magnifying glass showing an eye","copyright":null,"url":"https://edgeimpact.cdn.prismic.io/edgeimpact/a8d33dc1-0ffa-419b-9f0e-905b9c1a0644_Icon_Seafoam_Insight.svg","id":"Y36PTBEAACAAG5l2","edit":{"x":0,"y":0,"zoom":1,"background":"#fff"}},"hoverText":[],"hoverStateEnabled":false,"inlineDetailEnabled":false}],"primary":{"title":"Key Deliverables","titleBgColor":"Seafoam","imageOnly":false,"sectionId":null,"imageSize":"Default","showBottomBorder":false},"id":"tile_grid$33ec7fc8-68ab-45a0-8e21-f2af0987221e","slice_type":"tile_grid","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":"The Approach","bgColor":"Mineral"},"id":"callout_headline$2245398d-c350-4d84-85cd-0b6ef2cdcc82","slice_type":"callout_headline","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"textContent":[{"type":"paragraph","text":"The first phase of the project involved updating the National Food Waste Baseline. This required collating over 170 data points and utilising a mass balance approach to determine waste volumes across the food value chain. 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This informed the development of a more detailed recommended scenario, which utilised the most effective interventions to reach the target. A detailed cost-benefit scenario was completed to outline the costs and benefits of implementing the recommended scenario on a national scale.","spans":[]}],"bgColor":"None","alignment":"Left","fontSize":"Large","fontWeight":"Light"},"id":"text_panel$26d99af2-4cb1-4f60-aabc-e267ffa104ae","slice_type":"text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"textContent":[{"type":"paragraph","text":"Following completion of key findings, Edge Impact led the development of key collateral used to drive stakeholder engagement. This included a data dashboard on power BI, which housed the key data sets from the baseline, and a 16-page graphical executive summary (see link below). 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Below are our latest job openings across our global offices.","spans":[]}],"careersCTALink":{"link_type":"Web","key":"3114a774-f53c-439a-a3b8-51ed105c1fb1","url":"https://edge.teamtailor.com/"},"careersCTALabel":"Careers Page","image":{"dimensions":{"width":1866,"height":1532},"alt":"3D Abstract Imagery","copyright":null,"url":"https://images.prismic.io/edgeimpact/5b1f44bf-4c65-4b9f-85c1-46e260a28956_Edge-3d-2.jpg?auto=compress,format","id":"Y4W0BBEAACQAOzUn","edit":{"x":0,"y":0,"zoom":1,"background":"#fff"}},"successText":[]},"id":"newsletter_panel$927c8553-515c-4a36-ac63-2652dfbafcd4","slice_type":"newsletter_panel","slice_label":null}],"title":"Australia’s Path to Reducing Food Waste by 2030","blurb":[{"type":"paragraph","text":"Edge Impact led a consortium to assess feasibility and actions for FIAL’s food waste 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project presented the opportunity for the Australian wine industry to review its current approach to production inputs and operational efficiencies to support a future operating environment that is lower emissions, more productive and more prosperous for Australian grape growers and winemakers.","spans":[],"direction":"ltr"}],"ctaLink":{"link_type":"Any"},"ctaLabel":null,"ctaAnchorLink":null,"byline":[],"color":"Moss"},"id":"text_and_cta_block$4b8aee55-ac7a-4a05-90ee-e5ad30e4348f","slice_type":"text_and_cta_block","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{"label":"Sector-wide Emissions Reduction 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collaborative approach across the Edge Impact team helped to ensure that the data and reduction pathway could be translated in a way that would drive the engagement needed to create the necessary action.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Using the Wine Australia brand as a foundation, we developed clear communication and storytelling that seamlessly supported and breathed life into the technical and strategic initiatives.","spans":[],"direction":"ltr"}],"secondaryTextContent":[],"image":{"dimensions":{"width":4000,"height":2250},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/65c4451a9be9a5b998b586d2_WineAus_CaseStudy_2023_R125-1-.jpg?auto=format,compress","id":"ZcRFGpvppbmYtYbS","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"imagePosition":"Right","showMiddleBorder":false,"textContentSize":"Normal","bgColor":"None"},"id":"text_and_image$798ea978-1adb-4246-8a2d-0d88fce7e2af","slice_type":"text_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"image":{"dimensions":{"width":4000,"height":2250},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/65c445539be9a5b998b586d3_WineAus_CaseStudy_2023_R113-1-.jpg?auto=format,compress","id":"ZcRFU5vppbmYtYbT","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"fixedHeight":false,"isBannerHeightMode":false,"bannerText":[]},"id":"full_image$71103513-90bb-43ec-936b-9b8b98d24c6b","slice_type":"full_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"text":[{"type":"paragraph","text":"The Australian wine industry is now leading agricultural production in Australia, with a fully feasible roadmap that sets out exactly what the industry needs to do, and how best to do it, to reach the industry’s emissions reduction targets.","spans":[],"direction":"ltr"}],"bgColor":"None","alignment":"Left","fontSize":"Large","fontWeight":"Light"},"id":"text_panel$76df8872-aef1-45a6-95e7-ebf158f8b0bf","slice_type":"text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"image":{"dimensions":{"width":4000,"height":2250},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/65c445779be9a5b998b586d4_WineAus_CaseStudy_2023_R13-1-.jpg?auto=format,compress","id":"ZcRFd5vppbmYtYbU","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"fixedHeight":false,"isBannerHeightMode":false,"bannerText":[]},"id":"full_image$69209b74-37ce-4172-9c22-741e88d5d4e1","slice_type":"full_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"caption":"The Result","mainText":[{"type":"paragraph","text":"Equipped with a suite of branded communications assets, the Australian wine industry now possesses key tools such as the Emissions Reduction Roadmap. 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Director","spans":[],"direction":"ltr"}],"blurb":[{"type":"paragraph","text":"","spans":[]}],"image":{"dimensions":{"width":2160,"height":2160},"alt":"Professional men and women engaged in a business meeting around a conference table","copyright":null,"url":"https://images.prismic.io/edgeimpact/657fe0ce531ac2845a26a261_InsightArticleImage.png?auto=format,compress","id":"ZX_gzlMawoRaJqJh","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"layoutType":"Aligned Bottom","blurbWordLimit":null,"ctaLabel":null},"id":"article_title$443bd272-8c2c-4ff5-83b6-deb173cbb714","slice_type":"article_title","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{"customTag":"Climate Governance"},{"customTag":"Climate Risk"},{"customTag":"Corporate Governance"},{"customTag":"Climate Disclosure Reporting"}],"primary":{"showTags":false,"showShareLinks":false,"shareLabel":null},"id":"article_tags_and_share_links$d1416aee-4c9e-4183-ab7d-23fd1002dea3","slice_type":"article_tags_and_share_links","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[{"type":"heading2","text":"In the fast-evolving landscape of corporate governance, directors are tasked with safeguarding the best interests of their businesses. ","spans":[],"direction":"ltr"}],"text":[{"type":"paragraph","text":"While this responsibility has been a constant, the emergence of climate change as a critical factor requires directors to tread new ground. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"With 20 years of experience in public and private sector governance, including 15 years dedicated to delivering climate risk processes, I believe that there are crucial aspects of climate governance that every board member should be well-versed in. ","spans":[],"direction":"ltr"}],"showTopBorder":false,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$a6567864-7b1d-4098-b9de-898cf5fbb091","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[],"primary":{"quoteText":[{"type":"paragraph","text":"Whether through the identification of specialised expertise or upskilling for all directors, the need for climate governance proficiency is undeniable and has been emphasised by professional bodies such as the AICD.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"","spans":[],"direction":"ltr"},{"type":"paragraph","text":"","spans":[],"direction":"ltr"}],"quoteAuthor":[{"type":"paragraph","text":"Mark Siebentritt, Executive Director","spans":[],"direction":"ltr"}],"image":{"dimensions":{"width":4480,"height":6720},"alt":"Mark Siebentritt, Edge Impact's Executive Director","copyright":null,"url":"https://images.prismic.io/edgeimpact/657fd2e6531ac2845a269e90_MarkSiebentritt_12.jpg?auto=format,compress","id":"ZX_S5lMawoRaJp6Q","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"imagePosition":"Right"},"id":"article_quote_and_image$cf088704-ccb5-43b8-962a-d204edbb0ce1","slice_type":"article_quote_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[{"type":"heading2","text":"Understanding Climate Risk: More than Just a Coin Toss","spans":[],"direction":"ltr"}],"text":[{"type":"paragraph","text":"Climate risk, akin to regular risk, has two main forms: physical risk and transition risk. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"The former encompasses the risks associated with a changing climate, including heatwaves, floods, and bushfires. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"On the flip side, transition risk involves the challenges of moving toward a low-carbon economy. Directors must comprehend the nuances of both and assess their organisation's vulnerability. Despite their distinctiveness, these risks inevitably trickle down to impact strategic, financial, and operational aspects.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Timeframes and Decision Lifetimes: Deciphering the Puzzle","spans":[{"start":0,"end":57,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"The timelines for climate risk assessment and response planning differ significantly from traditional business planning. Physical risks unfold over decades, presenting a unique challenge for directors.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"When to act?","spans":[{"start":0,"end":12,"type":"em"}],"direction":"ltr"},{"type":"paragraph","text":"The decision lifetimes approach becomes a valuable tool, acknowledging that decisions made today have varying spans. Directors must consider the longevity of decisions, from the choice of electrical equipment in a tolling booth to the construction of bridges on a highway, with the latter spanning 80-100 years. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"This perspective guides the incorporation of long-term climate change into current decision-making processes.","spans":[],"direction":"ltr"}],"showTopBorder":true,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$efff9775-edef-4bda-a90c-7930adc3ac08","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"text":[{"type":"paragraph","text":"We have released a Discussion Paper titled, 'How to Thrive in the New Era of ESG Disclosure\" to help organisations understand and navigate the complexities of the future ESG disclosure landscape. Download it here.","spans":[{"start":196,"end":213,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/esg-disclosure-handbook","target":"_self"}}],"direction":"ltr"}],"bgColor":"Mineral","alignment":"Center","fontSize":"Small","fontWeight":"Heavy"},"id":"text_panel$8f3142fd-d522-4e5a-b4b7-5a005d01e20c","slice_type":"text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"quoteText":[{"type":"paragraph","text":"Living with uncertainty is a fundamental aspect of climate governance. The ever-changing landscape of future climate conditions, influenced by global emissions reduction policies and unpredictable climate responses to greenhouse gases, demands a proactive approach.","spans":[],"direction":"ltr"}],"quoteAuthor":[],"image":{"dimensions":{"width":1320,"height":879},"alt":"Forest fire emitting smoke against a hazy sky, depicting environmental crisis and natural disaster","copyright":null,"url":"https://images.prismic.io/edgeimpact/657f87be531ac2845a269e37_64fd650d-7ece-4ea0-9da1-e9cb0315e213.jpg?auto=format,compress","id":"ZX-HvlMawoRaJp43","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"imagePosition":"Right"},"id":"article_quote_and_image$9eaaa3d0-dfe8-4c87-b3ec-c0a1f34f5282","slice_type":"article_quote_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[],"text":[{"type":"paragraph","text":"Embracing Uncertainty: The Role of Scenarios","spans":[{"start":0,"end":44,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"Directors can embrace uncertainty through scenario thinking, a core element of climate disclosure strategies outlined in TCFD requirements. Familiarising themselves with multiple scenarios enables directors to navigate the unpredictable nature of climate change with resilience.","spans":[{"start":121,"end":125,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.fsb-tcfd.org/","target":"_self"}}],"direction":"ltr"},{"type":"paragraph","text":"Building the Evidence Base: An Iterative Approach","spans":[{"start":0,"end":49,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"For businesses embarking on their climate risk journey, there is no one-size-fits-all formula to precisely gauge the financial impact of future risks. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"An iterative approach involving risk screening, enterprise-level risk assessment, and the development of specific financial impact models is essential. Drawing from past and current hazards, such as floods and heatwaves, provides valuable data to build a robust evidence base over time.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Aligning with ISO31000: Recognising the Differences ","spans":[{"start":0,"end":52,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"While aligning climate risk assessments with ISO31000 is considered a leading practice, directors must recognise the subtle yet crucial distinctions. Adaptation measures, aimed at reducing climate risk vulnerability, take center stage in climate risk assessment. ","spans":[{"start":45,"end":53,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.iso.org/iso-31000-risk-management.html/","target":"_self"}}],"direction":"ltr"},{"type":"paragraph","text":"Unlike traditional risk assessment, which considers only current conditions, climate risk assessment prompts directors to evaluate risk changes over multiple decades. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"As we collectively address the challenges of climate change, informed and proactive governance will be the key to success. Read more about our climate change services here.","spans":[{"start":0,"end":143,"type":"em"},{"start":143,"end":172,"type":"em"},{"start":143,"end":172,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/decarbonisationclimateresilience","target":"_self"}}],"direction":"ltr"}],"showTopBorder":false,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$139dd209-14da-4188-85b5-a7d515451e8e","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"text":[{"type":"paragraph","text":"Learn how to Thrive in the New Era of ESG Disclosure with our latest Discussion Paper. Read it here.","spans":[{"start":95,"end":99,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/esg-disclosure-handbook","target":"_blank"}}],"direction":"ltr"}],"bgColor":"Mineral","alignment":"Center","fontSize":"Small","fontWeight":"Heavy"},"id":"text_panel$f01a1cd8-6304-469e-ab59-f72683e4e879","slice_type":"text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{"contentItem":{"id":"ZX-YvhAAADGEHVpo","type":"article","tags":[],"lang":"en-au","slug":"-","first_publication_date":"2023-12-18T01:22:05+0000","last_publication_date":"2024-03-08T06:21:25+0000","uid":"metrics-that-matter-guiding-climate-action","data":{"readingTime":"8 min. read","uid":"metrics-that-matter-guiding-climate-action","slices":[{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"article":{"link_type":"Document"},"title":[{"type":"heading1","text":"Guiding Climate Action Through Informed Decision-Making ","spans":[],"direction":"ltr"}],"subtitle":[{"type":"paragraph","text":"Written by \nMark Siebentritt, Executive Director","spans":[],"direction":"ltr"}],"blurb":[{"type":"paragraph","text":"","spans":[]}],"image":{"dimensions":{"width":1300,"height":867},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/65963573531ac2845a27199f_0fb5012b-f96d-469c-92f8-65efca453719.jpg?auto=format,compress","id":"ZZY1c1MawoRaJxmf","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"layoutType":"Aligned Bottom","blurbWordLimit":null,"ctaLabel":null},"id":"article_title$443bd272-8c2c-4ff5-83b6-deb173cbb714","slice_type":"article_title","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{"customTag":"Climate Change"},{"customTag":"Climate Governance"},{"customTag":"Climate Risk"},{"customTag":"Corporate Governance"},{"customTag":"Climate Disclosure Reporting"}],"primary":{"showTags":false,"showShareLinks":false,"shareLabel":null},"id":"article_tags_and_share_links$d1416aee-4c9e-4183-ab7d-23fd1002dea3","slice_type":"article_tags_and_share_links","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[{"type":"heading2","text":"In the ever-evolving landscape of corporate responsibility, the adage \"you can't manage what you can't measure\" holds more significance than ever, especially when it comes to climate change.  ","spans":[],"direction":"ltr"}],"text":[{"type":"paragraph","text":"As pressure mounts from both shareholders and stakeholders to address environmental concerns, the need for evidence-based decision-making becomes imperative. Beyond being a good practice, it is also a requirement for climate disclosure reporting.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Here are 6 key considerations to help guide your climate action decisions:","spans":[],"direction":"ltr"},{"type":"paragraph","text":"1. Understanding Thresholds and Tipping Points: A Time-Strategic Approach","spans":[{"start":0,"end":73,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"Effective response to climate change requires a strategic approach that spans both short and long-term actions. The key lies in identifying thresholds and tipping points, pivotal moments that indicate the need for immediate action.  ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"By monitoring specific metrics, such as the occurrence of floods in successive years at a particular location, organisations can anticipate potential asset failures and allocate investments accordingly. This proactive approach not only mitigates risks but also spreads financial commitments over time, avoiding upfront financial strain.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"2. Tailoring Metrics for Diverse Climate Risks: Physical vs. Transition ","spans":[{"start":0,"end":71,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"Not all climate risks are created equal, and recognising the differences between physical and transition risks is crucial. Metrics and targets should be specifically designed to address each type of risk. For instance, physical risk metrics might focus on observable changes, such as extreme weather events or shifts in climate patterns.  ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"In contrast, transition risk metrics should delve into the intricacies of scope 1-3 reporting, going beyond mere emissions reporting. This tailored approach ensures that organisations are equipped to monitor and respond to the unique challenges posed by different climate risks","spans":[],"direction":"ltr"}],"showTopBorder":false,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$a6567864-7b1d-4098-b9de-898cf5fbb091","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[],"primary":{"quoteText":[{"type":"paragraph","text":"While much attention has been rightly placed on the connection between transition risk and scope 1-3 emissions reporting, it is not sufficient. Transition risk metrics require a more comprehensive approach, encompassing factors beyond emissions.  ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"","spans":[],"direction":"ltr"},{"type":"paragraph","text":"","spans":[],"direction":"ltr"}],"quoteAuthor":[],"image":{"dimensions":{"width":5630,"height":3648},"alt":"white electic windmill","copyright":null,"url":"https://images.unsplash.com/photo-1548337138-e87d889cc369?crop=entropy&cs=srgb&fm=jpg&ixid=M3wzMzc0NjN8MHwxfHNlYXJjaHwxNnx8Y2xpbWF0ZSUyMGNoYW5nZXxlbnwwfHx8fDE3MDI4NjIzMDJ8MA&ixlib=rb-4.0.3&q=85?auto=compress,format","id":"pONBhDyOFoM","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"imagePosition":"Right"},"id":"article_quote_and_image$cf088704-ccb5-43b8-962a-d204edbb0ce1","slice_type":"article_quote_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[],"text":[{"type":"paragraph","text":"3. Moving Beyond Scope 1-3 Reporting: Unveiling the Nuances of Transition Risk Metrics","spans":[{"start":0,"end":86,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"Recognising the clear link between emissions and carbon prices is essential, but a nuanced understanding involves exploring broader aspects of transition risks. Metrics should delve into the resilience of supply chains, the adaptability of business models, and the potential impact of policy changes. This holistic approach ensures a more robust evaluation of transition risks. ","spans":[],"direction":"ltr"}],"showTopBorder":false,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$139dd209-14da-4188-85b5-a7d515451e8e","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"text":[{"type":"paragraph","text":"Learn how our climate change services can empower your organisation to build resilience to the physical and transition risks of a changing climate. Contact Us Today.","spans":[{"start":148,"end":165,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/contact","target":"_blank"}}],"direction":"ltr"}],"bgColor":"Mineral","alignment":"Center","fontSize":"Small","fontWeight":"Heavy"},"id":"text_panel$f01a1cd8-6304-469e-ab59-f72683e4e879","slice_type":"text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[],"text":[{"type":"paragraph","text":"4. Building a Knowledge Base through Careful Metric Selection  ","spans":[{"start":0,"end":63,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"Forecasting the financial risks associated with climate change is a challenging task, particularly due to the lack of business-specific impact models. However, the careful selection of reporting metrics can build the necessary evidence base. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Organisations, especially those in the early stages of addressing climate risk, can leverage a strategic set of metrics to develop a nuanced understanding of potential financial impacts. This iterative process enables continuous learning and refinement of risk assessment models over time.","spans":[],"direction":"ltr"}],"showTopBorder":false,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$e0625094-85a6-43e1-adef-971e087a892b","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"quoteText":[{"type":"paragraph","text":"The dynamics of climate change necessitate a learning system that adapts to current events. Metrics should not be static but responsive to the evolving environmental landscape.  ","spans":[],"direction":"ltr"}],"quoteAuthor":[],"image":{"dimensions":{"width":7952,"height":5304},"alt":"green trees covered with fog","copyright":null,"url":"https://images.unsplash.com/photo-1624239843776-bc73d46504bf?crop=entropy&cs=srgb&fm=jpg&ixid=M3wzMzc0NjN8MHwxfHNlYXJjaHwzMHx8Y2xpbWF0ZSUyMGNoYW5nZXxlbnwwfHx8fDE3MDI4NjIzMDJ8MA&ixlib=rb-4.0.3&q=85?auto=compress,format","id":"Ihsi88KpQkE","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"imagePosition":"Right"},"id":"article_quote_and_image$9eaaa3d0-dfe8-4c87-b3ec-c0a1f34f5282","slice_type":"article_quote_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[],"primary":{"title":[],"text":[{"type":"paragraph","text":"5. Integrating Current Events into a Learning System: A Dynamic Approach","spans":[{"start":0,"end":72,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"By linking metrics to risk assessment, organisations can create a feedback loop that incorporates real-time data and insights. This dynamic approach ensures that climate action remains relevant, effective, and aligned with the ever-changing challenges posed by climate change. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":" 6. Exploring Alignment with Existing Targets: Maximising Impact through Integration  ","spans":[{"start":0,"end":86,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"To enhance the effectiveness of climate disclosure, organisations should explore how existing targets for other reporting align with climate disclosure metrics. By integrating climate-related metrics into broader sustainability goals, companies can maximise the impact of their actions.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"This alignment fosters a more cohesive and comprehensive approach to corporate responsibility, reinforcing the interconnected nature of various environmental, social, and governance (ESG) factors. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"By embracing a tailored, dynamic, and integrated approach to metrics, businesses can navigate the challenges of climate risks while contributing meaningfully to a sustainable future. ","spans":[{"start":0,"end":183,"type":"em"}],"direction":"ltr"}],"showTopBorder":false,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$fd069736-7c73-4a58-85c6-447ce6eacaca","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"text":[{"type":"paragraph","text":"Learn how to Thrive in the New Era of ESG Disclosure with our latest Discussion Paper. Read it here.","spans":[{"start":95,"end":99,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/esg-disclosure-handbook","target":"_blank"}}],"direction":"ltr"}],"bgColor":"Mineral","alignment":"Center","fontSize":"Small","fontWeight":"Heavy"},"id":"text_panel$f73dd706-4db7-481b-b682-2f066e53637c","slice_type":"text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{"contentItem":{"id":"ZX-DIhAAAAaBHPoR","type":"article","tags":[],"lang":"en-au","slug":"-","first_publication_date":"2023-12-18T00:18:16+0000","last_publication_date":"2024-04-16T06:05:24+0000","uid":"navigating-climate-governance","link_type":"Document","key":"79403e30-1d66-40ff-bfae-4bc3b9c82af5","isBroken":false}},{"contentItem":{"id":"ZQfbThIAACMAqMal","type":"article","tags":[],"lang":"en-au","slug":"tnfd-is-here-what-does-it-mean-for-your-business--how-to-get-started","first_publication_date":"2023-09-18T05:30:54+0000","last_publication_date":"2024-08-26T13:06:55+0000","uid":"tnfd-is-here","link_type":"Document","key":"4ff44a0a-20cd-42ad-990b-74cd74c4129d","isBroken":false}},{"contentItem":{"id":"ZUhXDhAAACMAxEob","type":"article","tags":[],"lang":"en-au","slug":"circular-procurement-opportunities-for-local-government","first_publication_date":"2023-11-06T07:08:02+0000","last_publication_date":"2023-11-24T01:05:08+0000","uid":"circular-procurement-for-local-government","link_type":"Document","key":"cc5e244d-4829-4f21-9ad3-fdf2c9e5ddf1","isBroken":false}}],"primary":{"ctaLabel":"Read more","blurbWordLimit":20,"isDynamicContent":false},"id":"related_content_list$29fcefc5-081e-4c8e-84bd-95b67cf8d641","slice_type":"related_content_list","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"newsletterTitle":"Newsletter","newsletterDescription":[{"type":"paragraph","text":"Be first to get our ideas, invites and breakthroughs.
Join the list with your name and email.","spans":[]}],"signUpBtnLabel":"Sign Up","hideCareersSection":false,"careersTitle":"Careers at Edge","careersDescription":[{"type":"paragraph","text":"We have a number of exciting projects in the works and are rapidly expanding our team of consultants. Below are our latest job openings across our global offices. ","spans":[]}],"careersCTALink":{"link_type":"Web","key":"880deedc-c89a-4afa-8274-df8a5242806c","url":"https://edge.teamtailor.com/"},"careersCTALabel":"Careers Page","image":{"dimensions":{"width":1920,"height":1350},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/8f57f643-bfb3-4d51-b7ad-7be2606fa9c5_Edge_Round-FA02_BG_Shot06.png?auto=compress,format","id":"ZOMZsxAAACIAw0Zd","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"successText":[{"type":"paragraph","text":"Thanks for signing up! ","spans":[]}]},"id":"newsletter_panel$d8298fce-a3b7-44b7-86a4-61b85610e840","slice_type":"newsletter_panel","slice_label":null}],"title":"Guiding Climate Action Through Informed Decision-Making","date":"16 January 2023"},"link_type":"Document","key":"ea0053e0-4c2f-4a3c-b52f-b22511e972d9","isBroken":false}},{"contentItem":{"id":"ZQfbThIAACMAqMal","type":"article","tags":[],"lang":"en-au","slug":"tnfd-is-here-what-does-it-mean-for-your-business--how-to-get-started","first_publication_date":"2023-09-18T05:30:54+0000","last_publication_date":"2024-08-26T13:06:55+0000","uid":"tnfd-is-here","data":{"readingTime":"7 minutes.","uid":"tnfd-is-here","slices":[{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"article":{"link_type":"Document"},"title":[{"type":"heading1","text":"TNFD is here: What Does It Mean for Your Business & How to Get Started","spans":[],"direction":"ltr"}],"subtitle":[{"type":"paragraph","text":"Written by: Sarah Day, Principal Consultant, Nature & Biodiversity","spans":[],"direction":"ltr"}],"blurb":[{"type":"paragraph","text":"","spans":[]}],"image":{"dimensions":{"width":3637,"height":2046},"alt":"Smoke billowing from power plant towers alongside a lush field, underscoring the necessity for TNFD-guided environmental reporting.","copyright":null,"url":"https://images.prismic.io/edgeimpact/ZhiCwDjCgu4jzxS__wim-van-t-einde-RngTOSHC6ys-unsplash.jpg?auto=format,compress","id":"ZhiCwDjCgu4jzxS_","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"layoutType":"Aligned Bottom","blurbWordLimit":null,"ctaLabel":null},"id":"article_title$443bd272-8c2c-4ff5-83b6-deb173cbb714","slice_type":"article_title","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{"customTag":"NATURE POSITIVE"},{"customTag":"TNFD"},{"customTag":"SBTN"},{"customTag":"RISK MANAGEMENT"},{"customTag":"STRATEGY"}],"primary":{"showTags":false,"showShareLinks":false,"shareLabel":null},"id":"article_tags_and_share_links$d1416aee-4c9e-4183-ab7d-23fd1002dea3","slice_type":"article_tags_and_share_links","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[],"text":[{"type":"heading2","text":"Introduction to TNFD and Its Significance:","spans":[{"start":0,"end":42,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"With the recent release of the Taskforce on Nature Related Financial Disclosures (TNFD) framework, how does your business actually plan to have a positive impact on nature?","spans":[{"start":0,"end":172,"type":"em"}],"direction":"ltr"},{"type":"paragraph","text":"","spans":[],"direction":"ltr"},{"type":"paragraph","text":"We stand at a pivotal moment in history, where our actions can either perpetuate the degradation of our planet or pave the way towards a nature-positive future.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"There are ample opportunities for businesses to manage risks, engage in a sustainable way with nature, and achieve positive outcomes for nature, their organisations and society… and yet most companies, investors and lenders today inadequately account for nature-related risks and opportunities in their decision making.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"This is where the Taskforce on Nature Related Financial Disclosures (TNFD) comes in.","spans":[{"start":18,"end":67,"type":"hyperlink","data":{"link_type":"Web","url":"https://tnfd.global/","target":"_blank"}}],"direction":"ltr"},{"type":"paragraph","text":"","spans":[],"direction":"ltr"},{"type":"heading2","text":"Understanding the TNFD Framework:","spans":[{"start":0,"end":33,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"The TNFD framework is a risk management and disclosure framework for businesses to identify, assess, respond and, where appropriate, disclose their nature-related issues.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"It will encourage early action by any organisation (corporate, investor, government) to begin disclosing nature-related dependencies, impacts, risks and opportunities.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"The TNFD has been developed to highlight the interrelationship between nature and climate and provide a platform for integrated nature-related disclosures in the same way the Taskforce on Climate-related Financial Disclosures (TCFD) did for climate.","spans":[{"start":175,"end":225,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.fsb-tcfd.org/","target":"_blank"}}],"direction":"ltr"},{"type":"paragraph","text":"","spans":[],"direction":"ltr"},{"type":"heading3","text":"What is the difference between TNFD and TCFD?","spans":[],"direction":"ltr"},{"type":"paragraph","text":"While both the Taskforce on Nature Related Financial Disclosures (TNFD) and Taskforce on Climate-related Financial Disclosures (TCFD) are pivotal in guiding organisations toward more sustainable and transparent practices, they focus on different aspects of environmental impact.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"The TCFD, or Taskforce on Climate-related Financial Disclosures, primarily addresses how organisations should disclose climate-related financial risks and opportunities. In contrast, the TNFD extends this scope to encompass the broader environmental challenges, including biodiversity loss and ecosystem degradation.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"This broader perspective is crucial as it acknowledges the intricate connections between climate change and nature, emphasising the need for a holistic approach to sustainability.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"","spans":[],"direction":"ltr"},{"type":"heading3","text":"The Four Pillars of the TNFD Framework","spans":[],"direction":"ltr"},{"type":"paragraph","text":"The TNFD disclosure recommendations are structured around four pillars, consistent with the Task Force on Climate-related Financial Disclosures (TCFD) and the International Sustainability Standards Board (ISSB), to ensure a comprehensive and unified approach to environmental sustainability and financial disclosure.","spans":[{"start":159,"end":210,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.ifrs.org/groups/international-sustainability-standards-board/","target":"_blank"}}],"direction":"ltr"},{"type":"paragraph","text":"1. Governance","spans":[{"start":0,"end":13,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"Governance lies at the heart of the TNFD Framework, emphasising the critical roles of both board oversight and management in evaluating and addressing nature-related issues.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"This includes a comprehensive approach to managing the organisation's impact on nature, adhering to human rights policies, and actively engaging with indigenous peoples and other stakeholders in local communities affected by nature-related activities.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"2. Strategy","spans":[{"start":0,"end":11,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"The Strategy pillar demands organisations to thoroughly examine the nature-related challenges they face across different time horizons—short, medium, and long term. It involves understanding how these challenges impact the business model, value chain, financial planning, and overall strategy.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Moreover, it assesses the resilience of the organisation’s strategy against identified nature-related issues, ensuring a sustainable approach to navigating future uncertainties.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"3. Risk & Impact Management","spans":[{"start":0,"end":27,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"This pillar focuses on the processes for identifying and managing nature-related risks and impacts, not just within direct operations but also throughout the upstream and downstream value chains.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"It underscores the importance of integrating these processes into the organisation's overarching risk management framework, thereby ensuring a comprehensive approach to environmental stewardship and sustainability.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"4. Metrics & Targets","spans":[{"start":3,"end":20,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"Lastly, the TNFD Framework advocates for the adoption of specific metrics and targets to assess and manage material nature-related issues effectively.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"This involves setting clear, measurable goals for managing the organisation's impact on nature and tracking performance against these targets, facilitating transparent reporting and continuous improvement in environmental performance.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"By integrating nature into strategic and capital allocation decision making, the TNFD Framework seeks to guide organisations and financial institutions towards a more sustainable and nature-positive future.","spans":[],"direction":"ltr"}],"showTopBorder":false,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$a6567864-7b1d-4098-b9de-898cf5fbb091","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[],"primary":{"quoteText":[{"type":"paragraph","text":"Embracing these four pillars allows businesses to not only manage their environmental footprint more effectively but also to uncover new opportunities for growth and innovation in a rapidly evolving global landscape.","spans":[],"direction":"ltr"}],"quoteAuthor":[],"image":{"dimensions":{"width":3992,"height":2992},"alt":"Arial view of a multiple highways intersecting across a parkland and cityscape.","copyright":null,"url":"https://images.prismic.io/edgeimpact/ZhiGVTjCgu4jzxTs_denys-nevozhai-7nrsVjvALnA-unsplash.jpg?auto=format,compress","id":"ZhiGVTjCgu4jzxTs","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"imagePosition":"Right"},"id":"article_quote_and_image$f08e6211-a509-43c9-ad10-7c5c170e2fb2","slice_type":"article_quote_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[],"primary":{"title":[],"text":[{"type":"heading3","text":"Is the TNFD Mandatory?","spans":[],"direction":"ltr"},{"type":"paragraph","text":"The TNFD Framework, much like its predecessors the TCFD and ISSB standards, is on a trajectory to be woven into domestic regulatory frameworks across the globe. Various governments have already expressed their support for the TNFD, indicating plans to embed its principles within their national regulatory systems.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"A prime example of this emerging trend is the UK Government's Green Finance Strategy, unveiled in March 2023. This strategy reaffirms the UK's dedication to the TNFD's objectives and explores the integration of the TNFD framework into the UK's policy and legislative framework, aligning with Target 15 of the Global Biodiversity Framework.","spans":[{"start":46,"end":84,"type":"hyperlink","data":{"link_type":"Web","url":"https://assets.publishing.service.gov.uk/media/643583fb877741001368d815/mobilising-green-investment-2023-green-finance-strategy.pdf","target":"_blank"}}],"direction":"ltr"},{"type":"paragraph","text":"At the regional level, the European Union has made strides by incorporating elements of the TNFD guidance into its regulatory reporting mandate, specifically through the Corporate Sustainability Reporting Directive (CSRD).","spans":[{"start":170,"end":221,"type":"hyperlink","data":{"link_type":"Web","url":"https://finance.ec.europa.eu/capital-markets-union-and-financial-markets/company-reporting-and-auditing/company-reporting/corporate-sustainability-reporting_en","target":"_blank"}}],"direction":"ltr"},{"type":"paragraph","text":"This directive mandates that entities falling under its scope must align their corporate disclosures with the European Sustainability Reporting Standards (ESRS), incorporating the TNFD's LEAP approach into several key areas of materiality assessments, including pollution, water and marine resources, biodiversity and ecosystems, as well as resource use and the circular economy.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"While the formal inclusion of TNFD reporting requirements into mandatory regulatory regimes is still in the works, the TNFD itself has committed to monitoring voluntary adoption by the market. Starting in 2024, an annual status update report will be published to track the progress of TNFD's voluntary integration, setting the stage for its eventual mandatory adoption in regulatory practices worldwide.","spans":[],"direction":"ltr"},{"type":"heading3","text":"Advantages and Disadvantages of Adopting the TNFD","spans":[],"direction":"ltr"},{"type":"paragraph","text":"While the Taskforce on Nature-related Financial Disclosures (TNFD) is currently a voluntary framework, companies are encouraged to weigh both the potential benefits and challenges associated with its adoption.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Here’s a closer look at the advantages and disadvantages that come with embracing the TNFD principles.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Advantages","spans":[{"start":0,"end":10,"type":"strong"}],"direction":"ltr"},{"type":"o-list-item","text":"Attract Investors: In today's market, there's a growing appetite among investors for companies that proactively manage their environmental impact. TNFD disclosures can serve as a testament to a company's commitment to sustainability, potentially drawing in more investment by showcasing forward-thinking environmental stewardship.","spans":[],"direction":"ltr"},{"type":"o-list-item","text":"Reduce Risk: Embracing TNFD allows companies to identify, assess, and mitigate climate-related risks early on. This proactive approach can enhance financial stability and safeguard against the operational and supply chain disruptions often precipitated by environmental challenges.","spans":[{"start":209,"end":221,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/sep","target":"_blank"}}],"direction":"ltr"},{"type":"o-list-item","text":"Future-Proof Business: With environmental regulations becoming increasingly stringent, the future is likely to mandate nature-related disclosures across the board. Early adopters of the TNFD framework will find themselves ahead of regulatory trends, ensuring a smoother transition to compliance and fostering a resilient business model in the face of evolving environmental legislation.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Disadvantages","spans":[{"start":0,"end":13,"type":"strong"}],"direction":"ltr"},{"type":"o-list-item","text":"Costs: Integrating TNFD recommendations into corporate strategies involves initial investments in robust data collection, thorough analysis, and comprehensive reporting infrastructures. These upfront costs are a crucial consideration for companies contemplating TNFD adoption.","spans":[],"direction":"ltr"},{"type":"o-list-item","text":"Greenwashing Risk: There's a legitimate concern that companies might lean towards TNFD reporting as a means of enhancing their environmental image without committing to meaningful action on nature conservation. It is imperative that firms approach TNFD adoption with the intent of genuine implementation, beyond just ticking boxes for compliance or public relations benefits.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Adopting the TNFD framework presents a strategic decision for companies, balancing the allure of long-term sustainability and investor appeal against the realities of initial costs and the imperative for authentic engagement with environmental challenges.","spans":[],"direction":"ltr"}],"showTopBorder":false,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$114db12a-f5c6-485c-9bf8-2ea3a5c7c7ee","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"quoteText":[{"type":"paragraph","text":"As the business landscape evolves towards greater transparency and accountability in environmental impact, the TNFD offers a path for companies to not only align with emerging global standards but also to actively contribute to a more sustainable and resilient future.","spans":[],"direction":"ltr"}],"quoteAuthor":[],"image":{"dimensions":{"width":6000,"height":3836},"alt":"A dense and lush green forest with small clouds floating across.","copyright":null,"url":"https://images.prismic.io/edgeimpact/ZhiG1jjCgu4jzxTu_ricardo-arce-G_02WDdVfF0-unsplash.jpg?auto=format,compress","id":"ZhiG1jjCgu4jzxTu","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"imagePosition":"Right"},"id":"article_quote_and_image$abfe223a-c043-4b14-b69f-c9a730a8b096","slice_type":"article_quote_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[],"text":[{"type":"heading2","text":"The LEAP Framework: Guiding Organisations in Nature Disclosures","spans":[{"start":0,"end":63,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"As new driving frameworks roll out in this space, there is no one-size-fits-all solution for companies. To address nature in a meaningful way, companies should come up with a strategy informed by the framework(s) relevant to their context.","spans":[{"start":175,"end":212,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/esgandstrategy","target":"_blank"}}],"direction":"ltr"},{"type":"paragraph","text":"The TNFD leverages the LEAP (Locate, Evaluate, Assess, Prepare) framework to guide nature-disclosures, sitting within the same TCFD disclosure requirements for an organisation to identify the governance, strategy, risk management and metrics and targets it will undertake to address the identified risks.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"","spans":[],"direction":"ltr"},{"type":"image","url":"https://images.prismic.io/edgeimpact/eda3797d-78e3-4d88-a5ed-190b814c077b_Picture+1.png?auto=compress,format","alt":"A table outlining the LEAP (Locate, Evaluate, Assess, Prepare) framework and the engagement with affected stakeholders","copyright":null,"dimensions":{"width":3599,"height":1995},"id":"ZQfishIAAB4AqNGI","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},{"type":"paragraph","text":"However, the LEAP framework concludes at prepare (for reporting); preparation should not be an end point, but rather the beginning of a broader nature journey. It is simply not enough to prepare to respond and report: companies must actually do something about their impacts on nature.","spans":[],"direction":"ltr"},{"type":"image","url":"https://images.prismic.io/edgeimpact/a33f0b1e-380f-45d7-8133-8751e609ec7f_Picture+2.png?auto=compress,format","alt":"Target setting through TNFD and SBTN aligned across 8 common outputs, table outlining the TNFD LEAP. the 8 common outputs and the SBTN 5-step approach.","copyright":null,"dimensions":{"width":2142,"height":682},"id":"ZQfiqxIAAB4AqNF-","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}}],"showTopBorder":false,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$23f60c1a-8897-4f3b-8d04-d6b05ac965a9","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[{"type":"heading2","text":"","spans":[]}],"text":[{"type":"paragraph","text":"At this point the TNFD recommends companies use the Science-Based Targets for Nature (SBTN) guidance for setting a target for their nature impacts. Despite published guidance, the interaction between these two leading frameworks is not particularly simple.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"","spans":[],"direction":"ltr"},{"type":"heading3","text":"Challenges and Opportunities in Combining TNFD and SBTN","spans":[],"direction":"ltr"},{"type":"paragraph","text":"There are eight common outputs, and at a first glance the frameworks may appear interchangeable. In practice though, relying on TNFD’s LEAP process and tacking on SBTN at the end may detract from SBTN's role of identifying material impacts upfront and acting where impacts can be most realised. This approach risks minimising the depth of materiality within the supply chain that SBTN aims to uncover.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Conversely, working solely to set an SBTN could potentially minimise an organisation’s ability to discover and disclose meaningful data which could be of value to many organisations and influential beyond.","spans":[],"direction":"ltr"},{"type":"heading3","text":"Tailoring the Approach to Each Organisation's Unique Context","spans":[],"direction":"ltr"},{"type":"paragraph","text":"The interaction between these two frameworks, and the relevance of each, will be different for each company. A large retailer with less direct dependencies and risks on nature may be better suited to the more detailed supply chain assessment that SBTN endorses, before proceeding to using the data and analytical outputs generated to apply parts of the TNFD’s LEAP approach for a nature-related risk and opportunity assessment.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"However, in the same position, a smaller corporate with specific goods may benefit from reporting their nature-related dependencies, impacts, risks and opportunities, and using these disclosures to then create a nature strategy with informed science-based targets.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Whether an organisation should align with TNFD or SBTN (or both) is not as simple as an either/or decision; each organisation’s experience of the interaction between the frameworks will be unique.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Ultimately, it is not about starting with the end-point framework for disclosing impacts and targets, but about creating a strategy to understand and address your organisation’s relationship with nature.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Taking this approach, starting with an overarching plan for how your organisation will approach nature, provides your organisation with the space to plan to do this properly – avoiding risks of greenwashing, greenhushing or greenrushing.","spans":[{"start":194,"end":237,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/greenwashing-handbook","target":"_blank"}}],"direction":"ltr"}],"showTopBorder":false,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$cb886c08-28bf-4f80-9eb5-9d0bd892d335","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"quoteText":[{"type":"paragraph","text":"Whether an organisation should align with TNFD or SBTN (or both) is not as simple as an either/or decision; each organisation’s experience of the interaction between the frameworks will be unique","spans":[],"direction":"ltr"}],"quoteAuthor":[],"image":{"dimensions":{"width":7360,"height":4912},"alt":"A factory with employees taking performing tasks and adopting the TNFD framework within their organisation.","copyright":null,"url":"https://images.prismic.io/edgeimpact/ZhiHPjjCgu4jzxTy_remy-gieling-qqtE2yX7POI-unsplash.jpg?auto=format,compress","id":"ZhiHPjjCgu4jzxTy","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"imagePosition":"Right"},"id":"article_quote_and_image$f2c51bc3-edf7-4941-ba63-1c18ddb84349","slice_type":"article_quote_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[],"text":[{"type":"heading2","text":"Edge Impact's Role in Your Journey Towards Nature Positivity","spans":[],"direction":"ltr"},{"type":"paragraph","text":"At Edge Impact, we offer an understanding of both of these frameworks, and are working with companies to create a tailored, specific nature strategy.","spans":[{"start":3,"end":15,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/","target":"_blank"}}],"direction":"ltr"},{"type":"paragraph","text":"We acknowledge that every organisation’s impacts, dependencies, goals, and capacity are different, and the real impacts will come from positioning your organisation beyond being committed to addressing nature, but addressing nature in your unique context.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"We appreciate that when talking about nature in the context of avoiding the climate crisis, time is not on our side. But we’ve only got one chance to set this global mindset up to succeed, and if we want to ensure nature efforts are taken seriously, we need to make sure each organisation is doing what’s within their specific capacity to act.","spans":[],"direction":"ltr"},{"type":"heading2","text":"Our Services","spans":[],"direction":"ltr"},{"type":"paragraph","text":"As experts in the full spectrum of sustainability topics, we are here to guide you through the complexity. Our team includes specialists from across the globe; from strategists to economists, engineers to creatives. Since 2008, we have been helping businesses, organisations, industries and societies make transformation happen.\n\nOur areas of expertise are focussed around the following areas:\n\nLeadership and Transformation\nESG and Strategy\nCircular Economy and Lifecycle Thinking\nProcurement and Supply Chain\nBuilt Environment\nNature and Biodiversity\nBrand, Communications and Creative","spans":[{"start":395,"end":587,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/","target":"_blank"}}],"direction":"ltr"},{"type":"heading2","text":"Key Takeaway","spans":[],"direction":"ltr"},{"type":"paragraph","text":"As new driving frameworks roll out in this space, there is no one-size-fits-all solution for companies. To address nature in a meaningful way, companies should come up with a strategy informed by the framework(s) relevant to their context.","spans":[],"direction":"ltr"}],"showTopBorder":true,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$efff9775-edef-4bda-a90c-7930adc3ac08","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"text":[{"type":"paragraph","text":"Please get in touch and learn how we at Edge Impact can help your company implement these frameworks, and work together towards nature positive","spans":[{"start":7,"end":19,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/contact","target":"_blank"}}],"direction":"ltr"}],"bgColor":"Mineral","alignment":"Center","fontSize":"Small","fontWeight":"Heavy"},"id":"text_panel$6ed2f7eb-c8e1-45b9-aec1-fd18917e0997","slice_type":"text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{"customTag":null}],"primary":{"showTags":false,"showShareLinks":true,"shareLabel":"Share this"},"id":"article_tags_and_share_links$af0ffe53-0e99-4a58-9d7d-a087fa8c479a","slice_type":"article_tags_and_share_links","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[],"primary":{"ctaLabel":"Read more","blurbWordLimit":20,"isDynamicContent":false},"id":"related_content_list$29fcefc5-081e-4c8e-84bd-95b67cf8d641","slice_type":"related_content_list","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"newsletterTitle":"Newsletter","newsletterDescription":[{"type":"paragraph","text":"Be first to get our ideas, invites and breakthroughs.
Join the list with your name and email.","spans":[],"direction":"ltr"}],"signUpBtnLabel":"Sign Up","hideCareersSection":true,"careersTitle":null,"careersDescription":[],"careersCTALink":{"link_type":"Any"},"careersCTALabel":null,"image":{"dimensions":{"width":1920,"height":1350},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/e117ad8d-da0f-4285-a5d5-3331309066cf_Edge_Round-FA02_BG_Shot06.png?auto=compress,format","id":"ZDiQ3hAAACAAgq39","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"successText":[]},"id":"newsletter_panel$816e74e0-e33b-4338-aa87-9238de152721","slice_type":"newsletter_panel","slice_label":null}],"title":"TNFD is here: What Does It Mean for Your Business & How to Get Started","date":"12 Apr, 2024"},"link_type":"Document","key":"efa26004-6ed2-4ba4-bd91-8f009b49788b","isBroken":false}},{"contentItem":{"id":"ZVLAABEAACQAf73D","type":"article","tags":[],"lang":"en-au","slug":"-","first_publication_date":"2023-11-14T01:11:16+0000","last_publication_date":"2023-11-28T02:12:19+0000","uid":"circular-economy-how-to-measure-circularity","data":{"readingTime":"8 min. read","uid":"circular-economy-how-to-measure-circularity","slices":[{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"article":{"link_type":"Document"},"title":[{"type":"heading1","text":"How and why organisations should measure their level of circularity","spans":[],"direction":"ltr"}],"subtitle":[{"type":"paragraph","text":"Written by \nJess Braun, Senior Consultant, Circular Economy and Lifecycle Thinking","spans":[]}],"blurb":[{"type":"paragraph","text":"","spans":[]}],"image":{"dimensions":{"width":7084,"height":4728},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/db4c250a-6e4c-4b38-9dc6-56d00b89413a_AdobeStock_304378386.jpeg?auto=compress,format","id":"ZVLC4BEAACQAf8qH","edit":{"x":0,"y":0,"zoom":1,"background":"#fff"}},"layoutType":null,"blurbWordLimit":null,"ctaLabel":null},"id":"article_title$443bd272-8c2c-4ff5-83b6-deb173cbb714","slice_type":"article_title","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{"customTag":"Circular Economy"},{"customTag":"Life Cycle Assessment"},{"customTag":"Supply Chain"}],"primary":{"showTags":false,"showShareLinks":false,"shareLabel":null},"id":"article_tags_and_share_links$d1416aee-4c9e-4183-ab7d-23fd1002dea3","slice_type":"article_tags_and_share_links","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"text":[{"type":"paragraph","text":"This article explores the importance of measuring circularity, the associated challenges, and various methods and tools available to facilitate this ongoing and critical process.","spans":[]}],"bgColor":"None","alignment":"Center","fontSize":"Medium","fontWeight":null},"id":"text_panel$1eda21fa-d581-4bbc-9463-01375ed64f84","slice_type":"text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[{"type":"heading2","text":"The 3 Keys Benefits of Measuring Circularity","spans":[]}],"text":[{"type":"paragraph","text":"Measuring circularity is crucial in our pursuit of a more regenerative future. It provides us with a clear understanding of our current practices and their impact on the environment, economy, and society.  ","spans":[]},{"type":"paragraph","text":"The key benefits include:  ","spans":[{"start":0,"end":27,"type":"strong"}]},{"type":"o-list-item","text":"Resource Allocation: \nMeasuring circularity enables prioritisation when resources are limited. It informs decision-makers about which areas need attention first, and which should follow.  \n","spans":[{"start":0,"end":21,"type":"em"}]},{"type":"o-list-item","text":" Buy-In and Investment:  \nGaining the endorsement of decision-makers to invest in new ways of doing things requires concrete evidence. Measuring circularity provides the necessary data to gain buy-in and secure investment in initiatives that will drive sustainability efforts forward. \n","spans":[{"start":0,"end":25,"type":"em"}]},{"type":"o-list-item","text":"Continuous Improvement:  \nMeasuring circularity should not be a one-time endeavor. It's an ongoing process that allows us to experiment with new solutions, learn from our experiences, and adapt accordingly. Continuous evaluation is key to improving efficiency and effectiveness of initiatives over time and responding to changing conditions.","spans":[{"start":0,"end":25,"type":"em"}]}],"showTopBorder":null,"showBottomBorder":null,"largeTextMode":null},"id":"article_text_panel$a6567864-7b1d-4098-b9de-898cf5fbb091","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"quoteText":[{"type":"paragraph","text":"By assessing our circularity, we can identify the disparities between where we are now and where we need to be to create a world that is both ecologically stable and socially inclusive.","spans":[]}],"quoteAuthor":[{"type":"paragraph","text":"","spans":[]}],"image":{"dimensions":{"width":4071,"height":2717},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/6badb057-c9b9-47bc-9f5c-838c458f78a1_luiza-giannelli-1RIlmivtNhw-unsplash.jpg?auto=compress,format","id":"ZVLIdBEAACEAf-OZ","edit":{"x":0,"y":0,"zoom":1,"background":"#fff"}},"imagePosition":null},"id":"article_quote_and_image$aebee067-dd18-42ee-a884-583f586776a7","slice_type":"article_quote_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[{"type":"heading2","text":"Challenges in Measuring Circularity","spans":[]}],"text":[{"type":"paragraph","text":"While the importance of measuring circularity is undeniable, there are several challenges to contend with in the process. ","spans":[]},{"type":"o-list-item","text":"Data Availability and Accessibility:  \nRelevant data for measuring circularity is often distributed across value chains. Gathering this data can be a daunting task, and accessibility can be limited. Demonstrating the benefits of partnering and value chain collaboration will support greater data accessibility. \n","spans":[{"start":0,"end":38,"type":"em"}]},{"type":"o-list-item","text":"High Cost:  \nMeasuring circularity can be a relatively manual and expensive process, particularly in the early stages. However, open-source tools, digitisation and automation are promising avenues to reduce this financial burden.  \n","spans":[{"start":0,"end":12,"type":"em"}]},{"type":"o-list-item","text":"Complexity:  \nTransforming the economy to being circular is a complex endeavour involving diverse stakeholders across systems. These different audiences require different sets of metrics, making the measurement process more complex. ","spans":[{"start":0,"end":13,"type":"em"}]}],"showTopBorder":true,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$efff9775-edef-4bda-a90c-7930adc3ac08","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"text":[{"type":"paragraph","text":"Do you need support measuring your organisation's level of Circularity? We can help. Contact Us Today.","spans":[{"start":85,"end":102,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/contact"}}]}],"bgColor":"Mineral","alignment":"Center","fontSize":"Small","fontWeight":"Heavy"},"id":"text_panel$f01a1cd8-6304-469e-ab59-f72683e4e879","slice_type":"text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[{"type":"heading2","text":"Methods for Circular Economy Measurement","spans":[]}],"text":[{"type":"paragraph","text":"Circular economy measurement is an emerging space; however, a range of methods, tools and frameworks are available to provide guidance. Some key examples include: ","spans":[]},{"type":"o-list-item","text":"Material Flow Analysis: Material flow analysis (MFA) is a fundamental technique that provides a view of the flow of materials within a defined scope, such as one organisation or a whole state, highlighting areas where resources are wasted and where opportunities for greater circularity lie.  ","spans":[{"start":0,"end":23,"type":"strong"}]},{"type":"o-list-item","text":"Impact Assessments: Impact assessments quantify the environmental and/or social impact associated with, for example, a flow of materials, a product, a process, or an organisation’s supply chain. They provide essential evidence on the consequences of current practices or demonstrating the potential of future practices. Assessments should align to the GHG Protocol and ISO standards for lifecycle analysis.  ","spans":[{"start":0,"end":19,"type":"strong"}]},{"type":"o-list-item","text":"Cost-Benefit Analysis: Cost-benefit analysis (CBA) compares scenarios across both financial and non-financial metrics. This helps organisations make informed decisions about the adoption of new circular practices and initiatives. CBAs are often preceded by an MFA or impact assessment which provides the underlying data. ","spans":[{"start":0,"end":22,"type":"strong"}]},{"type":"o-list-item","text":"European Sustainability Reporting Standards (ESRS): ESRS offers guidelines for ESG reporting and disclosures for European companies or those with significant European market operations. It ensures consistency across different organisations, playing a pivotal role in enhancing circularity measurement capabilities and fostering collaboration within supply chains to improve data availability and accessibility. ","spans":[{"start":0,"end":52,"type":"strong"}]},{"type":"o-list-item","text":"Increasingly relevant frameworks: It’s becoming increasingly clear that more circular ways of producing and consuming resources are necessary to achieve global carbon emissions and biodiversity goals. As such, linkages are growing between circular economy measurement and the Science Based Targets Initiative for carbon emissions and conserving nature, and the Task Force on Climate-related and Nature-related Financial Disclosures. \n","spans":[{"start":0,"end":33,"type":"strong"}]}],"showTopBorder":null,"showBottomBorder":null,"largeTextMode":null},"id":"article_text_panel$27f69c24-d823-4a1b-867e-6c88e6fc7fe7","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"quoteText":[{"type":"paragraph","text":"Measuring circularity should not be a one-time endeavor. It's an ongoing process that allows us to experiment with new solutions, learn from our experiences, and adapt accordingly. Continuous evaluation is key to improving efficiency and effectiveness of initiatives over time and responding to changing conditions.","spans":[]}],"quoteAuthor":[],"image":{"dimensions":{"width":5184,"height":3888},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/9d583188-237d-49ad-ba54-fb6ab2e8d876_kvalifik-5Q07sS54D0Q-unsplash.jpg?auto=compress,format","id":"ZVLHzREAACEAf-CY","edit":{"x":0,"y":0,"zoom":1,"background":"#fff"}},"imagePosition":"Right"},"id":"article_quote_and_image$9eaaa3d0-dfe8-4c87-b3ec-c0a1f34f5282","slice_type":"article_quote_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"text":[{"type":"paragraph","text":"Begin your circularity journey with confidence. Contact Us Today.","spans":[{"start":48,"end":65,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/contact"}}]}],"bgColor":"Mineral","alignment":"Center","fontSize":"Small","fontWeight":"Heavy"},"id":"text_panel$6ed2f7eb-c8e1-45b9-aec1-fd18917e0997","slice_type":"text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{"customTag":null}],"primary":{"showTags":false,"showShareLinks":true,"shareLabel":"Share this"},"id":"article_tags_and_share_links$af0ffe53-0e99-4a58-9d7d-a087fa8c479a","slice_type":"article_tags_and_share_links","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{"contentItem":{"id":"ZThyHRAAACUAeM2g","type":"article","tags":[],"lang":"en-au","slug":"-","first_publication_date":"2023-10-25T02:49:24+0000","last_publication_date":"2023-12-18T02:48:51+0000","uid":"decarbonisation-and-circular-economy-strategy","link_type":"Document","key":"71a0885a-853c-4d21-ba63-d1cc1e85edd7","isBroken":false}},{"contentItem":{"id":"ZUhXDhAAACMAxEob","type":"article","tags":[],"lang":"en-au","slug":"circular-procurement-opportunities-for-local-government","first_publication_date":"2023-11-06T07:08:02+0000","last_publication_date":"2023-11-24T01:05:08+0000","uid":"circular-procurement-for-local-government","link_type":"Document","key":"a2decce9-f669-4daa-b17f-07ceaf946818","isBroken":false}},{"contentItem":{"id":"ZQfbThIAACMAqMal","type":"article","tags":[],"lang":"en-au","slug":"tnfd-is-here-what-does-it-mean-for-your-business--how-to-get-started","first_publication_date":"2023-09-18T05:30:54+0000","last_publication_date":"2024-08-26T13:06:55+0000","uid":"tnfd-is-here","link_type":"Document","key":"1d9f2d42-650b-4888-abb8-e73984a98a58","isBroken":false}}],"primary":{"ctaLabel":"Read more","blurbWordLimit":20,"isDynamicContent":null},"id":"related_content_list$29fcefc5-081e-4c8e-84bd-95b67cf8d641","slice_type":"related_content_list","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"newsletterTitle":"Newsletter","newsletterDescription":[{"type":"paragraph","text":"Be first to get our ideas, invites and breakthroughs.
Join the list with your name and email.","spans":[]}],"signUpBtnLabel":"Sign Up","hideCareersSection":null,"careersTitle":"Careers at Edge","careersDescription":[{"type":"paragraph","text":"We have a number of exciting projects in the works and are rapidly expanding our team of consultants. Below are our latest job openings across our global offices. ","spans":[]}],"careersCTALink":{"link_type":"Web","key":"b5d628fa-e97b-4b8d-bc19-d7c15c472ee8","url":"https://edge.teamtailor.com/"},"careersCTALabel":"Careers Page","image":{"dimensions":{"width":1920,"height":1350},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/8f57f643-bfb3-4d51-b7ad-7be2606fa9c5_Edge_Round-FA02_BG_Shot06.png?auto=compress,format","id":"ZOMZsxAAACIAw0Zd","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"successText":[{"type":"paragraph","text":"Thanks for signing up! ","spans":[]}]},"id":"newsletter_panel$d8298fce-a3b7-44b7-86a4-61b85610e840","slice_type":"newsletter_panel","slice_label":null}],"title":"How and Why Organisations Should Start Measuring their Level of Circularity","date":"12 November 2023"},"link_type":"Document","key":"688c14a0-0734-4705-8cd5-5632e57fb102","isBroken":false}}],"primary":{"ctaLabel":"Read more","blurbWordLimit":20,"isDynamicContent":false},"id":"related_content_list$29fcefc5-081e-4c8e-84bd-95b67cf8d641","slice_type":"related_content_list","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"newsletterTitle":"Newsletter","newsletterDescription":[{"type":"paragraph","text":"Be first to get our ideas, invites and breakthroughs.
Join the list with your name and email.","spans":[]}],"signUpBtnLabel":"Sign Up","hideCareersSection":false,"careersTitle":"Careers at Edge","careersDescription":[{"type":"paragraph","text":"We have a number of exciting projects in the works and are rapidly expanding our team of consultants. Below are our latest job openings across our global offices. ","spans":[]}],"careersCTALink":{"link_type":"Web","key":"66c3d9bf-79be-4aaa-860e-a798299a8afc","url":"https://edge.teamtailor.com/"},"careersCTALabel":"Careers Page","image":{"dimensions":{"width":1920,"height":1350},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/8f57f643-bfb3-4d51-b7ad-7be2606fa9c5_Edge_Round-FA02_BG_Shot06.png?auto=compress,format","id":"ZOMZsxAAACIAw0Zd","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"successText":[{"type":"paragraph","text":"Thanks for signing up! ","spans":[]}]},"id":"newsletter_panel$d8298fce-a3b7-44b7-86a4-61b85610e840","slice_type":"newsletter_panel","slice_label":null}],"title":"Navigating Climate Governance: Board Members","date":"18 December 2023"},"link_type":"Document","key":"e5460c98-b041-4c91-8fbd-86f72a3d67cd","isBroken":false}},{"articles":{"id":"ZX-YvhAAADGEHVpo","type":"article","tags":[],"lang":"en-au","slug":"-","first_publication_date":"2023-12-18T01:22:05+0000","last_publication_date":"2024-03-08T06:21:25+0000","uid":"metrics-that-matter-guiding-climate-action","data":{"readingTime":"8 min. read","uid":"metrics-that-matter-guiding-climate-action","slices":[{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"article":{"link_type":"Document"},"title":[{"type":"heading1","text":"Guiding Climate Action Through Informed Decision-Making ","spans":[],"direction":"ltr"}],"subtitle":[{"type":"paragraph","text":"Written by \nMark Siebentritt, Executive Director","spans":[],"direction":"ltr"}],"blurb":[{"type":"paragraph","text":"","spans":[]}],"image":{"dimensions":{"width":1300,"height":867},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/65963573531ac2845a27199f_0fb5012b-f96d-469c-92f8-65efca453719.jpg?auto=format,compress","id":"ZZY1c1MawoRaJxmf","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"layoutType":"Aligned Bottom","blurbWordLimit":null,"ctaLabel":null},"id":"article_title$443bd272-8c2c-4ff5-83b6-deb173cbb714","slice_type":"article_title","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{"customTag":"Climate Change"},{"customTag":"Climate Governance"},{"customTag":"Climate Risk"},{"customTag":"Corporate Governance"},{"customTag":"Climate Disclosure Reporting"}],"primary":{"showTags":false,"showShareLinks":false,"shareLabel":null},"id":"article_tags_and_share_links$d1416aee-4c9e-4183-ab7d-23fd1002dea3","slice_type":"article_tags_and_share_links","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[{"type":"heading2","text":"In the ever-evolving landscape of corporate responsibility, the adage \"you can't manage what you can't measure\" holds more significance than ever, especially when it comes to climate change.  ","spans":[],"direction":"ltr"}],"text":[{"type":"paragraph","text":"As pressure mounts from both shareholders and stakeholders to address environmental concerns, the need for evidence-based decision-making becomes imperative. Beyond being a good practice, it is also a requirement for climate disclosure reporting.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Here are 6 key considerations to help guide your climate action decisions:","spans":[],"direction":"ltr"},{"type":"paragraph","text":"1. Understanding Thresholds and Tipping Points: A Time-Strategic Approach","spans":[{"start":0,"end":73,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"Effective response to climate change requires a strategic approach that spans both short and long-term actions. The key lies in identifying thresholds and tipping points, pivotal moments that indicate the need for immediate action.  ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"By monitoring specific metrics, such as the occurrence of floods in successive years at a particular location, organisations can anticipate potential asset failures and allocate investments accordingly. This proactive approach not only mitigates risks but also spreads financial commitments over time, avoiding upfront financial strain.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"2. Tailoring Metrics for Diverse Climate Risks: Physical vs. Transition ","spans":[{"start":0,"end":71,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"Not all climate risks are created equal, and recognising the differences between physical and transition risks is crucial. Metrics and targets should be specifically designed to address each type of risk. For instance, physical risk metrics might focus on observable changes, such as extreme weather events or shifts in climate patterns.  ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"In contrast, transition risk metrics should delve into the intricacies of scope 1-3 reporting, going beyond mere emissions reporting. This tailored approach ensures that organisations are equipped to monitor and respond to the unique challenges posed by different climate risks","spans":[],"direction":"ltr"}],"showTopBorder":false,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$a6567864-7b1d-4098-b9de-898cf5fbb091","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[],"primary":{"quoteText":[{"type":"paragraph","text":"While much attention has been rightly placed on the connection between transition risk and scope 1-3 emissions reporting, it is not sufficient. Transition risk metrics require a more comprehensive approach, encompassing factors beyond emissions.  ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"","spans":[],"direction":"ltr"},{"type":"paragraph","text":"","spans":[],"direction":"ltr"}],"quoteAuthor":[],"image":{"dimensions":{"width":5630,"height":3648},"alt":"white electic windmill","copyright":null,"url":"https://images.unsplash.com/photo-1548337138-e87d889cc369?crop=entropy&cs=srgb&fm=jpg&ixid=M3wzMzc0NjN8MHwxfHNlYXJjaHwxNnx8Y2xpbWF0ZSUyMGNoYW5nZXxlbnwwfHx8fDE3MDI4NjIzMDJ8MA&ixlib=rb-4.0.3&q=85?auto=compress,format","id":"pONBhDyOFoM","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"imagePosition":"Right"},"id":"article_quote_and_image$cf088704-ccb5-43b8-962a-d204edbb0ce1","slice_type":"article_quote_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[],"text":[{"type":"paragraph","text":"3. Moving Beyond Scope 1-3 Reporting: Unveiling the Nuances of Transition Risk Metrics","spans":[{"start":0,"end":86,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"Recognising the clear link between emissions and carbon prices is essential, but a nuanced understanding involves exploring broader aspects of transition risks. Metrics should delve into the resilience of supply chains, the adaptability of business models, and the potential impact of policy changes. This holistic approach ensures a more robust evaluation of transition risks. ","spans":[],"direction":"ltr"}],"showTopBorder":false,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$139dd209-14da-4188-85b5-a7d515451e8e","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"text":[{"type":"paragraph","text":"Learn how our climate change services can empower your organisation to build resilience to the physical and transition risks of a changing climate. Contact Us Today.","spans":[{"start":148,"end":165,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/contact","target":"_blank"}}],"direction":"ltr"}],"bgColor":"Mineral","alignment":"Center","fontSize":"Small","fontWeight":"Heavy"},"id":"text_panel$f01a1cd8-6304-469e-ab59-f72683e4e879","slice_type":"text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[],"text":[{"type":"paragraph","text":"4. Building a Knowledge Base through Careful Metric Selection  ","spans":[{"start":0,"end":63,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"Forecasting the financial risks associated with climate change is a challenging task, particularly due to the lack of business-specific impact models. However, the careful selection of reporting metrics can build the necessary evidence base. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Organisations, especially those in the early stages of addressing climate risk, can leverage a strategic set of metrics to develop a nuanced understanding of potential financial impacts. This iterative process enables continuous learning and refinement of risk assessment models over time.","spans":[],"direction":"ltr"}],"showTopBorder":false,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$e0625094-85a6-43e1-adef-971e087a892b","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"quoteText":[{"type":"paragraph","text":"The dynamics of climate change necessitate a learning system that adapts to current events. 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Integrating Current Events into a Learning System: A Dynamic Approach","spans":[{"start":0,"end":72,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"By linking metrics to risk assessment, organisations can create a feedback loop that incorporates real-time data and insights. This dynamic approach ensures that climate action remains relevant, effective, and aligned with the ever-changing challenges posed by climate change. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":" 6. Exploring Alignment with Existing Targets: Maximising Impact through Integration  ","spans":[{"start":0,"end":86,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"To enhance the effectiveness of climate disclosure, organisations should explore how existing targets for other reporting align with climate disclosure metrics. By integrating climate-related metrics into broader sustainability goals, companies can maximise the impact of their actions.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"This alignment fosters a more cohesive and comprehensive approach to corporate responsibility, reinforcing the interconnected nature of various environmental, social, and governance (ESG) factors. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"By embracing a tailored, dynamic, and integrated approach to metrics, businesses can navigate the challenges of climate risks while contributing meaningfully to a sustainable future. ","spans":[{"start":0,"end":183,"type":"em"}],"direction":"ltr"}],"showTopBorder":false,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$fd069736-7c73-4a58-85c6-447ce6eacaca","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"text":[{"type":"paragraph","text":"Learn how to Thrive in the New Era of ESG Disclosure with our latest Discussion Paper. 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","spans":[],"direction":"ltr"}],"text":[{"type":"paragraph","text":"While this responsibility has been a constant, the emergence of climate change as a critical factor requires directors to tread new ground. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"With 20 years of experience in public and private sector governance, including 15 years dedicated to delivering climate risk processes, I believe that there are crucial aspects of climate governance that every board member should be well-versed in. ","spans":[],"direction":"ltr"}],"showTopBorder":false,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$a6567864-7b1d-4098-b9de-898cf5fbb091","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[],"primary":{"quoteText":[{"type":"paragraph","text":"Whether through the identification of specialised expertise or upskilling for all directors, the need for climate governance proficiency is undeniable and has been emphasised by professional bodies such as the AICD.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"","spans":[],"direction":"ltr"},{"type":"paragraph","text":"","spans":[],"direction":"ltr"}],"quoteAuthor":[{"type":"paragraph","text":"Mark Siebentritt, Executive Director","spans":[],"direction":"ltr"}],"image":{"dimensions":{"width":4480,"height":6720},"alt":"Mark Siebentritt, Edge Impact's Executive Director","copyright":null,"url":"https://images.prismic.io/edgeimpact/657fd2e6531ac2845a269e90_MarkSiebentritt_12.jpg?auto=format,compress","id":"ZX_S5lMawoRaJp6Q","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"imagePosition":"Right"},"id":"article_quote_and_image$cf088704-ccb5-43b8-962a-d204edbb0ce1","slice_type":"article_quote_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[{"type":"heading2","text":"Understanding Climate Risk: More than Just a Coin Toss","spans":[],"direction":"ltr"}],"text":[{"type":"paragraph","text":"Climate risk, akin to regular risk, has two main forms: physical risk and transition risk. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"The former encompasses the risks associated with a changing climate, including heatwaves, floods, and bushfires. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"On the flip side, transition risk involves the challenges of moving toward a low-carbon economy. Directors must comprehend the nuances of both and assess their organisation's vulnerability. Despite their distinctiveness, these risks inevitably trickle down to impact strategic, financial, and operational aspects.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Timeframes and Decision Lifetimes: Deciphering the Puzzle","spans":[{"start":0,"end":57,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"The timelines for climate risk assessment and response planning differ significantly from traditional business planning. Physical risks unfold over decades, presenting a unique challenge for directors.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"When to act?","spans":[{"start":0,"end":12,"type":"em"}],"direction":"ltr"},{"type":"paragraph","text":"The decision lifetimes approach becomes a valuable tool, acknowledging that decisions made today have varying spans. Directors must consider the longevity of decisions, from the choice of electrical equipment in a tolling booth to the construction of bridges on a highway, with the latter spanning 80-100 years. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"This perspective guides the incorporation of long-term climate change into current decision-making processes.","spans":[],"direction":"ltr"}],"showTopBorder":true,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$efff9775-edef-4bda-a90c-7930adc3ac08","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"text":[{"type":"paragraph","text":"We have released a Discussion Paper titled, 'How to Thrive in the New Era of ESG Disclosure\" to help organisations understand and navigate the complexities of the future ESG disclosure landscape. Download it here.","spans":[{"start":196,"end":213,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/esg-disclosure-handbook","target":"_self"}}],"direction":"ltr"}],"bgColor":"Mineral","alignment":"Center","fontSize":"Small","fontWeight":"Heavy"},"id":"text_panel$8f3142fd-d522-4e5a-b4b7-5a005d01e20c","slice_type":"text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"quoteText":[{"type":"paragraph","text":"Living with uncertainty is a fundamental aspect of climate governance. The ever-changing landscape of future climate conditions, influenced by global emissions reduction policies and unpredictable climate responses to greenhouse gases, demands a proactive approach.","spans":[],"direction":"ltr"}],"quoteAuthor":[],"image":{"dimensions":{"width":1320,"height":879},"alt":"Forest fire emitting smoke against a hazy sky, depicting environmental crisis and natural disaster","copyright":null,"url":"https://images.prismic.io/edgeimpact/657f87be531ac2845a269e37_64fd650d-7ece-4ea0-9da1-e9cb0315e213.jpg?auto=format,compress","id":"ZX-HvlMawoRaJp43","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"imagePosition":"Right"},"id":"article_quote_and_image$9eaaa3d0-dfe8-4c87-b3ec-c0a1f34f5282","slice_type":"article_quote_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[],"text":[{"type":"paragraph","text":"Embracing Uncertainty: The Role of Scenarios","spans":[{"start":0,"end":44,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"Directors can embrace uncertainty through scenario thinking, a core element of climate disclosure strategies outlined in TCFD requirements. Familiarising themselves with multiple scenarios enables directors to navigate the unpredictable nature of climate change with resilience.","spans":[{"start":121,"end":125,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.fsb-tcfd.org/","target":"_self"}}],"direction":"ltr"},{"type":"paragraph","text":"Building the Evidence Base: An Iterative Approach","spans":[{"start":0,"end":49,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"For businesses embarking on their climate risk journey, there is no one-size-fits-all formula to precisely gauge the financial impact of future risks. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"An iterative approach involving risk screening, enterprise-level risk assessment, and the development of specific financial impact models is essential. Drawing from past and current hazards, such as floods and heatwaves, provides valuable data to build a robust evidence base over time.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Aligning with ISO31000: Recognising the Differences ","spans":[{"start":0,"end":52,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"While aligning climate risk assessments with ISO31000 is considered a leading practice, directors must recognise the subtle yet crucial distinctions. Adaptation measures, aimed at reducing climate risk vulnerability, take center stage in climate risk assessment. ","spans":[{"start":45,"end":53,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.iso.org/iso-31000-risk-management.html/","target":"_self"}}],"direction":"ltr"},{"type":"paragraph","text":"Unlike traditional risk assessment, which considers only current conditions, climate risk assessment prompts directors to evaluate risk changes over multiple decades. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"As we collectively address the challenges of climate change, informed and proactive governance will be the key to success. Read more about our climate change services here.","spans":[{"start":0,"end":143,"type":"em"},{"start":143,"end":172,"type":"em"},{"start":143,"end":172,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/decarbonisationclimateresilience","target":"_self"}}],"direction":"ltr"}],"showTopBorder":false,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$139dd209-14da-4188-85b5-a7d515451e8e","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"text":[{"type":"paragraph","text":"Learn how to Thrive in the New Era of ESG Disclosure with our latest Discussion Paper. Read it here.","spans":[{"start":95,"end":99,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/esg-disclosure-handbook","target":"_blank"}}],"direction":"ltr"}],"bgColor":"Mineral","alignment":"Center","fontSize":"Small","fontWeight":"Heavy"},"id":"text_panel$f01a1cd8-6304-469e-ab59-f72683e4e879","slice_type":"text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{"contentItem":{"id":"ZX-YvhAAADGEHVpo","type":"article","tags":[],"lang":"en-au","slug":"-","first_publication_date":"2023-12-18T01:22:05+0000","last_publication_date":"2024-03-08T06:21:25+0000","uid":"metrics-that-matter-guiding-climate-action","link_type":"Document","key":"7bae26e7-fc29-48bf-8523-afcfed28dd5e","isBroken":false}},{"contentItem":{"id":"ZQfbThIAACMAqMal","type":"article","tags":[],"lang":"en-au","slug":"tnfd-is-here-what-does-it-mean-for-your-business--how-to-get-started","first_publication_date":"2023-09-18T05:30:54+0000","last_publication_date":"2024-08-26T13:06:55+0000","uid":"tnfd-is-here","link_type":"Document","key":"44925893-d5cb-4376-b85d-c93cd93f4768","isBroken":false}},{"contentItem":{"id":"ZVLAABEAACQAf73D","type":"article","tags":[],"lang":"en-au","slug":"-","first_publication_date":"2023-11-14T01:11:16+0000","last_publication_date":"2023-11-28T02:12:19+0000","uid":"circular-economy-how-to-measure-circularity","link_type":"Document","key":"93b5ac23-082b-4314-84d8-5790c2008082","isBroken":false}}],"primary":{"ctaLabel":"Read more","blurbWordLimit":20,"isDynamicContent":false},"id":"related_content_list$29fcefc5-081e-4c8e-84bd-95b67cf8d641","slice_type":"related_content_list","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"newsletterTitle":"Newsletter","newsletterDescription":[{"type":"paragraph","text":"Be first to get our ideas, invites and breakthroughs.
Join the list with your name and email.","spans":[]}],"signUpBtnLabel":"Sign Up","hideCareersSection":false,"careersTitle":"Careers at Edge","careersDescription":[{"type":"paragraph","text":"We have a number of exciting projects in the works and are rapidly expanding our team of consultants. Below are our latest job openings across our global offices. ","spans":[]}],"careersCTALink":{"link_type":"Web","key":"093b3a9b-0b45-4e85-a58a-53efea845980","url":"https://edge.teamtailor.com/"},"careersCTALabel":"Careers Page","image":{"dimensions":{"width":1920,"height":1350},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/8f57f643-bfb3-4d51-b7ad-7be2606fa9c5_Edge_Round-FA02_BG_Shot06.png?auto=compress,format","id":"ZOMZsxAAACIAw0Zd","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"successText":[{"type":"paragraph","text":"Thanks for signing up! ","spans":[]}]},"id":"newsletter_panel$d8298fce-a3b7-44b7-86a4-61b85610e840","slice_type":"newsletter_panel","slice_label":null}],"title":"Navigating Climate Governance: Board Members","date":"18 December 2023"},"link_type":"Document","key":"695c41d4-4c11-4377-9519-e1aa8c75ff44","isBroken":false}},{"contentItem":{"id":"ZQfbThIAACMAqMal","type":"article","tags":[],"lang":"en-au","slug":"tnfd-is-here-what-does-it-mean-for-your-business--how-to-get-started","first_publication_date":"2023-09-18T05:30:54+0000","last_publication_date":"2024-08-26T13:06:55+0000","uid":"tnfd-is-here","data":{"readingTime":"7 minutes.","uid":"tnfd-is-here","slices":[{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"article":{"link_type":"Document"},"title":[{"type":"heading1","text":"TNFD is here: What Does It Mean for Your Business & How to Get Started","spans":[],"direction":"ltr"}],"subtitle":[{"type":"paragraph","text":"Written by: Sarah Day, Principal Consultant, Nature & Biodiversity","spans":[],"direction":"ltr"}],"blurb":[{"type":"paragraph","text":"","spans":[]}],"image":{"dimensions":{"width":3637,"height":2046},"alt":"Smoke billowing from power plant towers alongside a lush field, underscoring the necessity for TNFD-guided environmental reporting.","copyright":null,"url":"https://images.prismic.io/edgeimpact/ZhiCwDjCgu4jzxS__wim-van-t-einde-RngTOSHC6ys-unsplash.jpg?auto=format,compress","id":"ZhiCwDjCgu4jzxS_","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"layoutType":"Aligned Bottom","blurbWordLimit":null,"ctaLabel":null},"id":"article_title$443bd272-8c2c-4ff5-83b6-deb173cbb714","slice_type":"article_title","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{"customTag":"NATURE POSITIVE"},{"customTag":"TNFD"},{"customTag":"SBTN"},{"customTag":"RISK MANAGEMENT"},{"customTag":"STRATEGY"}],"primary":{"showTags":false,"showShareLinks":false,"shareLabel":null},"id":"article_tags_and_share_links$d1416aee-4c9e-4183-ab7d-23fd1002dea3","slice_type":"article_tags_and_share_links","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[],"text":[{"type":"heading2","text":"Introduction to TNFD and Its Significance:","spans":[{"start":0,"end":42,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"With the recent release of the Taskforce on Nature Related Financial Disclosures (TNFD) framework, how does your business actually plan to have a positive impact on nature?","spans":[{"start":0,"end":172,"type":"em"}],"direction":"ltr"},{"type":"paragraph","text":"","spans":[],"direction":"ltr"},{"type":"paragraph","text":"We stand at a pivotal moment in history, where our actions can either perpetuate the degradation of our planet or pave the way towards a nature-positive future.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"There are ample opportunities for businesses to manage risks, engage in a sustainable way with nature, and achieve positive outcomes for nature, their organisations and society… and yet most companies, investors and lenders today inadequately account for nature-related risks and opportunities in their decision making.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"This is where the Taskforce on Nature Related Financial Disclosures (TNFD) comes in.","spans":[{"start":18,"end":67,"type":"hyperlink","data":{"link_type":"Web","url":"https://tnfd.global/","target":"_blank"}}],"direction":"ltr"},{"type":"paragraph","text":"","spans":[],"direction":"ltr"},{"type":"heading2","text":"Understanding the TNFD Framework:","spans":[{"start":0,"end":33,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"The TNFD framework is a risk management and disclosure framework for businesses to identify, assess, respond and, where appropriate, disclose their nature-related issues.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"It will encourage early action by any organisation (corporate, investor, government) to begin disclosing nature-related dependencies, impacts, risks and opportunities.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"The TNFD has been developed to highlight the interrelationship between nature and climate and provide a platform for integrated nature-related disclosures in the same way the Taskforce on Climate-related Financial Disclosures (TCFD) did for climate.","spans":[{"start":175,"end":225,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.fsb-tcfd.org/","target":"_blank"}}],"direction":"ltr"},{"type":"paragraph","text":"","spans":[],"direction":"ltr"},{"type":"heading3","text":"What is the difference between TNFD and TCFD?","spans":[],"direction":"ltr"},{"type":"paragraph","text":"While both the Taskforce on Nature Related Financial Disclosures (TNFD) and Taskforce on Climate-related Financial Disclosures (TCFD) are pivotal in guiding organisations toward more sustainable and transparent practices, they focus on different aspects of environmental impact.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"The TCFD, or Taskforce on Climate-related Financial Disclosures, primarily addresses how organisations should disclose climate-related financial risks and opportunities. In contrast, the TNFD extends this scope to encompass the broader environmental challenges, including biodiversity loss and ecosystem degradation.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"This broader perspective is crucial as it acknowledges the intricate connections between climate change and nature, emphasising the need for a holistic approach to sustainability.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"","spans":[],"direction":"ltr"},{"type":"heading3","text":"The Four Pillars of the TNFD Framework","spans":[],"direction":"ltr"},{"type":"paragraph","text":"The TNFD disclosure recommendations are structured around four pillars, consistent with the Task Force on Climate-related Financial Disclosures (TCFD) and the International Sustainability Standards Board (ISSB), to ensure a comprehensive and unified approach to environmental sustainability and financial disclosure.","spans":[{"start":159,"end":210,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.ifrs.org/groups/international-sustainability-standards-board/","target":"_blank"}}],"direction":"ltr"},{"type":"paragraph","text":"1. Governance","spans":[{"start":0,"end":13,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"Governance lies at the heart of the TNFD Framework, emphasising the critical roles of both board oversight and management in evaluating and addressing nature-related issues.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"This includes a comprehensive approach to managing the organisation's impact on nature, adhering to human rights policies, and actively engaging with indigenous peoples and other stakeholders in local communities affected by nature-related activities.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"2. Strategy","spans":[{"start":0,"end":11,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"The Strategy pillar demands organisations to thoroughly examine the nature-related challenges they face across different time horizons—short, medium, and long term. It involves understanding how these challenges impact the business model, value chain, financial planning, and overall strategy.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Moreover, it assesses the resilience of the organisation’s strategy against identified nature-related issues, ensuring a sustainable approach to navigating future uncertainties.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"3. Risk & Impact Management","spans":[{"start":0,"end":27,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"This pillar focuses on the processes for identifying and managing nature-related risks and impacts, not just within direct operations but also throughout the upstream and downstream value chains.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"It underscores the importance of integrating these processes into the organisation's overarching risk management framework, thereby ensuring a comprehensive approach to environmental stewardship and sustainability.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"4. Metrics & Targets","spans":[{"start":3,"end":20,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"Lastly, the TNFD Framework advocates for the adoption of specific metrics and targets to assess and manage material nature-related issues effectively.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"This involves setting clear, measurable goals for managing the organisation's impact on nature and tracking performance against these targets, facilitating transparent reporting and continuous improvement in environmental performance.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"By integrating nature into strategic and capital allocation decision making, the TNFD Framework seeks to guide organisations and financial institutions towards a more sustainable and nature-positive future.","spans":[],"direction":"ltr"}],"showTopBorder":false,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$a6567864-7b1d-4098-b9de-898cf5fbb091","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[],"primary":{"quoteText":[{"type":"paragraph","text":"Embracing these four pillars allows businesses to not only manage their environmental footprint more effectively but also to uncover new opportunities for growth and innovation in a rapidly evolving global landscape.","spans":[],"direction":"ltr"}],"quoteAuthor":[],"image":{"dimensions":{"width":3992,"height":2992},"alt":"Arial view of a multiple highways intersecting across a parkland and cityscape.","copyright":null,"url":"https://images.prismic.io/edgeimpact/ZhiGVTjCgu4jzxTs_denys-nevozhai-7nrsVjvALnA-unsplash.jpg?auto=format,compress","id":"ZhiGVTjCgu4jzxTs","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"imagePosition":"Right"},"id":"article_quote_and_image$f08e6211-a509-43c9-ad10-7c5c170e2fb2","slice_type":"article_quote_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[],"primary":{"title":[],"text":[{"type":"heading3","text":"Is the TNFD Mandatory?","spans":[],"direction":"ltr"},{"type":"paragraph","text":"The TNFD Framework, much like its predecessors the TCFD and ISSB standards, is on a trajectory to be woven into domestic regulatory frameworks across the globe. Various governments have already expressed their support for the TNFD, indicating plans to embed its principles within their national regulatory systems.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"A prime example of this emerging trend is the UK Government's Green Finance Strategy, unveiled in March 2023. This strategy reaffirms the UK's dedication to the TNFD's objectives and explores the integration of the TNFD framework into the UK's policy and legislative framework, aligning with Target 15 of the Global Biodiversity Framework.","spans":[{"start":46,"end":84,"type":"hyperlink","data":{"link_type":"Web","url":"https://assets.publishing.service.gov.uk/media/643583fb877741001368d815/mobilising-green-investment-2023-green-finance-strategy.pdf","target":"_blank"}}],"direction":"ltr"},{"type":"paragraph","text":"At the regional level, the European Union has made strides by incorporating elements of the TNFD guidance into its regulatory reporting mandate, specifically through the Corporate Sustainability Reporting Directive (CSRD).","spans":[{"start":170,"end":221,"type":"hyperlink","data":{"link_type":"Web","url":"https://finance.ec.europa.eu/capital-markets-union-and-financial-markets/company-reporting-and-auditing/company-reporting/corporate-sustainability-reporting_en","target":"_blank"}}],"direction":"ltr"},{"type":"paragraph","text":"This directive mandates that entities falling under its scope must align their corporate disclosures with the European Sustainability Reporting Standards (ESRS), incorporating the TNFD's LEAP approach into several key areas of materiality assessments, including pollution, water and marine resources, biodiversity and ecosystems, as well as resource use and the circular economy.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"While the formal inclusion of TNFD reporting requirements into mandatory regulatory regimes is still in the works, the TNFD itself has committed to monitoring voluntary adoption by the market. Starting in 2024, an annual status update report will be published to track the progress of TNFD's voluntary integration, setting the stage for its eventual mandatory adoption in regulatory practices worldwide.","spans":[],"direction":"ltr"},{"type":"heading3","text":"Advantages and Disadvantages of Adopting the TNFD","spans":[],"direction":"ltr"},{"type":"paragraph","text":"While the Taskforce on Nature-related Financial Disclosures (TNFD) is currently a voluntary framework, companies are encouraged to weigh both the potential benefits and challenges associated with its adoption.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Here’s a closer look at the advantages and disadvantages that come with embracing the TNFD principles.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Advantages","spans":[{"start":0,"end":10,"type":"strong"}],"direction":"ltr"},{"type":"o-list-item","text":"Attract Investors: In today's market, there's a growing appetite among investors for companies that proactively manage their environmental impact. TNFD disclosures can serve as a testament to a company's commitment to sustainability, potentially drawing in more investment by showcasing forward-thinking environmental stewardship.","spans":[],"direction":"ltr"},{"type":"o-list-item","text":"Reduce Risk: Embracing TNFD allows companies to identify, assess, and mitigate climate-related risks early on. This proactive approach can enhance financial stability and safeguard against the operational and supply chain disruptions often precipitated by environmental challenges.","spans":[{"start":209,"end":221,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/sep","target":"_blank"}}],"direction":"ltr"},{"type":"o-list-item","text":"Future-Proof Business: With environmental regulations becoming increasingly stringent, the future is likely to mandate nature-related disclosures across the board. Early adopters of the TNFD framework will find themselves ahead of regulatory trends, ensuring a smoother transition to compliance and fostering a resilient business model in the face of evolving environmental legislation.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Disadvantages","spans":[{"start":0,"end":13,"type":"strong"}],"direction":"ltr"},{"type":"o-list-item","text":"Costs: Integrating TNFD recommendations into corporate strategies involves initial investments in robust data collection, thorough analysis, and comprehensive reporting infrastructures. These upfront costs are a crucial consideration for companies contemplating TNFD adoption.","spans":[],"direction":"ltr"},{"type":"o-list-item","text":"Greenwashing Risk: There's a legitimate concern that companies might lean towards TNFD reporting as a means of enhancing their environmental image without committing to meaningful action on nature conservation. It is imperative that firms approach TNFD adoption with the intent of genuine implementation, beyond just ticking boxes for compliance or public relations benefits.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Adopting the TNFD framework presents a strategic decision for companies, balancing the allure of long-term sustainability and investor appeal against the realities of initial costs and the imperative for authentic engagement with environmental challenges.","spans":[],"direction":"ltr"}],"showTopBorder":false,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$114db12a-f5c6-485c-9bf8-2ea3a5c7c7ee","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"quoteText":[{"type":"paragraph","text":"As the business landscape evolves towards greater transparency and accountability in environmental impact, the TNFD offers a path for companies to not only align with emerging global standards but also to actively contribute to a more sustainable and resilient future.","spans":[],"direction":"ltr"}],"quoteAuthor":[],"image":{"dimensions":{"width":6000,"height":3836},"alt":"A dense and lush green forest with small clouds floating across.","copyright":null,"url":"https://images.prismic.io/edgeimpact/ZhiG1jjCgu4jzxTu_ricardo-arce-G_02WDdVfF0-unsplash.jpg?auto=format,compress","id":"ZhiG1jjCgu4jzxTu","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"imagePosition":"Right"},"id":"article_quote_and_image$abfe223a-c043-4b14-b69f-c9a730a8b096","slice_type":"article_quote_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[],"text":[{"type":"heading2","text":"The LEAP Framework: Guiding Organisations in Nature Disclosures","spans":[{"start":0,"end":63,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"As new driving frameworks roll out in this space, there is no one-size-fits-all solution for companies. To address nature in a meaningful way, companies should come up with a strategy informed by the framework(s) relevant to their context.","spans":[{"start":175,"end":212,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/esgandstrategy","target":"_blank"}}],"direction":"ltr"},{"type":"paragraph","text":"The TNFD leverages the LEAP (Locate, Evaluate, Assess, Prepare) framework to guide nature-disclosures, sitting within the same TCFD disclosure requirements for an organisation to identify the governance, strategy, risk management and metrics and targets it will undertake to address the identified risks.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"","spans":[],"direction":"ltr"},{"type":"image","url":"https://images.prismic.io/edgeimpact/eda3797d-78e3-4d88-a5ed-190b814c077b_Picture+1.png?auto=compress,format","alt":"A table outlining the LEAP (Locate, Evaluate, Assess, Prepare) framework and the engagement with affected stakeholders","copyright":null,"dimensions":{"width":3599,"height":1995},"id":"ZQfishIAAB4AqNGI","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},{"type":"paragraph","text":"However, the LEAP framework concludes at prepare (for reporting); preparation should not be an end point, but rather the beginning of a broader nature journey. It is simply not enough to prepare to respond and report: companies must actually do something about their impacts on nature.","spans":[],"direction":"ltr"},{"type":"image","url":"https://images.prismic.io/edgeimpact/a33f0b1e-380f-45d7-8133-8751e609ec7f_Picture+2.png?auto=compress,format","alt":"Target setting through TNFD and SBTN aligned across 8 common outputs, table outlining the TNFD LEAP. the 8 common outputs and the SBTN 5-step approach.","copyright":null,"dimensions":{"width":2142,"height":682},"id":"ZQfiqxIAAB4AqNF-","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}}],"showTopBorder":false,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$23f60c1a-8897-4f3b-8d04-d6b05ac965a9","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[{"type":"heading2","text":"","spans":[]}],"text":[{"type":"paragraph","text":"At this point the TNFD recommends companies use the Science-Based Targets for Nature (SBTN) guidance for setting a target for their nature impacts. Despite published guidance, the interaction between these two leading frameworks is not particularly simple.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"","spans":[],"direction":"ltr"},{"type":"heading3","text":"Challenges and Opportunities in Combining TNFD and SBTN","spans":[],"direction":"ltr"},{"type":"paragraph","text":"There are eight common outputs, and at a first glance the frameworks may appear interchangeable. In practice though, relying on TNFD’s LEAP process and tacking on SBTN at the end may detract from SBTN's role of identifying material impacts upfront and acting where impacts can be most realised. This approach risks minimising the depth of materiality within the supply chain that SBTN aims to uncover.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Conversely, working solely to set an SBTN could potentially minimise an organisation’s ability to discover and disclose meaningful data which could be of value to many organisations and influential beyond.","spans":[],"direction":"ltr"},{"type":"heading3","text":"Tailoring the Approach to Each Organisation's Unique Context","spans":[],"direction":"ltr"},{"type":"paragraph","text":"The interaction between these two frameworks, and the relevance of each, will be different for each company. A large retailer with less direct dependencies and risks on nature may be better suited to the more detailed supply chain assessment that SBTN endorses, before proceeding to using the data and analytical outputs generated to apply parts of the TNFD’s LEAP approach for a nature-related risk and opportunity assessment.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"However, in the same position, a smaller corporate with specific goods may benefit from reporting their nature-related dependencies, impacts, risks and opportunities, and using these disclosures to then create a nature strategy with informed science-based targets.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Whether an organisation should align with TNFD or SBTN (or both) is not as simple as an either/or decision; each organisation’s experience of the interaction between the frameworks will be unique.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Ultimately, it is not about starting with the end-point framework for disclosing impacts and targets, but about creating a strategy to understand and address your organisation’s relationship with nature.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Taking this approach, starting with an overarching plan for how your organisation will approach nature, provides your organisation with the space to plan to do this properly – avoiding risks of greenwashing, greenhushing or greenrushing.","spans":[{"start":194,"end":237,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/greenwashing-handbook","target":"_blank"}}],"direction":"ltr"}],"showTopBorder":false,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$cb886c08-28bf-4f80-9eb5-9d0bd892d335","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"quoteText":[{"type":"paragraph","text":"Whether an organisation should align with TNFD or SBTN (or both) is not as simple as an either/or decision; each organisation’s experience of the interaction between the frameworks will be unique","spans":[],"direction":"ltr"}],"quoteAuthor":[],"image":{"dimensions":{"width":7360,"height":4912},"alt":"A factory with employees taking performing tasks and adopting the TNFD framework within their organisation.","copyright":null,"url":"https://images.prismic.io/edgeimpact/ZhiHPjjCgu4jzxTy_remy-gieling-qqtE2yX7POI-unsplash.jpg?auto=format,compress","id":"ZhiHPjjCgu4jzxTy","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"imagePosition":"Right"},"id":"article_quote_and_image$f2c51bc3-edf7-4941-ba63-1c18ddb84349","slice_type":"article_quote_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[],"text":[{"type":"heading2","text":"Edge Impact's Role in Your Journey Towards Nature Positivity","spans":[],"direction":"ltr"},{"type":"paragraph","text":"At Edge Impact, we offer an understanding of both of these frameworks, and are working with companies to create a tailored, specific nature strategy.","spans":[{"start":3,"end":15,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/","target":"_blank"}}],"direction":"ltr"},{"type":"paragraph","text":"We acknowledge that every organisation’s impacts, dependencies, goals, and capacity are different, and the real impacts will come from positioning your organisation beyond being committed to addressing nature, but addressing nature in your unique context.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"We appreciate that when talking about nature in the context of avoiding the climate crisis, time is not on our side. But we’ve only got one chance to set this global mindset up to succeed, and if we want to ensure nature efforts are taken seriously, we need to make sure each organisation is doing what’s within their specific capacity to act.","spans":[],"direction":"ltr"},{"type":"heading2","text":"Our Services","spans":[],"direction":"ltr"},{"type":"paragraph","text":"As experts in the full spectrum of sustainability topics, we are here to guide you through the complexity. Our team includes specialists from across the globe; from strategists to economists, engineers to creatives. Since 2008, we have been helping businesses, organisations, industries and societies make transformation happen.\n\nOur areas of expertise are focussed around the following areas:\n\nLeadership and Transformation\nESG and Strategy\nCircular Economy and Lifecycle Thinking\nProcurement and Supply Chain\nBuilt Environment\nNature and Biodiversity\nBrand, Communications and Creative","spans":[{"start":395,"end":587,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/","target":"_blank"}}],"direction":"ltr"},{"type":"heading2","text":"Key Takeaway","spans":[],"direction":"ltr"},{"type":"paragraph","text":"As new driving frameworks roll out in this space, there is no one-size-fits-all solution for companies. To address nature in a meaningful way, companies should come up with a strategy informed by the framework(s) relevant to their context.","spans":[],"direction":"ltr"}],"showTopBorder":true,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$efff9775-edef-4bda-a90c-7930adc3ac08","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"text":[{"type":"paragraph","text":"Please get in touch and learn how we at Edge Impact can help your company implement these frameworks, and work together towards nature positive","spans":[{"start":7,"end":19,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/contact","target":"_blank"}}],"direction":"ltr"}],"bgColor":"Mineral","alignment":"Center","fontSize":"Small","fontWeight":"Heavy"},"id":"text_panel$6ed2f7eb-c8e1-45b9-aec1-fd18917e0997","slice_type":"text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{"customTag":null}],"primary":{"showTags":false,"showShareLinks":true,"shareLabel":"Share this"},"id":"article_tags_and_share_links$af0ffe53-0e99-4a58-9d7d-a087fa8c479a","slice_type":"article_tags_and_share_links","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[],"primary":{"ctaLabel":"Read more","blurbWordLimit":20,"isDynamicContent":false},"id":"related_content_list$29fcefc5-081e-4c8e-84bd-95b67cf8d641","slice_type":"related_content_list","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"newsletterTitle":"Newsletter","newsletterDescription":[{"type":"paragraph","text":"Be first to get our ideas, invites and breakthroughs.
Join the list with your name and email.","spans":[],"direction":"ltr"}],"signUpBtnLabel":"Sign Up","hideCareersSection":true,"careersTitle":null,"careersDescription":[],"careersCTALink":{"link_type":"Any"},"careersCTALabel":null,"image":{"dimensions":{"width":1920,"height":1350},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/e117ad8d-da0f-4285-a5d5-3331309066cf_Edge_Round-FA02_BG_Shot06.png?auto=compress,format","id":"ZDiQ3hAAACAAgq39","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"successText":[]},"id":"newsletter_panel$816e74e0-e33b-4338-aa87-9238de152721","slice_type":"newsletter_panel","slice_label":null}],"title":"TNFD is here: What Does It Mean for Your Business & How to Get Started","date":"12 Apr, 2024"},"link_type":"Document","key":"0a77f38a-598b-4ac3-bd64-3d2b77699379","isBroken":false}},{"contentItem":{"id":"ZUhXDhAAACMAxEob","type":"article","tags":[],"lang":"en-au","slug":"circular-procurement-opportunities-for-local-government","first_publication_date":"2023-11-06T07:08:02+0000","last_publication_date":"2023-11-24T01:05:08+0000","uid":"circular-procurement-for-local-government","data":{"readingTime":"7 min. read","uid":"circular-procurement-for-local-government","slices":[{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"article":{"link_type":"Document"},"title":[{"type":"heading1","text":"Circular Procurement Opportunities for Local Government ","spans":[]}],"subtitle":[{"type":"paragraph","text":"Written by","spans":[]},{"type":"paragraph","text":"Sebastian Salcedo Velasquez, Senior Consultant, Sustainable and Ethical Procurement","spans":[]},{"type":"paragraph","text":"Hannah Elias, Senior Consultant, Circular Economy and Lifecycle Thinking","spans":[]}],"blurb":[{"type":"paragraph","text":"","spans":[]}],"image":{"dimensions":{"width":3448,"height":3683},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/a10dc8ae-5c11-4ebb-b0ae-0ceff029b64e_matt-seymour-8X2siC3gSj4-unsplash.jpg?auto=compress,format","id":"ZUhWyhAAAF9rxEjn","edit":{"x":0,"y":0,"zoom":1,"background":"#fff"}},"layoutType":null,"blurbWordLimit":null,"ctaLabel":null},"id":"article_title$443bd272-8c2c-4ff5-83b6-deb173cbb714","slice_type":"article_title","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{"customTag":"Circular Economy"},{"customTag":"Sustainable Procurement"},{"customTag":"Life Cycle Assessment"},{"customTag":"Supply Chain"}],"primary":{"showTags":false,"showShareLinks":false,"shareLabel":null},"id":"article_tags_and_share_links$d1416aee-4c9e-4183-ab7d-23fd1002dea3","slice_type":"article_tags_and_share_links","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"text":[{"type":"paragraph","text":"In this article, discover what circular procurement is and how local governments can take sustainable action, embrace innovation, and unlock funding opportunities through circular practices.","spans":[]}],"bgColor":"None","alignment":"Center","fontSize":"Medium","fontWeight":null},"id":"text_panel$1eda21fa-d581-4bbc-9463-01375ed64f84","slice_type":"text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[{"type":"heading2","text":"","spans":[]}],"text":[{"type":"paragraph","text":"In the world of sustainability buzz words, circular procurement is fast emerging as one of the greatest tools councils have in their arsenal to create immediate and long-lasting sustainable impact.  ","spans":[]},{"type":"paragraph","text":"There is a common perception that the Commonwealth or private sector lead sustainability innovation initiatives; however, public procurement accounts for 15-20% of global GDP, with local governments in Australia managing and maintaining roads, cycleways, footpaths, parks, and other community assets conservatively valued at $457 billion.  ","spans":[{"start":154,"end":174,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.ellenmacarthurfoundation.org/circular-economy-procurement-framew","target":"_blank"}},{"start":325,"end":337,"type":"hyperlink","data":{"link_type":"Web","url":"https://treasury.gov.au/sites/default/files/2021-05/171663_australian_local_government_association.pdf","target":"_blank"}}]},{"type":"paragraph","text":"As circular procurement gains momentum, so do funding opportunities to promote circular outcomes and innovation with a focus on upstream impacts. For example, in recent years, funding rounds of up to $200,000 and $500,000 have been available in New South Wales, and Victoria.","spans":[{"start":245,"end":260,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.epa.nsw.gov.au/working-together/grants/councils/local-government-waste-solutions-fund","target":"_blank"}},{"start":266,"end":274,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.sustainability.vic.gov.au/grants-funding-and-investment/grants-and-funding/circular-economy-councils-fund","target":"_blank"}}]}],"showTopBorder":null,"showBottomBorder":null,"largeTextMode":null},"id":"article_text_panel$a6567864-7b1d-4098-b9de-898cf5fbb091","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"quoteText":[{"type":"paragraph","text":"Local governments play a critical role in shaping local circular economies, meeting state-based targets, and collaborating to solve waste issues for their communities.","spans":[]}],"quoteAuthor":[{"type":"paragraph","text":"","spans":[]}],"image":{"dimensions":{"width":1203,"height":801},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/eaa443e2-2884-41df-ad2f-253b3c5c7602_92aaa31c-05af-4787-8e33-d7a46d8198db.jpg?auto=compress,format","id":"ZUhdfRAAACYAxGap","edit":{"x":0,"y":0,"zoom":1,"background":"#fff"}},"imagePosition":null},"id":"article_quote_and_image$aebee067-dd18-42ee-a884-583f586776a7","slice_type":"article_quote_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[{"type":"heading2","text":"What is Circular Procurement?","spans":[]}],"text":[{"type":"paragraph","text":"Circular procurement is the act of considering and applying circular economy principles in the sourcing of products and services across their whole lifecycle. In practice, this means procuring products and services in a way that designs out waste and pollution, keeps products and materials in use, reduces carbon emissions, and regenerates our natural systems. ","spans":[]},{"type":"paragraph","text":"While buying recycled content is a common example and natural first step in the public sector, local governments can do so much more. Increasingly, councils are leveraging a wide range of tools to strategically incorporate, embed and execute circular procurement outcomes.","spans":[]}],"showTopBorder":true,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$efff9775-edef-4bda-a90c-7930adc3ac08","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"text":[{"type":"paragraph","text":"Learn more on how we can help your council or organisation achieve their circular procurement objectives.","spans":[]},{"type":"paragraph","text":"Contact Us Today","spans":[{"start":0,"end":16,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/contact"}}]}],"bgColor":"Mineral","alignment":"Center","fontSize":"Small","fontWeight":"Heavy"},"id":"text_panel$f01a1cd8-6304-469e-ab59-f72683e4e879","slice_type":"text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[{"type":"heading2","text":"How can local governments take action on circular procurement?","spans":[]}],"text":[{"type":"paragraph","text":"Edge Impact has found that local government demonstrates leadership in circular procurement through:  ","spans":[]},{"type":"list-item","text":"A policy-driven, top-down approach: with the creation of a circular procurement framework and/or policy,  ","spans":[{"start":0,"end":36,"type":"strong"}]},{"type":"list-item","text":"A tools-based, bottom-up approach: through the creation of tools, procedures and/or trials to support procurement teams with decision-making, or ","spans":[{"start":0,"end":34,"type":"strong"}]},{"type":"list-item","text":"A comprehensive approach: combining policy and tools to demonstrate both commitment and action.  ","spans":[{"start":0,"end":26,"type":"strong"}]},{"type":"paragraph","text":"There are a range of intervention points and levers available to local governments throughout the procurement lifecycle. ","spans":[]},{"type":"paragraph","text":"A policy-driven approach focuses on establishing foundations, whereas a tools-based approach solves the problem of a tailored, specific and measurable approach to enabling effective evaluation and analysis data capture for whole-of-life within the plan-source-manage supplier and product lifecycle. ","spans":[]},{"type":"paragraph","text":"The procurement phases are provided below, along with some example levers that can be utilised by councils with different maturity. ","spans":[]}],"showTopBorder":null,"showBottomBorder":null,"largeTextMode":null},"id":"article_text_panel$27f69c24-d823-4a1b-867e-6c88e6fc7fe7","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"quoteText":[{"type":"paragraph","text":"Innovation opportunities exist across all stages of the procurement lifecycle depending on the needs, systems, processes, and maturity of local government organisations.","spans":[]}],"quoteAuthor":[],"image":{"dimensions":{"width":1320,"height":879},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/4b6c95ad-69c4-4b72-b2b6-6bbbc812ff0e_circular+procurement+article+image+05.jpg?auto=compress,format","id":"ZUmJ-BAAACUAyd-m","edit":{"x":0,"y":0,"zoom":1,"background":"#fff"}},"imagePosition":"Right"},"id":"article_quote_and_image$9eaaa3d0-dfe8-4c87-b3ec-c0a1f34f5282","slice_type":"article_quote_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[{"type":"heading2","text":"Opportunities for innovation","spans":[]}],"text":[{"type":"paragraph","text":"Common catalysts for innovation in circular procurement are:  ","spans":[]},{"type":"list-item","text":"Ambitious procurement policies: to set objectives and provide guidance to align internal participants towards the council’s overarching sustainability objectives, ","spans":[{"start":0,"end":31,"type":"strong"}]},{"type":"list-item","text":"Decision-making tools: allow the opportunity to demonstrate innovation in line with each council’s individual needs. This makes life easier for sustainability and procurement professionals by embedding circular thinking in daily procurement; for example, through multi-criteria decision-making tools such as the Lifecycle Analysis Comparison Roads Tool that Edge Impact developed to support Lake Macquarie City Council’s Low Carbon Road Project,  ","spans":[{"start":0,"end":22,"type":"strong"},{"start":421,"end":445,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.lakemac.com.au/Our-Council/City-strategies-plans-and-reporting/Circular-Economy","target":"_blank"}}]},{"type":"list-item","text":"Supplier panels and roundtables: involving key stakeholders in the development of a circular economy ecosystem. This can leverage the knowledge and capability of suppliers to achieve circular outcomes in collaboration, and ","spans":[{"start":0,"end":33,"type":"strong"}]},{"type":"list-item","text":"Early contractor involvement: to generate and foster long-term relationships with suppliers, one of the key ingredients for the successful implementation of circular procurement.  \n","spans":[{"start":0,"end":29,"type":"strong"}]},{"type":"paragraph","text":"Edge Impact is a technical partner of the Australian Circular Economy (ACE) Hub’s metrics and procurement working groups and has an extensive track record in supporting councils in their sustainable procurement journeys. ","spans":[]},{"type":"paragraph","text":"","spans":[]},{"type":"paragraph","text":"We have developed circular procurement roadmaps, multi-criteria decision-making tools, contract clauses, and co-developed various circular procurement policies for clients including Hunter Joint Organisation, Eastern Alliance for Green House Action, Lake Macquarie, and the Southern Sydney Regional Organisation of Councils. ","spans":[]}],"showTopBorder":null,"showBottomBorder":null,"largeTextMode":null},"id":"article_text_panel$4902c548-f56b-4c03-97c1-2e5703727d1c","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"text":[{"type":"paragraph","text":"Want to find out more about our bespoke solutions and services? Contact Us Today.","spans":[{"start":64,"end":81,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/contact"}}]}],"bgColor":"Mineral","alignment":"Center","fontSize":"Small","fontWeight":"Heavy"},"id":"text_panel$6ed2f7eb-c8e1-45b9-aec1-fd18917e0997","slice_type":"text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{"customTag":null}],"primary":{"showTags":false,"showShareLinks":true,"shareLabel":"Share this"},"id":"article_tags_and_share_links$af0ffe53-0e99-4a58-9d7d-a087fa8c479a","slice_type":"article_tags_and_share_links","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{"contentItem":{"id":"ZP_EZRIAACEAleaf","type":"article","tags":[],"lang":"en-au","slug":"shortcut-your-scope-3-emissions-three-organisational-levers-you-can-start-using-today-to-address-supply-chain-emissions","first_publication_date":"2023-09-12T02:11:02+0000","last_publication_date":"2023-10-09T00:59:46+0000","uid":"shortcut-scope-three","link_type":"Document","key":"f78e1fde-f878-4b05-850a-d2935055cc1f","isBroken":false}},{"contentItem":{"id":"ZQfbThIAACMAqMal","type":"article","tags":[],"lang":"en-au","slug":"tnfd-is-here-what-does-it-mean-for-your-business--how-to-get-started","first_publication_date":"2023-09-18T05:30:54+0000","last_publication_date":"2024-08-26T13:06:55+0000","uid":"tnfd-is-here","link_type":"Document","key":"d0f01ab1-c0cb-410d-8b9a-b405c77f2752","isBroken":false}}],"primary":{"ctaLabel":"Read more","blurbWordLimit":20,"isDynamicContent":null},"id":"related_content_list$29fcefc5-081e-4c8e-84bd-95b67cf8d641","slice_type":"related_content_list","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"newsletterTitle":"Newsletter","newsletterDescription":[{"type":"paragraph","text":"Be first to get our ideas, invites and breakthroughs.
Join the list with your name and email.","spans":[]}],"signUpBtnLabel":"Sign Up","hideCareersSection":null,"careersTitle":"Careers at Edge","careersDescription":[{"type":"paragraph","text":"We have a number of exciting projects in the works and are rapidly expanding our team of consultants. Below are our latest job openings across our global offices. ","spans":[]}],"careersCTALink":{"link_type":"Web","key":"382e6391-acb6-4d25-b6b7-a563bd888b48","url":"https://edge.teamtailor.com/"},"careersCTALabel":"Careers Page","image":{"dimensions":{"width":1920,"height":1350},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/8f57f643-bfb3-4d51-b7ad-7be2606fa9c5_Edge_Round-FA02_BG_Shot06.png?auto=compress,format","id":"ZOMZsxAAACIAw0Zd","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"successText":[{"type":"paragraph","text":"Thanks for signing up! ","spans":[]}]},"id":"newsletter_panel$d8298fce-a3b7-44b7-86a4-61b85610e840","slice_type":"newsletter_panel","slice_label":null}],"title":"Circular Procurement Opportunities for Local Government","date":"6 November 2023"},"link_type":"Document","key":"fa7d113b-e506-49a0-9469-8b29e9215f02","isBroken":false}}],"primary":{"ctaLabel":"Read more","blurbWordLimit":20,"isDynamicContent":false},"id":"related_content_list$29fcefc5-081e-4c8e-84bd-95b67cf8d641","slice_type":"related_content_list","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"newsletterTitle":"Newsletter","newsletterDescription":[{"type":"paragraph","text":"Be first to get our ideas, invites and breakthroughs.
Join the list with your name and email.","spans":[]}],"signUpBtnLabel":"Sign Up","hideCareersSection":false,"careersTitle":"Careers at Edge","careersDescription":[{"type":"paragraph","text":"We have a number of exciting projects in the works and are rapidly expanding our team of consultants. Below are our latest job openings across our global offices. ","spans":[]}],"careersCTALink":{"link_type":"Web","key":"eaa5f476-944e-45f7-979f-80ce2ca7268f","url":"https://edge.teamtailor.com/"},"careersCTALabel":"Careers Page","image":{"dimensions":{"width":1920,"height":1350},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/8f57f643-bfb3-4d51-b7ad-7be2606fa9c5_Edge_Round-FA02_BG_Shot06.png?auto=compress,format","id":"ZOMZsxAAACIAw0Zd","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"successText":[{"type":"paragraph","text":"Thanks for signing up! ","spans":[]}]},"id":"newsletter_panel$d8298fce-a3b7-44b7-86a4-61b85610e840","slice_type":"newsletter_panel","slice_label":null}],"title":"Guiding Climate Action Through Informed Decision-Making","date":"16 January 2023"},"link_type":"Document","key":"b40c5f5c-caa0-45b9-88f4-e20af33edb25","isBroken":false}},{"articles":{"id":"ZWAdCxAAACUA_KB0","type":"article","tags":[],"lang":"en-au","slug":"your-product-carbon-footprint--to-label-or-not-to-label","first_publication_date":"2023-11-24T04:14:00+0000","last_publication_date":"2023-11-24T04:25:36+0000","uid":"carbon-footprint-label","data":{"readingTime":"5 min. read","uid":"carbon-footprint-label","slices":[{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"article":{"link_type":"Document"},"title":[{"type":"heading1","text":"Your Product Carbon Footprint – To Label or Not to Label?","spans":[]}],"subtitle":[{"type":"paragraph","text":"Written by Jonas Bengsston","spans":[]}],"blurb":[{"type":"paragraph","text":"","spans":[]}],"image":{"dimensions":{"width":2250,"height":4000},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/1a88b771-4342-430e-ab77-5ad03daa56f0_luca-j-YjwJTbe0jjE-unsplash.jpg?auto=compress,format","id":"ZWAkxxAAACcA_MNG","edit":{"x":0,"y":0,"zoom":1,"background":"#fff"}},"layoutType":null,"blurbWordLimit":null,"ctaLabel":null},"id":"article_title$443bd272-8c2c-4ff5-83b6-deb173cbb714","slice_type":"article_title","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{"customTag":"Ecolabelling"},{"customTag":"LCA"},{"customTag":"Life Cycle Assessment"},{"customTag":"Carbon Reduction"},{"customTag":"GBCA"},{"customTag":"EPD"},{"customTag":"Myth Buster"}],"primary":{"showTags":false,"showShareLinks":false,"shareLabel":null},"id":"article_tags_and_share_links$d1416aee-4c9e-4183-ab7d-23fd1002dea3","slice_type":"article_tags_and_share_links","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[{"type":"heading2","text":"The Global Rise of Carbon Labelling","spans":[]}],"text":[{"type":"paragraph","text":"“A Product Carbon Footprint describes the sum of greenhouse gas emissions accumulated during the full life cycle of a product in a specified application” (PCF Pilot Project Germany, 2009).  ","spans":[{"start":0,"end":189,"type":"em"},{"start":155,"end":186,"type":"hyperlink","data":{"link_type":"Web","url":"http://www.pcf-projekt.de/files/1241103260/lessons-learned_2009.pdf","target":"_blank"}}]},{"type":"paragraph","text":"Australia pioneered product carbon labels with the Greenhouse Friendly initiative in 2001 for companies wishing to offer carbon neutral products using carbon offsets. The National Carbon Offset Standard (NCOS) replaced the Greenhouse Friendly initiative in 2010. ","spans":[{"start":151,"end":165,"type":"hyperlink","data":{"link_type":"Web","url":"https://en.wikipedia.org/wiki/Carbon_offsets","target":"_blank"}},{"start":171,"end":202,"type":"hyperlink","data":{"link_type":"Web","url":"http://www.climatechange.gov.au/climate-change/carbon-neutral/national-carbon-offset-standard-ncos","target":"_blank"}}]},{"type":"paragraph","text":"Internationally, the most well known example is the Carbon Reduction Label launched by the UK Carbon Trust in 2007. ","spans":[{"start":91,"end":106,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.carbontrust.com/","target":"_blank"}}]},{"type":"paragraph","text":"The Carbon Reduction Label was introduced at a time when the Intergovernmental Panel on Climate Change (IPCC) had launched the daunting Fourth Assessment Report, Al Gore reached a global audience with An Inconvenient Truth and Europe was leading the way in carbon emission trading. In short, a massive amount of resources and effort were dedicated to stopping climate change, and carbon labelling was seen as a key instrument to reach and empower consumers to reduce their emissions of greenhouse gasses through responsible consumption. ","spans":[{"start":61,"end":102,"type":"hyperlink","data":{"link_type":"Web","url":"http://www.ipcc.ch/","target":"_blank"}},{"start":201,"end":222,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.imdb.com/title/tt0497116/","target":"_blank"}}]},{"type":"paragraph","text":"Britain’s biggest supermarket Tesco saw carbon labelling as an opportunity to drive change and to differentiate themselves as a green retailer. Tesco pledged to label all 70,000 of its products with their carbon footprints using the Carbon Reduction Label. Tesco has since stepped away form this commitment. ","spans":[{"start":296,"end":306,"type":"hyperlink","data":{"link_type":"Web","url":"http://www.thegrocer.co.uk/companies/supermarkets/tesco/frustrated-tesco-ditches-eco-labels/225502.article","target":"_blank"}}]},{"type":"paragraph","text":"Shortly after, Planet Ark and the UK Carbon Trust launched the Carbon Reduction Label in Australia as an alternative to the already established Greenhouse Friendly Scheme. The Carbon Reduction Label offered disclosure of embodied carbon, rather than certified carbon neutrality. In 2010, the retailer ALDI became the first company to join Planet Ark’s Carbon Reduction Label Program in Australia. ALDI’s everyday olive oil range became the first products in Australia to be certified by the Carbon Trust. ","spans":[{"start":63,"end":85,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.carbontrust.com/","target":"_blank"}}]},{"type":"paragraph","text":"After establishing in Australia, the Carbon Reduction Label spread to 19 countries, including China. ","spans":[]},{"type":"paragraph","text":"A number of specific national carbon labelling schemes have also emerged including the French trial of Environmental Product Declarations, the Swiss climatop label, the Swedish Seal Certification and the Japanese Carbon Footprint Program. These vary as to whether they report performance according to environmental indicators (French and Japanese initiatives) or relative to peers (Swiss and Swedish models). ","spans":[{"start":149,"end":157,"type":"hyperlink","data":{"link_type":"Web","url":"http://climatop.org/","target":"_blank"}},{"start":169,"end":195,"type":"hyperlink","data":{"link_type":"Web","url":"http://www.svensktsigill.se/","target":"_blank"}},{"start":204,"end":237,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.cfp-japan.jp/english/overview/index.html","target":"_blank"}}]},{"type":"paragraph","text":"These labelling schemes draw on international standards that include: ","spans":[]},{"type":"list-item","text":"PAS 2050: a Publicly Available Specification for the assessment of the life cycle greenhouse gas emissions of goods and services was first published in 2008 and then updated in 2011. ","spans":[{"start":0,"end":9,"type":"strong"}]},{"type":"list-item","text":"GHG Protocol: launched in 2011, product standard has been developed by the World Resources Institute and the World Business Council for Sustainable Development. ","spans":[{"start":0,"end":14,"type":"strong"},{"start":75,"end":100,"type":"hyperlink","data":{"link_type":"Web","url":"http://www.wri.org/","target":"_blank"}},{"start":109,"end":159,"type":"hyperlink","data":{"link_type":"Web","url":"http://www.wbcsd.org/","target":"_blank"}}]},{"type":"list-item","text":"ISO 14067: released in 2013 for carbon footprint of products. ","spans":[{"start":0,"end":11,"type":"strong"}]},{"type":"paragraph","text":"All three standards provide requirements and guidelines on the decisions to be made when conducting a carbon footprint study. These standards provide requirements on specific issues relevant for carbon footprints, including land-use change, carbon uptake, biogenic carbon emissions, soil carbon change, and green electricity. All three standards build on existing life cycle assessment (LCA) methods established through ISO 14040 and ISO 14044. ","spans":[]},{"type":"paragraph","text":"But this is when carbon footprinting starts to get confusing for most organisations. Which standard should be used? Where do they differ? Which one has the most traction in the market? Will I get a better result using one over another? It’s hardly useful to have three widely recognised international standards when we want globally consistent measurement and reporting of carbon footprints. ","spans":[{"start":0,"end":391,"type":"em"}]},{"type":"paragraph","text":"Too many labels cause confusion ","spans":[{"start":0,"end":32,"type":"strong"}]},{"type":"paragraph","text":"In Europe, market research has shown that consumers are confused by the stream of incomparable and diverse environmental information: according to a recent Eurobarometer, 48 % of European consumers are confused by the environmental information they receive. A company wishing to market its product in Europe faces a confusing range of methods and initiatives and might find it needs to apply several of them in order to prove the product’s green credentials in different countries. ","spans":[{"start":156,"end":169,"type":"hyperlink","data":{"link_type":"Web","url":"http://ec.europa.eu/environment/eussd/smgp/index.htm","target":"_blank"}}]},{"type":"paragraph","text":"In Australia alone there are two carbon labelling schemes (the Carbon Reduction Label and NCOS) along with a range of other certifications and broader ecolabels such as Good Environmental Choice Australia and Global Green Tag, and energy and water star ratings for white goods. ","spans":[{"start":169,"end":204,"type":"hyperlink","data":{"link_type":"Web","url":"http://www.geca.org.au/","target":"_blank"}},{"start":209,"end":225,"type":"hyperlink","data":{"link_type":"Web","url":"http://www.globalgreentag.com/","target":"_blank"}}]},{"type":"paragraph","text":"Should carbon be our sole focus? ","spans":[{"start":0,"end":33,"type":"strong"}]},{"type":"paragraph","text":"Carbon footprints and labelling play an important role in enabling consumer choice. However the result of single attribute claims is that a product may perform particularly well in one area, at the expense of other environmental or social impacts not measured and communicated. To understand these ‘trade-offs’, and to get a complete picture of environmental impact, a product must be analysed across its entire life cycle, and taking into account a broad range of relevant environmental issues. ","spans":[]},{"type":"paragraph","text":"It is a complex topic and widespread assumptions about environmental impacts can be overly simplistic and sometimes misleading from a scientific perspective. Few environmental decisions are one-dimensional and clear-cut. Trade-offs between a product’s attributes are today’s reality, and a low carbon footprint doesn’t always mean better for the environment. ","spans":[]},{"type":"paragraph","text":"Is Carbon Labelling the way to go in Australia? ","spans":[{"start":0,"end":48,"type":"strong"}]},{"type":"paragraph","text":"After a decade in the market, the Australian Greenhouse Friendly initiative is only used by a modest number of organisations to certify carbon neutrally of their products (or services as for QANTAS). The NCOS program boasts a little over 30 organisations which are in the Carbon Neutral Network. ","spans":[]},{"type":"paragraph","text":"The Carbon Reduction Label has also had limited uptake in Australia. There are currently three Australian Carbon Reduction Label Foundation Partners who have earned a label for one of their products – ALDI’s everyday olive oil, the Dyson Airblade Hand dryer range and the Mobius Marlborough Sauvignon Blanc a product of The New Zealand Wine Company. ","spans":[]},{"type":"paragraph","text":"At the same time, in the business to business arena, product carbon labelling has never really taken off. Leading rating tools such as the Green Building Council Australia’s Green Star and the Infrastructure Sustainability Council Australia’s IS Rating Tool, and Transport for NSW’s Sustainable Design Guidelines are using comprehensive ISO compliant Life Cycle Assessments, ecolabels and Environmental Product Declarations to distinguish and reward the use of green products and materials for construction. ","spans":[{"start":174,"end":184,"type":"hyperlink","data":{"link_type":"Web","url":"https://new.gbca.org.au/green-star/rating-system/","target":"_blank"}},{"start":193,"end":242,"type":"hyperlink","data":{"link_type":"Web","url":"http://isca.org.au/","target":"_blank"}},{"start":263,"end":312,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.transport.nsw.gov.au/industry/doing-business-transport/sustainability-at-transport","target":"_blank"}}]},{"type":"paragraph","text":"Where to from here? ","spans":[{"start":0,"end":20,"type":"strong"}]},{"type":"paragraph","text":"The current green market reflects the convenience of using simple concepts, single issues such as carbon labels, rules of thumb and measures to help us reduce our impact on the environment. This is reasonable since we cannot be expected to continuously research and weigh up all implications of our purchasing decisions. But, we need to challenge the use of narrow single attribute product labelling to avoid good intentions having perverse outcomes on the environment. ","spans":[]},{"type":"paragraph","text":"In day-to-day purchasing decisions, we don’t have time to read scientific reports or evaluate multiple indicator labels. The full complexity of environmental impacts must be captured in the label. ISO compliant ecolabels, Environmental Product Declarations and Life Cycle Assessment are in place to deliver best practice and direction. When used appropriately: ","spans":[]},{"type":"list-item","text":"Ecolabels are primarily for consumers making day-to-day purchasing decisions ","spans":[]},{"type":"list-item","text":"Environmental Product Declarations are for business to business communication ","spans":[]},{"type":"list-item","text":"Life Cycle Assessments are for internal product development, strategy and green marketing campaigns (as well as providing the scientific basis for ecolabels and EPDs). ","spans":[]},{"type":"paragraph","text":"And while we’re at it, we also need a harmonised approach. Let’s rid ourselves of multiple standards, labels and schemes all trying to do the same thing. ","spans":[]},{"type":"paragraph","text":"We need more holistic labelling, but with less labels. ","spans":[]},{"type":"paragraph","text":"If we get it right, we will all feel assured to spend our money on products with labels we recognise and trust, to deliver real change. At the end of the day, the hope is that our collective purchasing power will incentivise companies to meet these higher standards and help bring us back to a sustainable economy. ","spans":[]}],"showTopBorder":true,"showBottomBorder":true,"largeTextMode":null},"id":"article_text_panel$a6567864-7b1d-4098-b9de-898cf5fbb091","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{"customTag":null}],"primary":{"showTags":false,"showShareLinks":true,"shareLabel":"Share this"},"id":"article_tags_and_share_links$af0ffe53-0e99-4a58-9d7d-a087fa8c479a","slice_type":"article_tags_and_share_links","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[],"primary":{"ctaLabel":"Read more","blurbWordLimit":20,"isDynamicContent":true},"id":"related_content_list$29fcefc5-081e-4c8e-84bd-95b67cf8d641","slice_type":"related_content_list","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"newsletterTitle":"Newsletter","newsletterDescription":[{"type":"paragraph","text":"Be first to get our ideas, invites and breakthroughs.
Join the list with your name and email.","spans":[]}],"signUpBtnLabel":"Sign Up","hideCareersSection":null,"careersTitle":"Careers at Edge","careersDescription":[{"type":"paragraph","text":"We have a number of exciting projects in the works and are rapidly expanding our team of consultants. Below are our latest job openings across our global offices. ","spans":[]}],"careersCTALink":{"link_type":"Web","key":"207d1b97-d1ba-4377-bb1e-d905b08f9809","url":"https://edge.teamtailor.com/"},"careersCTALabel":"Careers Page","image":{"dimensions":{"width":1920,"height":1350},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/8f57f643-bfb3-4d51-b7ad-7be2606fa9c5_Edge_Round-FA02_BG_Shot06.png?auto=compress,format","id":"ZOMZsxAAACIAw0Zd","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"successText":[{"type":"paragraph","text":"Thanks for signing up! ","spans":[]}]},"id":"newsletter_panel$d8298fce-a3b7-44b7-86a4-61b85610e840","slice_type":"newsletter_panel","slice_label":null}],"title":"Your Product Carbon Footprint – To Label or Not to Label?","date":"16 April 2014"},"link_type":"Document","key":"8bba48d6-42bd-4859-8de7-f9819e933e95","isBroken":false}},{"articles":{"id":"Y6EIkBEAACMAcCHm","type":"article","tags":[],"lang":"en-au","slug":"-","first_publication_date":"2022-12-20T01:04:49+0000","last_publication_date":"2024-04-12T00:26:42+0000","uid":"circular-procurement","data":{"readingTime":"7 min. read","uid":"circular-procurement","slices":[{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"article":{"link_type":"Document"},"title":[{"type":"heading1","text":"Why is circular procurement a hot topic right now?","spans":[]}],"subtitle":[{"type":"paragraph","text":"Written by\nNicole Thompson, Principal, Sustainable and Ethical Procurement,\nJess Braun, Senior Consultant, Circular Economy and\nHannah Elias, Consultant, Circular Economy","spans":[]}],"blurb":[{"type":"paragraph","text":"","spans":[]}],"image":{"dimensions":{"width":924,"height":890},"alt":"Aerial view of a delivery truck on the highway, representing efficient logistics in circular procurement, reducing carbon footprint.","copyright":null,"url":"https://images.prismic.io/edgeimpact/d0a3dd87-2407-4d31-a166-156919978cdd_Insights_CircularProcurement-1.jpg?auto=compress,format","id":"Y6EJOxEAACAAcCL1","edit":{"x":0,"y":0,"zoom":1,"background":"#fff"}},"layoutType":"Aligned Bottom","blurbWordLimit":null,"ctaLabel":null},"id":"article_title$443bd272-8c2c-4ff5-83b6-deb173cbb714","slice_type":"article_title","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{"customTag":"Circular Economy"},{"customTag":"Sustainable Procurement"},{"customTag":"Life Cycle Assessment"},{"customTag":"Supply Chain"}],"primary":{"showTags":false,"showShareLinks":false,"shareLabel":null},"id":"article_tags_and_share_links$d1416aee-4c9e-4183-ab7d-23fd1002dea3","slice_type":"article_tags_and_share_links","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[],"text":[{"type":"paragraph","text":"Procurement has been recognised as a key enabler of a circular economy, through increasing demand for circular products, materials, and services, and stimulating supply chain innovation and collaboration. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"So, it is unsurprising to see “circular procurement” popping up in discussions, strategies, and initiatives across the country in the public and private sectors. Increasingly, our clients have been asking what the term means, how it complements sustainable procurement, and how to put it into practice. Here’s our high-level summary.","spans":[],"direction":"ltr"},{"type":"heading2","text":"What is circular procurement? ","spans":[{"start":0,"end":29,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"","spans":[],"direction":"ltr"},{"type":"paragraph","text":"In simple terms, circular procurement is the strategic purchasing of products or services that align with the principles of a circular economy which include designing out waste, increased productivity gained from materials through keeping them at their highest value for as long as possible, and regenerating natural systems.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Five preeminent circular business models provide suggestions for ‘how’ to be more productive with resources and reduce whole of life impact, including: using circular instead of virgin inputs, sharing platforms, product-as-a-service models, extending the use of products, and extracting value from products at their end-of-use phase.","spans":[{"start":0,"end":40,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.weforum.org/agenda/2022/01/5-circular-economy-business-models-competitive-advantage/","target":"_blank"}}],"direction":"ltr"},{"type":"paragraph","text":"Some of these circular business models involve non-traditional ways of producing and consuming products or services. To enable these ‘circular goods or services’ to gain traction in the market, circular procurement involves a recalibration of procurement processes, policies, and tools to assess and recognise the benefits of circular products and services over the whole lifecycle.","spans":[{"start":226,"end":382,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"This is an evolution from traditional procurement which focuses on upfront costs and benefits.","spans":[{"start":0,"end":94,"type":"strong"}],"direction":"ltr"},{"type":"heading3","text":"Examples of circular procurement models","spans":[{"start":0,"end":39,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Some examples of products that are designed for minimal impact and value creation across the whole lifecycle include: ","spans":[],"direction":"ltr"},{"type":"list-item","text":"Products with longer lifespans through improved durability or flexibility so that they can be repurposed to meet changing user requirements. ","spans":[],"direction":"ltr"},{"type":"list-item","text":"Products that are easier to refurbish, repair or remanufacture at their end-of-life, including management through a product stewardship scheme. ","spans":[],"direction":"ltr"},{"type":"list-item","text":"Products that use low embodied carbon and safe (non-toxic) materials, such as recycled or rapidly renewable materials, locally sourced materials, and products that are manufactured using renewable energy sources. ","spans":[],"direction":"ltr"},{"type":"list-item","text":"Products consumed through product-as-a-service, leasing, or sharing models that reduce the overall quantity of material required to meet a functional need across multiple consumers.","spans":[],"direction":"ltr"}],"showTopBorder":false,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$a6567864-7b1d-4098-b9de-898cf5fbb091","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"quoteText":[{"type":"paragraph","text":"To enable ‘circular products or services’ to gain traction in the market, circular procurement involves a recalibration of procurement processes, policies, and tools to assess and recognise the benefits of circular products and services over the whole lifecycle.","spans":[]}],"quoteAuthor":[{"type":"paragraph","text":"","spans":[]}],"image":{"dimensions":{"width":924,"height":466},"alt":"Warehouse interior with shelves stocked methodically, showcasing organised inventory management as part of a circular procurement system.","copyright":null,"url":"https://images.prismic.io/edgeimpact/c59cf94d-077f-48c6-bbad-0e71941de0b9_Insights_CircularProcurement-2.jpg?auto=compress,format","id":"Y6EJkREAACEAcCNx","edit":{"x":0,"y":0,"zoom":1,"background":"#fff"}},"imagePosition":"Right"},"id":"article_quote_and_image$aebee067-dd18-42ee-a884-583f586776a7","slice_type":"article_quote_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[{"type":"heading2","text":"","spans":[]}],"text":[{"type":"heading3","text":"What are the benefits of circular procurement? ","spans":[{"start":0,"end":46,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Our clients have incorporated a circular approach to their procurement reviews for the following key reasons: ","spans":[],"direction":"ltr"},{"type":"list-item","text":"To reduce the more complex Scope 3 emissions (comparatively speaking compared to Scope 1 and 2), particularly Category 1 on purchased goods and services, Category 5 on waste generated in operations, Category 11 on use of sold products, and Category 12 on end-of-life treatment of sold products.  ","spans":[],"direction":"ltr"},{"type":"list-item","text":"Reduce costs and save resources when assessed across the lifecycle. ","spans":[],"direction":"ltr"},{"type":"list-item","text":"Demonstrate market leadership and innovation, providing reputational advantages. ","spans":[],"direction":"ltr"},{"type":"list-item","text":"Strengthen supplier relationships. ","spans":[],"direction":"ltr"},{"type":"list-item","text":"Boost local economies and support job creation. ","spans":[],"direction":"ltr"},{"type":"list-item","text":"Improve supply chain resilience and reduce exposure to supply market shocks.","spans":[],"direction":"ltr"}],"showTopBorder":true,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$efff9775-edef-4bda-a90c-7930adc3ac08","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"quoteText":[{"type":"paragraph","text":"Circular procurement involves engaging and collaborating across the value chain to align on common goals and empower all players to do their part in making the whole system run.","spans":[]}],"quoteAuthor":[],"image":{"dimensions":{"width":3853,"height":2584},"alt":"Two farmers discussing sustainable agricultural practices in a wheat field, exemplifying the integration of circular procurement in farming operations.","copyright":null,"url":"https://images.prismic.io/edgeimpact/7665b44c-bf9e-40c6-8578-9c1fe505b046_Business+partners+on+wheat+field.jpg?auto=compress,format","id":"ZP_FXxIAACEAlesZ","edit":{"x":0,"y":0,"zoom":1,"background":"#fff"}},"imagePosition":"Right"},"id":"article_quote_and_image$9eaaa3d0-dfe8-4c87-b3ec-c0a1f34f5282","slice_type":"article_quote_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[],"text":[{"type":"heading3","text":"How can you get started with circular procurement?","spans":[{"start":0,"end":50,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"","spans":[],"direction":"ltr"},{"type":"paragraph","text":"We have observed that organisations tend to lead with one of the following:","spans":[],"direction":"ltr"},{"type":"list-item","text":"A policy-driven, top-down approach with the creation of a circular procurement framework and/or policy, ","spans":[{"start":17,"end":34,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/leadershipandtransformation","target":"_blank"}}],"direction":"ltr"},{"type":"list-item","text":"A tools-based, bottom-up approach through the creation of tools, procedures and/or trials to support procurement teams with decision-making, or ","spans":[],"direction":"ltr"},{"type":"list-item","text":"A comprehensive approach combining policy and tools to demonstrate both commitment and action. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"","spans":[],"direction":"ltr"},{"type":"paragraph","text":"A tools-based approach can be utilised in the absence of commitment from senior leadership, as well as by organisations further along their journey. In practice, this could look like:","spans":[{"start":73,"end":90,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/leadershipandtransformation","target":"_blank"}}],"direction":"ltr"},{"type":"o-list-item","text":"Make sure that the basics of sustainable procurement are in place within your organisation: ","spans":[{"start":0,"end":91,"type":"strong"}],"direction":"ltr"},{"type":"o-list-item","text":"review your systems and processes against ISO20400 and address any gaps (we appreciate that this may not be a trivial task!).  ","spans":[],"direction":"ltr"},{"type":"o-list-item","text":"Understand the circular hotspots and opportunities in your supply chain:","spans":[{"start":0,"end":72,"type":"strong"}],"direction":"ltr"},{"type":"o-list-item","text":" where are the biggest impacts across the lifecycles of the products and services that you buy, and which of them can be most easily addressed. ","spans":[],"direction":"ltr"},{"type":"o-list-item","text":"It’s worth noting that those two things may not line up – for example steel and concrete are both big impact materials in construction, but it’s often easier to find a high-value reuse or recycling opportunity for the former than for the latter. ","spans":[],"direction":"ltr"},{"type":"o-list-item","text":"Create category management plans for those categories of supply that can make the biggest contribution to your circular procurement journey. ","spans":[{"start":0,"end":140,"type":"strong"}],"direction":"ltr"},{"type":"o-list-item","text":"This is a key point at which external engagement comes in: you’ll need to work with suppliers, customers, and wider stakeholders to understand what’s available, what’s possible both now and in the likely future, and what barriers and opportunities exist. ","spans":[],"direction":"ltr"},{"type":"o-list-item","text":"Open dialogue and clear expectations will help to drive upstream product innovation and encourage the sustainable development of downstream reuse, repair, remanufacturing, and recycling business models. \n","spans":[],"direction":"ltr"},{"type":"heading2","text":"How does circular procurement differ from sustainable procurement? ","spans":[{"start":0,"end":66,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Sustainable and circular procurement both aim towards the same overarching goals – enabling value driven solutions with lower social and environmental impact. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Circular procurement goes beyond this to encourage a rethink on how to meet the functional need at hand with the most productive use of resources and the lowest negative impact. With the same overarching goals in mind, many of the tools and approaches that are used in sustainable procurement can also be used for circular procurement.  ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Further, circular procurement elevates an important aspect: engaging and collaborating across value chain to align on common goals and empower players to do their part in making the whole system run. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Procurement teams not only need to work with suppliers, but also need to think about how customers or internal stakeholders will use the products and services that they purchase, and the wider system in which they’re operating. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"For example, purchasing components made of recyclable materials isn’t circular if there is no realistic prospect of recycling facilities in key customer locations. ","spans":[],"direction":"ltr"}],"showTopBorder":false,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$27f69c24-d823-4a1b-867e-6c88e6fc7fe7","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[],"primary":{"quoteText":[{"type":"paragraph","text":"Circular procurement elevates an important aspect: engaging and collaborating across value chain to align on common goals and empower players to do their part in making the whole system run. ","spans":[],"direction":"ltr"}],"quoteAuthor":[],"image":{"dimensions":{"width":5654,"height":3769},"alt":"Two construction works harnessed to the side of a building working on a construction site.","copyright":null,"url":"https://images.prismic.io/edgeimpact/Zhh_XTjCgu4jzxSs_AdobeStock_480735484.jpeg?auto=format,compress","id":"Zhh_XTjCgu4jzxSs","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"imagePosition":"Right"},"id":"article_quote_and_image$74b735e8-d350-4f26-8c41-15faa4f3e898","slice_type":"article_quote_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[],"primary":{"title":[],"text":[{"type":"heading2","text":"Sound daunting?","spans":[{"start":0,"end":15,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"","spans":[],"direction":"ltr"},{"type":"paragraph","text":"While circular procurement brings many benefits related to ESG action and risk reduction, it also requires incremental change to address challenges with reimagining complex systems and processes. ","spans":[{"start":59,"end":69,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/esgandstrategy","target":"_blank"}}],"direction":"ltr"},{"type":"paragraph","text":"It’s no different to many other sustainability challenges in that respect: whether it’s achieving net-zero emissions or eliminating modern slavery.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"If, over the coming years, your procurement practices can support (more) circular outcomes in just a few key categories, you’ll be taking a big step forward – especially when we think about the cumulative impacts of those changes across multiple companies and organisations. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"The important thing is to make a start and to help create a virtuous circle of innovation and collaboration: the more of us working on circular procurement, the easier – and more normal – it will become.","spans":[],"direction":"ltr"},{"type":"heading2","text":"How Edge Impact can help","spans":[{"start":0,"end":24,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"","spans":[],"direction":"ltr"},{"type":"paragraph","text":"As experts in the full spectrum of sustainability topics, we are here to guide you through the complexity. Our team includes specialists from across the globe; from strategists to economists, engineers to creatives. Since 2008, we have been helping businesses, organisations, industries and societies make transformation happen.\n\nOur areas of expertise are focussed around the following areas:\n\nLeadership and Transformation\nESG and Strategy\nCircular Economy and Lifecycle Thinking\nProcurement and Supply Chain\nBuilt Environment\nNature and Biodiversity\nBrand, Communications and Creative","spans":[{"start":395,"end":424,"type":"hyperlink","data":{"id":"ZNMXnhAAACkAkTVm","type":"broken_type","tags":[],"lang":null,"slug":"-","first_publication_date":null,"last_publication_date":null,"link_type":"Document","isBroken":true}},{"start":425,"end":441,"type":"hyperlink","data":{"id":"ZNnBPRAAACkArkJH","type":"broken_type","tags":[],"lang":null,"slug":"-","first_publication_date":null,"last_publication_date":null,"link_type":"Document","isBroken":true}},{"start":442,"end":481,"type":"hyperlink","data":{"id":"ZOLYUBAAACMAwh5N","type":"broken_type","tags":[],"lang":null,"slug":"-","first_publication_date":null,"last_publication_date":null,"link_type":"Document","isBroken":true}},{"start":482,"end":510,"type":"hyperlink","data":{"id":"ZOLTMxAAACAAwgZZ","type":"broken_type","tags":[],"lang":null,"slug":"-","first_publication_date":null,"last_publication_date":null,"link_type":"Document","isBroken":true}},{"start":511,"end":528,"type":"hyperlink","data":{"id":"ZOLZjxAAACIAwiPn","type":"broken_type","tags":[],"lang":null,"slug":"-","first_publication_date":null,"last_publication_date":null,"link_type":"Document","isBroken":true}},{"start":529,"end":552,"type":"hyperlink","data":{"id":"ZOLa2RAAACMAwim9","type":"broken_type","tags":[],"lang":null,"slug":"-","first_publication_date":null,"last_publication_date":null,"link_type":"Document","isBroken":true}},{"start":553,"end":587,"type":"hyperlink","data":{"id":"ZOLbfRAAACMAwiyw","type":"broken_type","tags":[],"lang":null,"slug":"-","first_publication_date":null,"last_publication_date":null,"link_type":"Document","isBroken":true}}],"direction":"ltr"}],"showTopBorder":false,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$73fc7758-c4f2-4d4f-87d5-3ac9adafe2aa","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"text":[{"type":"paragraph","text":"Please get in touch and learn how we at Edge Impact can help embed circular procurement practices in your business.","spans":[{"start":7,"end":19,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/contact","target":"_blank"}}],"direction":"ltr"}],"bgColor":"Mineral","alignment":"Center","fontSize":"Small","fontWeight":"Heavy"},"id":"text_panel$6ed2f7eb-c8e1-45b9-aec1-fd18917e0997","slice_type":"text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{"customTag":null}],"primary":{"showTags":false,"showShareLinks":true,"shareLabel":"Share this"},"id":"article_tags_and_share_links$af0ffe53-0e99-4a58-9d7d-a087fa8c479a","slice_type":"article_tags_and_share_links","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{"contentItem":{"id":"ZP_EZRIAACEAleaf","type":"article","tags":[],"lang":"en-au","slug":"shortcut-your-scope-3-emissions-three-organisational-levers-you-can-start-using-today-to-address-supply-chain-emissions","first_publication_date":"2023-09-12T02:11:02+0000","last_publication_date":"2023-10-09T00:59:46+0000","uid":"shortcut-scope-three","data":{"readingTime":"7 minutes","uid":"shortcut-scope-three","slices":[{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"article":{"link_type":"Document"},"title":[{"type":"heading1","text":"Shortcut your scope 3 emissions: Three organisational levers you can start using today to address supply chain emissions","spans":[]}],"subtitle":[{"type":"paragraph","text":"Written by: Nicole Thompson, Principal Consultant, Sustainable and Ethical Procurement","spans":[]}],"blurb":[{"type":"paragraph","text":"","spans":[]}],"image":{"dimensions":{"width":8688,"height":5792},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/2950f9be-8370-4850-809d-ca691c45dd49_artificial-photography-vB5qtt8X4NA-unsplash.jpg?auto=compress,format","id":"ZQfSJBIAAB4AqLmA","edit":{"x":0,"y":0,"zoom":1,"background":"#fff"}},"layoutType":null,"blurbWordLimit":null,"ctaLabel":null},"id":"article_title$443bd272-8c2c-4ff5-83b6-deb173cbb714","slice_type":"article_title","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{"customTag":"Scope 3"},{"customTag":"Supply chain"},{"customTag":"Emissions reduction"},{"customTag":"Procurement"}],"primary":{"showTags":false,"showShareLinks":false,"shareLabel":null},"id":"article_tags_and_share_links$d1416aee-4c9e-4183-ab7d-23fd1002dea3","slice_type":"article_tags_and_share_links","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[{"type":"heading2","text":"","spans":[]}],"text":[{"type":"paragraph","text":"The upcoming disclosure standards from the International Sustainability Standards Board, coupled with regulations such as the SEC's Climate-Related Disclosure regulation, will necessitate that companies report their scope 3 emissions. This requirement is a significant step towards enhancing transparency and accountability for the environmental impacts within their supply chains.","spans":[]},{"type":"paragraph","text":"While the majority of organisations that produce annual sustainability or ESG reports have mostly got across Scope 1 and Scope 2 emission calculations, reporting Scope 3 emissions on the other hand introduces a dual challenge: the acquisition of improved supply chain data and the enhancement of supplier emissions performance. Although this challenge might initially seem daunting, there exist three straightforward steps that any organisation can undertake.","spans":[]}],"showTopBorder":null,"showBottomBorder":null,"largeTextMode":null},"id":"article_text_panel$a6567864-7b1d-4098-b9de-898cf5fbb091","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[{"type":"heading2","text":"Three tips for tackling supply chain emissions","spans":[]}],"text":[{"type":"paragraph","text":"1. Communicate upfront to all suppliers that they will be evaluated on their emissions reduction activity","spans":[{"start":0,"end":105,"type":"strong"}]},{"type":"paragraph","text":"Include requirements for emissions reduction and weighted evaluation criteria in pre-qualification or tender specifications. Use core (minimum) requirements in your request for quotations or tenders so that supplier performance on emissions reduction commitments can be compared. A requirement might look like:","spans":[]},{"type":"list-item","text":"Demonstrate that you are measuring your Scope 1 & 2 emissions and have a target and plan in place to reduce those emissions.","spans":[]},{"type":"list-item","text":"Do you have a Science-Based Target?","spans":[]},{"type":"list-item","text":"Do you publicly report on decarbonisation initiatives?","spans":[]},{"type":"paragraph","text":"Signal that those suppliers that are taking action on emission reduction will be preferred, by weighting evaluation in their favour.","spans":[]},{"type":"paragraph","text":"Be sure to communicate any expectations upfront and as early as possible in market testing and supplier engagement.","spans":[{"start":0,"end":115,"type":"em"}]},{"type":"paragraph","text":"Use minimum requirements and stretch or desired emissions reduction criteria to set the bar– tell suppliers where you want to go and let them pave the way to get there.\n\n2. Consistently ask for emissions data and embed decarbonisation questions in standard go-to-market activities","spans":[{"start":170,"end":280,"type":"strong"}]},{"type":"paragraph","text":"Request data during supplier selection. Set clear boundaries on the data you need to inform your baseline. Data requested should be meaningful and manageable making it simple for your suppliers, increasing success of receiving the information and making it easier for you analyse and use. A simple short list may look like this:","spans":[]},{"type":"list-item","text":"Total annual organisational Scope 1 and 2 emissions","spans":[]},{"type":"list-item","text":"Total annual organisational Scope 3 emissions by category","spans":[]},{"type":"list-item","text":"Product or service emissions footprint","spans":[]},{"type":"list-item","text":"Bonus: information includes all of the above by intensity and any methodologies","spans":[]},{"type":"paragraph","text":"Include this in your next EOI, RFQ, RFT. Embed emissions reduction into category planning and supplier selection.","spans":[]}],"showTopBorder":null,"showBottomBorder":null,"largeTextMode":null},"id":"article_text_panel$cb886c08-28bf-4f80-9eb5-9d0bd892d335","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"quoteText":[{"type":"paragraph","text":"Be open and transparent to suppliers, that you are both at the early stages of understanding supply chain emissions, that there will not be penalties for lack of data, and that you value progress over perfection.","spans":[]}],"quoteAuthor":[],"image":{"dimensions":{"width":3853,"height":2584},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/7665b44c-bf9e-40c6-8578-9c1fe505b046_Business+partners+on+wheat+field.jpg?auto=compress,format","id":"ZP_FXxIAACEAlesZ","edit":{"x":0,"y":0,"zoom":1,"background":"#fff"}},"imagePosition":null},"id":"article_quote_and_image$0ea4bb49-1b61-43aa-9b87-e5cd4e01e979","slice_type":"article_quote_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[{"type":"heading2","text":"","spans":[]}],"text":[{"type":"paragraph","text":"3. Incentivise emissions reduction by embedding expectations into supplier contracts","spans":[{"start":0,"end":84,"type":"strong"}]},{"type":"paragraph","text":"Clearly define emission-related contract requirements (such as providing annual data as listed above) and KPIs and ensure that suppliers understand and agree to them. Consider including clauses or performance scorecards that promote and reward emission reporting, disclosure and continuous improvement. This integration sends a clear signal that emission reduction is a priority for you.","spans":[]},{"type":"paragraph","text":"Incentives may be look like recognition, preferential business such as longer contracts, more work or beneficial payment terms or pay for performance agreements.","spans":[]},{"type":"paragraph","text":"Remember that the requirements, incentives, and the level of support provided to suppliers will be dependent on supplier size.","spans":[{"start":0,"end":126,"type":"em"}]},{"type":"paragraph","text":"While a suite of standard requirements for emission reductions can be developed, the approach will need to be tailored to the size and maturity of your suppliers. Your procurement team can help you write the most appropriate contract requirements.","spans":[]}],"showTopBorder":true,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$efff9775-edef-4bda-a90c-7930adc3ac08","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[{"type":"heading2","text":"","spans":[]}],"text":[{"type":"paragraph","text":"Procurement Manager, a Sustainability Manager’s new BFF","spans":[{"start":0,"end":55,"type":"strong"}]},{"type":"paragraph","text":"Do these three things sound familiar? These are all procurement tools that all organisations have at hand. You can use them to address scope 3, circularity, modern slavery or nature or better yet, integrate these issues into a supplier code or sustainable procurement strategy and start communicating expectations to suppliers.","spans":[]},{"type":"paragraph","text":"","spans":[]},{"type":"paragraph","text":"Next steps","spans":[{"start":0,"end":10,"type":"strong"}]},{"type":"paragraph","text":"If you take one next step, it should be to simply start the conversation on Scope 3 emissions internally with your procurement team, and externally with your priority suppliers.","spans":[]}],"showTopBorder":null,"showBottomBorder":null,"largeTextMode":null},"id":"article_text_panel$6a483bbb-d921-4b4a-9e8b-1d0ef547898b","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"text":[{"type":"paragraph","text":"Get in touch with Nicole Thompson to learn more about supply chain emission reduction initiatives and tactics.","spans":[{"start":0,"end":12,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/contact"}}]}],"bgColor":"Mineral","alignment":"Center","fontSize":"Small","fontWeight":"Heavy"},"id":"text_panel$6ed2f7eb-c8e1-45b9-aec1-fd18917e0997","slice_type":"text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{"customTag":null}],"primary":{"showTags":false,"showShareLinks":true,"shareLabel":"Share this"},"id":"article_tags_and_share_links$af0ffe53-0e99-4a58-9d7d-a087fa8c479a","slice_type":"article_tags_and_share_links","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[],"primary":{"ctaLabel":"Read more","blurbWordLimit":20,"isDynamicContent":null},"id":"related_content_list$29fcefc5-081e-4c8e-84bd-95b67cf8d641","slice_type":"related_content_list","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"newsletterTitle":"Newsletter","newsletterDescription":[{"type":"paragraph","text":"Be first to get our ideas, invites and breakthroughs.","spans":[]},{"type":"paragraph","text":"Join the list with your name and email.","spans":[]}],"signUpBtnLabel":"Sign Up","hideCareersSection":true,"careersTitle":null,"careersDescription":[],"careersCTALink":{"link_type":"Any"},"careersCTALabel":null,"image":{"dimensions":{"width":1920,"height":1350},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/e117ad8d-da0f-4285-a5d5-3331309066cf_Edge_Round-FA02_BG_Shot06.png?auto=compress,format","id":"ZDiQ3hAAACAAgq39","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"successText":[]},"id":"newsletter_panel$816e74e0-e33b-4338-aa87-9238de152721","slice_type":"newsletter_panel","slice_label":null}],"title":"Shortcut your scope 3 emissions","date":"12 September 2023"},"link_type":"Document","key":"3e33bcd3-d17a-4a14-b0e6-5694a46eb6df","isBroken":false}},{"contentItem":{"id":"ZOvgBREAACMAxpev","type":"article","tags":[],"lang":"en-au","slug":"maximising-effectiveness-leveraging-the-full-reporting-year-to-address-modern-slavery","first_publication_date":"2023-08-28T06:36:36+0000","last_publication_date":"2023-09-11T23:38:06+0000","uid":"maximising-effectiveness-to-address-modern-slavery","data":{"readingTime":"10 minutes","uid":"maximising-effectiveness-to-address-modern-slavery","slices":[{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"article":{"link_type":"Document"},"title":[{"type":"heading1","text":"Maximising Effectiveness: Leveraging the Full Reporting Year to Address Modern Slavery","spans":[]}],"subtitle":[{"type":"paragraph","text":"Written by: Nick Dexter, Principal, Practice Lead for Business Human Rights and Modern Slavery","spans":[]}],"blurb":[{"type":"paragraph","text":"","spans":[]}],"image":{"dimensions":{"width":5919,"height":3946},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/63a4d7c4-8817-4ef9-8fdd-644482536866_arno-senoner-bCgsKqFzUcg-unsplash.jpg?auto=compress,format","id":"ZOvxRBEAACQAxuUu","edit":{"x":0,"y":0,"zoom":1,"background":"#fff"}},"layoutType":null,"blurbWordLimit":null,"ctaLabel":null},"id":"article_title$443bd272-8c2c-4ff5-83b6-deb173cbb714","slice_type":"article_title","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{"customTag":"Human Rights"},{"customTag":"Modern Slavery"},{"customTag":"Reporting"}],"primary":{"showTags":false,"showShareLinks":false,"shareLabel":null},"id":"article_tags_and_share_links$d1416aee-4c9e-4183-ab7d-23fd1002dea3","slice_type":"article_tags_and_share_links","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[{"type":"heading2","text":"Modern slavery reporting is overshadowing action on modern slavery. Reset your company’s approach to reporting so that you can reap the benefits of proactive engagement in eradicating modern slavery.","spans":[]}],"text":[{"type":"paragraph","text":"The Modern Slavery Act 2018 (Cth) allows subject entities six months from the end of their financial year to lodge their disclosure with the Attorney General's office. Given the pressure executives face during the financial year-end, many companies make full use of the post EOFY six month’s grace. As a result, they unintentionally divide their year into two halves - six months for writing the statement which inherently involves documenting commitments for the next year and beyond and another six months for delivering those commitments to stakeholders. This approach creates stress for teams across Australia and results in missed opportunities and suboptimal outcomes.","spans":[{"start":4,"end":27,"type":"em"}]},{"type":"paragraph","text":"A more effective approach is for companies to take a longer-term view, separating their action roadmap from their disclosure statements. By doing so, they can keep a continuous eye to the horizon and make use of their full reporting year, enabling them to deliver commitments efficiently while reducing the anxiety associated with reporting. In this article, we will explore the significance of starting the year off right; creating a plan, and leveraging the full reporting year to fulfill commitments. By adopting this approach, businesses can enhance their effectiveness in addressing modern slavery and achieve better outcomes for all stakeholders. In this article, we’ll discuss how to start this financial year off right.","spans":[]}],"showTopBorder":null,"showBottomBorder":null,"largeTextMode":null},"id":"article_text_panel$a6567864-7b1d-4098-b9de-898cf5fbb091","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"quoteText":[{"type":"paragraph","text":"Companies have six months after their financial year-end to lodge disclosures. Many utilise this grace period fully, dividing their year into halves - writing commitments for the future in one, and delivering them to stakeholders in the other. This practice, though common, creates stress and missed opportunities.","spans":[]}],"quoteAuthor":[],"image":{"dimensions":{"width":4936,"height":3290},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/a5a22e5b-2f5d-4cd9-81f7-598926213f26_fruit+pickers.jpg?auto=compress,format","id":"ZOvxRxEAACQAxuU9","edit":{"x":0,"y":0,"zoom":1,"background":"#fff"}},"imagePosition":null},"id":"article_quote_and_image$0ea4bb49-1b61-43aa-9b87-e5cd4e01e979","slice_type":"article_quote_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[{"type":"heading2","text":"Why we need to get more effective in our anti-modern slavery efforts:","spans":[]}],"text":[{"type":"paragraph","text":"The \"Broken Promises: Two years of corporate reporting under Australia’s Modern Slavery Act\" report examined the second-year corporate statements submitted to the Government's Modern Slavery Register. The findings indicated many areas of concern, including:","spans":[{"start":5,"end":92,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.hrlc.org.au/reports-news-commentary/broken-promises"}}]},{"type":"list-item","text":"66% of reviewed companies failing to comply with the basic reporting requirements mandated by the legislation","spans":[]},{"type":"list-item","text":"56% of commitments made by companies remained unfulfilled based on their second-year statements","spans":[]},{"type":"list-item","text":"43% of reviewed companies failing to identify obvious modern slavery risks in their supply chains, and","spans":[]},{"type":"list-item","text":"Two-thirds of companies not addressing modern slavery risks adequately. ","spans":[]},{"type":"paragraph","text":"The statutory review of the Modern Slavery Act 2018 has recommended 30 changes to the Act to accelerate Australia’s actions to address modern slavery, including:","spans":[{"start":4,"end":51,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/insights/modern-slavery-act-updates"}},{"start":28,"end":51,"type":"em"}]},{"type":"paragraph","text":"Addition of new mandatory reporting criteria:","spans":[{"start":0,"end":45,"type":"strong"}]},{"type":"list-item","text":"Modern slavery incidents or risks identified by the organisation during the reporting year,","spans":[]},{"type":"list-item","text":"Grievance and complaint mechanisms made available by the organisation to staff members and other people (undefined); and","spans":[]},{"type":"list-item","text":"Internal and external consultation undertaken by the organisation during the reporting year on modern slavery risk management.","spans":[]},{"type":"list-item","text":"Introduction of a mandatory due diligence requirement – this should effectively identify and assess modern slavery risks and track the performance in addressing them and will not apply to organisations that sit within the $50-100 million threshold for 2 years.","spans":[]},{"type":"list-item","text":"A mechanism for the Minister or the Anti-Slavery Commissioner to declare high-risk regions, industries, products, suppliers, or supply chains. Reporting organisations will need to consider these declarations during the reporting process.","spans":[]},{"type":"list-item","text":"Introduction of penalties for non-compliance. Areas of non-compliance highlighted in the report include non-submission, knowingly submitting materially false information, failing to comply with a request from the Minister and not having a due diligence system in place that meets the Act’s requirements.","spans":[]},{"type":"paragraph","text":"The common practice of dividing the financial year into two halves—reporting achievements and meeting commitments — hinders progress in addressing modern slavery. This approach often results in delayed alignment on the current year’s activities, leaving limited time for meaningful action. A well-crafted disclosure statement results from consistent efforts throughout the reporting period – companies who use less than the full twelve months are hamstringing what their teams could otherwise achieve.","spans":[]}],"showTopBorder":true,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$efff9775-edef-4bda-a90c-7930adc3ac08","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"quoteText":[{"type":"paragraph","text":"Imagine what your company could achieve with an extra six months dedicated to delivering your modern slavery commitments?","spans":[]}],"quoteAuthor":[],"image":{"dimensions":{"width":3680,"height":2456},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/b25472b2-69ca-47ae-b7ca-1280d3d156f5_remy-gieling-alxnBRdFGJI-unsplash.jpg?auto=compress,format","id":"ZOvxQREAACMAxuUd","edit":{"x":0,"y":0,"zoom":1,"background":"#fff"}},"imagePosition":null},"id":"article_quote_and_image$db4371aa-c5af-4fc4-b8cf-6ba462255912","slice_type":"article_quote_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[{"type":"heading2","text":"Start this year off right:","spans":[]}],"text":[{"type":"paragraph","text":"Prepare and review your baseline data: Collect and analyse relevant data from the previous year, such as training statistics, SAQ response rates, and audit summaries. These statistics serve as a baseline for measuring progress and identifying areas for improvement. By reviewing these numbers now you will have them ready when you go to write your report but you can start your activities to improve on them today. If every year you find yourself scratching your head on what evidence to provide in your statement; this is the year to establish your effectiveness measurement framework (formal KPI’s with clear metrics, broken out to test the effectiveness of each stage of your due diligence framework).","spans":[{"start":0,"end":38,"type":"strong"}]},{"type":"paragraph","text":"Document your achievements: Review key accomplishments and lessons learned that have influenced your approach to combating modern slavery. Case studies highlighting positive steps taken and their impact add credibility to your reporting. By documenting these achievements while they are fresh, you reduce the anxiety of trying to remember them later. If you are lucky enough to work somewhere with a robust quality systems framework, consider asking your quality manager to add a tag for 3rd Party Social Risks in your Corrective Action/Preventative Action quality management system. Provided this system is well used and confidential information can be maintained within it this allows for an excellent repository of learning for you to make use of next year.","spans":[{"start":0,"end":27,"type":"strong"}]},{"type":"paragraph","text":"Review your commitments: Review last year’s commitments and evaluate the progress achieved in each area. Take detailed notes on the steps taken, challenges faced, and outcomes achieved. This review provides a foundation for setting new goals and strategies for the current year.","spans":[{"start":0,"end":24,"type":"strong"}]},{"type":"paragraph","text":"Develop a Plan: Convene your Modern Slavery Working Group together and set your objectives for the current year. Identify any existing gaps and develop strategies to address them. A comprehensive plan sets clear objectives, outlines actions, and establishes measurable targets. It ensures that all relevant stakeholders are aligned, resources are allocated appropriately, and progress is regularly monitored.","spans":[{"start":0,"end":15,"type":"strong"}]},{"type":"paragraph","text":"Extend your plan: Set your sights beyond this year and challenge your team to write a three-year future focussed modern slavery action plan. Doing so will mean that next year you already have a good sense for your next steps and will help foster a culture of continuous improvement in your approaches. Recognise your limitations – if your team are unclear on your long-term goals or where to take your approaches this year, you might be in need of external perspectives.","spans":[{"start":0,"end":17,"type":"strong"}]},{"type":"paragraph","text":"Write this year’s statement with purpose: Many companies write their statements from a blank sheet of paper each year. Challenge your team to take a more formulaic approach that allows you to next year pick-up where you left off, make the necessary adjustments to reflect current practice, update your key performance indicators and case studies and sign it off efficiently. Challenge your team to build internal consensus early on your statement, have it approved by your Board and socialised as early as possible to help you leverage the commitments into meaningful action.","spans":[{"start":0,"end":41,"type":"strong"}]}],"showTopBorder":null,"showBottomBorder":null,"largeTextMode":null},"id":"article_text_panel$6a483bbb-d921-4b4a-9e8b-1d0ef547898b","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[{"type":"heading2","text":"Conclusion:","spans":[]}],"text":[{"type":"paragraph","text":"In the past three years, the two-half mentality of Australian businesses has constrained corporate effectiveness in combatting modern slavery. To keep up with rising legislative and stakeholder expectations, companies must make better use of the full twelve months available. By starting early, planning effectively, and utilising the entire reporting year, organisations can maximise their efforts in addressing modern slavery, promoting a more ethical and sustainable business environment.","spans":[]}],"showTopBorder":null,"showBottomBorder":null,"largeTextMode":null},"id":"article_text_panel$e85ad6cb-6501-4062-b509-dfc5b4c116bb","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"text":[{"type":"paragraph","text":"Need   a more strategic approach to your Modern Slavery Reporting? Reach out to Nick Dexter (nick.dexter@edgeimpact.global ) our New Zealand Regional Lead to have a chat about how we can support you to prepare for this key piece of legislation.","spans":[{"start":93,"end":122,"type":"hyperlink","data":{"link_type":"Web","url":"mailto:nick.dexter@edgeimpact.global"}}]}],"bgColor":"Mineral","alignment":"Center","fontSize":"Small","fontWeight":"Heavy"},"id":"text_panel$6ed2f7eb-c8e1-45b9-aec1-fd18917e0997","slice_type":"text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{"customTag":null}],"primary":{"showTags":false,"showShareLinks":true,"shareLabel":"Share this"},"id":"article_tags_and_share_links$af0ffe53-0e99-4a58-9d7d-a087fa8c479a","slice_type":"article_tags_and_share_links","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{"contentItem":{"id":"ZHQPWRIAACMA2Nt2","type":"article","tags":[],"lang":"en-au","slug":"webinar-addressing-human-rights-risks-in-the-property-and-construction-value-chain","first_publication_date":"2023-05-31T00:37:25+0000","last_publication_date":"2023-09-11T23:39:28+0000","uid":"human-rights-webinar","link_type":"Document","key":"a9c5b953-c545-4e50-800b-5de14660d5f0","isBroken":false}},{"contentItem":{"id":"ZNAp6xIAACkATgC4","type":"article","tags":[],"lang":"en-au","slug":"modern-slavery-legislation-is-coming-to-new-zealand-how-it-will-impact-your-business-and-what-you-can-do-to-prepare","first_publication_date":"2023-08-07T00:04:10+0000","last_publication_date":"2023-09-11T23:35:43+0000","uid":"modern-slavery-nz","link_type":"Document","key":"edbb0495-057d-476c-8f7e-ade5869afa86","isBroken":false}}],"primary":{"ctaLabel":"Read more","blurbWordLimit":20,"isDynamicContent":null},"id":"related_content_list$29fcefc5-081e-4c8e-84bd-95b67cf8d641","slice_type":"related_content_list","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"newsletterTitle":"Newsletter","newsletterDescription":[{"type":"paragraph","text":"Be first to get our ideas, invites and breakthroughs.","spans":[]},{"type":"paragraph","text":"Join the list with your name and email.","spans":[]}],"signUpBtnLabel":"Sign Up","hideCareersSection":true,"careersTitle":null,"careersDescription":[],"careersCTALink":{"link_type":"Any"},"careersCTALabel":null,"image":{"dimensions":{"width":1920,"height":1350},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/e117ad8d-da0f-4285-a5d5-3331309066cf_Edge_Round-FA02_BG_Shot06.png?auto=compress,format","id":"ZDiQ3hAAACAAgq39","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"successText":[]},"id":"newsletter_panel$816e74e0-e33b-4338-aa87-9238de152721","slice_type":"newsletter_panel","slice_label":null}],"title":"Maximising Effectiveness: Leveraging the Full Reporting Year to Address Modern Slavery","date":"28 August 2023"},"link_type":"Document","key":"007dd619-5191-488a-b994-f0ed8344e436","isBroken":false}}],"primary":{"ctaLabel":"Read more","blurbWordLimit":20,"isDynamicContent":false},"id":"related_content_list$29fcefc5-081e-4c8e-84bd-95b67cf8d641","slice_type":"related_content_list","slice_label":null}],"title":"Why is circular procurement a hot topic right now?","date":"18 September 2023"},"link_type":"Document","key":"8ef8c6fd-7bd1-4f5a-a876-1329dfa01902","isBroken":false}},{"articles":{"id":"Za2ZthEAADRQKaCt","type":"article","tags":[],"lang":"en-au","slug":"a-sustainability-communications-checklist-for-the-new-era-of-disclosure","first_publication_date":"2024-01-21T23:39:37+0000","last_publication_date":"2024-11-08T02:31:00+0000","uid":"sustainability-communications-checklist-for-the-new-era-of-disclosure","data":{"readingTime":"8 min. read","uid":"sustainability-communications-checklist-for-the-new-era-of-disclosure","slices":[{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"article":{"link_type":"Document"},"title":[{"type":"heading1","text":"A Sustainability Communications Checklist for the New Era of Disclosure","spans":[],"direction":"ltr"}],"subtitle":[{"type":"paragraph","text":"Written by \nMiriam Fine, Principal, Sustainability Communications","spans":[],"direction":"ltr"}],"blurb":[{"type":"paragraph","text":"","spans":[]}],"image":{"dimensions":{"width":6533,"height":4355},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/ZyA6168jQArTz69__BiodiversityBreakfast-11.jpg?auto=format,compress","id":"ZyA6168jQArTz69_","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"layoutType":"Aligned Bottom","blurbWordLimit":null,"ctaLabel":null},"id":"article_title$443bd272-8c2c-4ff5-83b6-deb173cbb714","slice_type":"article_title","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{"customTag":"ESG Reporting"},{"customTag":"ESG"},{"customTag":"Disclosure"},{"customTag":"Sustainability Consultancy"}],"primary":{"showTags":false,"showShareLinks":false,"shareLabel":null},"id":"article_tags_and_share_links$d1416aee-4c9e-4183-ab7d-23fd1002dea3","slice_type":"article_tags_and_share_links","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[{"type":"heading2","text":"With the new calendar year now well underway, sustainability reporting is moving to the top of the corporate agenda. ","spans":[],"direction":"ltr"}],"text":[{"type":"paragraph","text":"A whole raft of new ESG disclosure requirements – from WGEA reporting expansion to mandatory climate-related financial disclosures – are being introduced in 2024, with even more on the horizon. ","spans":[{"start":0,"end":47,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.linkedin.com/pulse/what-australian-companies-need-know-2024-esg-disclosure-reporting-4qlqc%3FtrackingId=zdbHZeRtThyF0sdsoxtOlg%253D%253D/?trackingId=zdbHZeRtThyF0sdsoxtOlg%3D%3D","target":"_blank"}}],"direction":"ltr"},{"type":"paragraph","text":"Tackling the disclosure challenge ","spans":[{"start":0,"end":33,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"In the rush to meet the proposed requirements, many organisational functions are already feeling stretched by the task at hand. Taking climate-related financial disclosures as one example, the challenge of capturing relevant data across a whole range of climate risks and associated financial impacts is one of the biggest shifts in corporate reporting seen this century.","spans":[],"direction":"ltr"},{"type":"paragraph","text":" As new layers of ESG disclosure requirements come on stream in the coming months and years, the complexity and momentum is increasing and so is the pressure on companies to prepare for this dynamic and demanding reporting landscape. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"In our Discussion Paper: How  to Thrive in the New Era of ESG Disclosure we offer insights and advice to help companies navigate their reporting journey for the next 18 months and beyond.","spans":[{"start":7,"end":73,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/esg-disclosure-handbook","target":"_blank"}}],"direction":"ltr"},{"type":"paragraph","text":" To develop this step-by-step guide, we’ve drawn on our expertise and working practice across Edge Impact to call out the strategy and steps, resources and knowledge it will take to achieve compliance and realise the potential advantages of embedding sustainability into business practices and decision-making.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Stepping up to this challenge makes new demands for organisations at every level – for directors, executives and employees and across operations, legal, risk and finance and more. These people and functions will have their work cut out to ensure data is captured, collated, verified and assured for new reporting standards to be met with accuracy. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":" ","spans":[],"direction":"ltr"}],"showTopBorder":false,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$a6567864-7b1d-4098-b9de-898cf5fbb091","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[],"primary":{"quoteText":[{"type":"paragraph","text":"With this newly defined accountability pathway from business to board to investor we’re seeing a far greater focus on two dominant themes in the sustainability reporting landscape – compliance and ‘greenhushing’.  ","spans":[],"direction":"ltr"}],"quoteAuthor":[],"image":{"dimensions":{"width":1299,"height":866},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/65adabcc38f662e9dd211de3_949c835b-6547-47be-970a-93132235dce0.jpg?auto=format,compress","id":"Za2rzDj2YundIR3j","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"imagePosition":"Right"},"id":"article_quote_and_image$e4d043bf-48bb-4bc7-89af-95073625453c","slice_type":"article_quote_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[],"text":[{"type":"paragraph","text":"Reassuring boards with a rigorous approach ","spans":[{"start":0,"end":42,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"At the board level, concern about accuracy and risk – in both sustainability data and storytelling – is at code red level. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"When this risk averse stance results in a paring back of both ambition and communication on sustainability, this sets up a significant challenge for executives and teams looking to implement the strategies that will make positive impact possible. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"To bring the rigour to match this zero-tolerance stance on missteps in risk and sustainability, Edge has a wealth of experience in taking clients on a journey towards maturity across their sustainability strategy, initiatives and reporting. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Our expertise in helping organisations incorporate science-based frameworks and metrics into strategic objectives, reporting and broader communications on sustainability, sets them up for success when they come to present their sustainability ambitions, performance and narrative to a board who are understandably wary of their liability for unfounded sustainability claims.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Closing the communications gap ","spans":[{"start":0,"end":30,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"In the flurry of activity that reporting demands, the communications effort needed to land the output favourably with stakeholders is often left to the last minute – rather like icing on a cake that’s taken months to bake because you had to build the kitchen and grow the ingredients.  Or it can be vetoed by board members due to their perception of risks involved in saying more than is strictly required by legislation. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"And yet this part of the reporting process represents an opportunity for organisations to reinforce or even enhance their market position as an authentic and responsible voice in the sustainability conversation. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"In addition to covering what this communications effort might entail in the handbook, we’ve put together this checklist to help organisations get set up for an approach to reporting – and sustainability communications more broadly – that keeps the opportunities front and centre without losing sight of risks.","spans":[],"direction":"ltr"}],"showTopBorder":false,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$1f503ec0-5f51-4f72-bbf1-4d352f03a09f","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"text":[{"type":"paragraph","text":"Checklist for an authentic disclosure journey ","spans":[],"direction":"ltr"}],"bgColor":"Mineral","alignment":"Center","fontSize":"Small","fontWeight":"Heavy"},"id":"text_panel$8f3142fd-d522-4e5a-b4b7-5a005d01e20c","slice_type":"text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[],"primary":{"title":[],"text":[{"type":"paragraph","text":"Consider your audience ","spans":[{"start":0,"end":22,"type":"em"},{"start":0,"end":22,"type":"strong"},{"start":22,"end":23,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"With sustainability reporting speeding to the top of the corporate agenda, boards and investors are likely to dominate when it comes to audience considerations. These specialist audiences are very clear on the data they’re looking for to tell them how a company is tracking on critical sustainability goals that could impact their risk profile and financial outcomes.  ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Generalist audiences – employees, customers, suppliers and communities – are looking to the same report for the vision and story that bring the data and overall sustainability scorecard to life. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Ask yourself if a pared back narrative will engage this generalist audience and help them understand where sustainability sits in relation to company values and other strategic priorities. Put as much effort into telling a compelling story as you have for the evidence to back it up and you’ll have a set of sustainability messages with much broader application from an audience perspective.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Be clear on commitment, progress and action ","spans":[{"start":0,"end":44,"type":"em"},{"start":0,"end":44,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"Verified data on impacts is essential for mapping the past and forecasting the future. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"This couldn’t be more important in the sustainability context as it sets organisations up for selecting strategic priorities that ladder up to targets for reducing negative impacts. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"For construction giant Boral, an ASX-listed company, setting a specific target for Scope 1 and 3 emissions reduction in 2019 left them with a risk exposure to manage when it became clear their ambitions were not aligned with progress.","spans":[{"start":23,"end":28,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.boral.com.au/","target":"_blank"}}],"direction":"ltr"},{"type":"paragraph","text":"In a media release from 23 October 2023, the company went public with a reduction in their 2025 emissions target from 18 percent to 12-14 percent. Along with abundant proof points supporting their strategic approach to emissions reduction, this communication sends a clear message that their directors take seriously their responsibility to set targets based on the investments and initiatives that make progress possible. ","spans":[{"start":5,"end":39,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.boral.com.au/news-announcements/asx-media-releases/boral-and-ESG-disclosures","target":"_blank"}}],"direction":"ltr"},{"type":"paragraph","text":"With their Board commitment to ‘carefully review targets before they are set as well ensuring there is a sound, achievable basis for our targets’ Boral is speaking with confidence on their ability to meet expectations of investors and regulators under the new reporting regime.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"When challenges present, call out the opportunity ","spans":[{"start":0,"end":50,"type":"em"},{"start":0,"end":50,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"At a time when use of carbon offsets has been hotly debated in sustainability circles and the media, many companies have been unsure how to navigate – and communicate - their position on climate-related targets. In their statement on where they’re heading on emissions reduction, media company JC Decaux have turned their new direction into a compelling soundbite.   ","spans":[{"start":15,"end":36,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.theguardian.com/environment/2023/dec/13/critical-or-concerning-cop28-debates-role-of-carbon-markets-in-climate-crisis","target":"_blank"}},{"start":221,"end":278,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.jcdecaux.com.au/press-releases/jcdecaux-invests-transparency-partnering-scope3-launch-carbon-emissions-measurement","target":"_blank"}}],"direction":"ltr"}],"showTopBorder":false,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$d7b241ec-b22f-477f-bdc5-3c9555c82784","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[],"primary":{"quoteText":[{"type":"paragraph","text":"“We can’t neutralise our way out of the climate crisis and as a business JCDecaux in Australia and New Zealand will focus on science-based net-zero targets, rather than chasing carbon neutrality.” ","spans":[],"direction":"ltr"}],"quoteAuthor":[{"type":"paragraph","text":" Alexandra Heaven, Head of ESG JCDecaux","spans":[],"direction":"ltr"}],"image":{"dimensions":{"width":1299,"height":867},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/65adb52438f662e9dd211e12_acb565f4-366e-421f-ae41-599bac13c0a3.jpg?auto=format,compress","id":"Za21JDj2YundIR4S","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"imagePosition":"Right"},"id":"article_quote_and_image$3d4dbaba-c6f1-48bd-a92a-ce5c0c8c7e32","slice_type":"article_quote_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[],"primary":{"title":[],"text":[{"type":"paragraph","text":"This is a fine example of turning a challenge into an opportunity. By going out with a strong position – and a chosen vendor for providing transparency on their emissions – they’re taking a leadership role as sustainability advocates for their industry. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Anchor sustainability to brand and values ","spans":[{"start":0,"end":42,"type":"em"},{"start":0,"end":42,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"As a brand that’s all about the benefits of innovation, Lego has long been a voice in the sustainability conversation. Having made some big bets on increasing recycled materials in their products, they’ve had to back down on their expected pathway to sustainable products and cutting emissions.  ","spans":[{"start":56,"end":60,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.lego.com/en-au","target":"_blank"}}],"direction":"ltr"},{"type":"paragraph","text":"When they discovered their rPET solution wouldn’t help their carbon footprint they took the hit and walked away, acknowledging that being innovative sometimes means making mistakes. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"It’s a message that’s right on target for their brand – staying true to their sustainability commitments means admitting when they’ve got it wrong so they can work on finding a better solution.","spans":[],"direction":"ltr"}],"showTopBorder":false,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$913a0647-08e8-4e13-8042-41bc1ca13f99","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[],"primary":{"quoteText":[{"type":"paragraph","text":"“This is the nature of innovation – especially when it comes to something as complex and ambitious as our sustainable materials programme. Some things will work, others won’t.” ","spans":[],"direction":"ltr"}],"quoteAuthor":[{"type":"paragraph","text":"The LEGO Group","spans":[],"direction":"ltr"}],"image":{"dimensions":{"width":5184,"height":3888},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/65ada92738f662e9dd211ddf_kvalifik-5Q07sS54D0Q-unsplash.jpg?auto=format,compress","id":"Za2pJzj2YundIR3f","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"imagePosition":"Right"},"id":"article_quote_and_image$207a67c6-b55d-4462-b56b-53c79bd4bf5a","slice_type":"article_quote_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[],"primary":{"title":[],"text":[{"type":"paragraph","text":"Set the scene to limit surprises ","spans":[{"start":0,"end":32,"type":"em"},{"start":0,"end":32,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"Ambitions on corporate climate action are growing ever higher.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"91% of global GDP is now captured by national government net-zero targets, up from 68% in December 2020.​ But for a lot of companies, their goals are unrealistic, according to reports that 93% of the world’s largest companies will fail to reach their net zero targets. ","spans":[{"start":0,"end":73,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edie.net/report-net-zero-targets-hitting-critical-mass-but-credibility-gaps-must-be-addressed/","target":"_blank"}},{"start":175,"end":225,"type":"hyperlink","data":{"link_type":"Web","url":"https://newsroom.accenture.com/news/2022/nearly-all-companies-will-miss-net-zero-goals-without-at-least-doubling-rate-of-carbon-emissions-reductions-by-2030-accenture-report-finds","target":"_blank"}}],"direction":"ltr"},{"type":"paragraph","text":"In light of this, it’s essential for companies to consider how to prepare their case for a change in their forecast, or results that don’t live up to expectations. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"As these examples have shown, there are communication strategies that can help these surprises become part of an authentic and cohesive narrative. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"But this takes preparation and consideration of brand, audience and context as strategic inputs. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"It means making communication central to your sustainability resourcing and reporting at every step. ","spans":[],"direction":"ltr"}],"showTopBorder":false,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$e6e4598c-091c-424f-abf3-c3e39db177a0","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"text":[{"type":"paragraph","text":"We empower businesses to tell their sustainability stories and impact in a way that cuts through the noise of greenwashing. ","spans":[{"start":123,"end":124,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/greenwashing-handbook","target":"_blank"}}],"direction":"ltr"},{"type":"paragraph","text":"Contact us today.","spans":[{"start":0,"end":17,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/contact","target":"_blank"}}],"direction":"ltr"}],"bgColor":"Mineral","alignment":"Center","fontSize":"Small","fontWeight":"Heavy"},"id":"text_panel$f01a1cd8-6304-469e-ab59-f72683e4e879","slice_type":"text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{"contentItem":{"id":"ZX-YvhAAADGEHVpo","type":"article","tags":[],"lang":"en-au","slug":"-","first_publication_date":"2023-12-18T01:22:05+0000","last_publication_date":"2024-03-08T06:21:25+0000","uid":"metrics-that-matter-guiding-climate-action","data":{"readingTime":"8 min. read","uid":"metrics-that-matter-guiding-climate-action","slices":[{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"article":{"link_type":"Document"},"title":[{"type":"heading1","text":"Guiding Climate Action Through Informed Decision-Making ","spans":[],"direction":"ltr"}],"subtitle":[{"type":"paragraph","text":"Written by \nMark Siebentritt, Executive Director","spans":[],"direction":"ltr"}],"blurb":[{"type":"paragraph","text":"","spans":[]}],"image":{"dimensions":{"width":1300,"height":867},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/65963573531ac2845a27199f_0fb5012b-f96d-469c-92f8-65efca453719.jpg?auto=format,compress","id":"ZZY1c1MawoRaJxmf","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"layoutType":"Aligned Bottom","blurbWordLimit":null,"ctaLabel":null},"id":"article_title$443bd272-8c2c-4ff5-83b6-deb173cbb714","slice_type":"article_title","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{"customTag":"Climate Change"},{"customTag":"Climate Governance"},{"customTag":"Climate Risk"},{"customTag":"Corporate Governance"},{"customTag":"Climate Disclosure Reporting"}],"primary":{"showTags":false,"showShareLinks":false,"shareLabel":null},"id":"article_tags_and_share_links$d1416aee-4c9e-4183-ab7d-23fd1002dea3","slice_type":"article_tags_and_share_links","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[{"type":"heading2","text":"In the ever-evolving landscape of corporate responsibility, the adage \"you can't manage what you can't measure\" holds more significance than ever, especially when it comes to climate change.  ","spans":[],"direction":"ltr"}],"text":[{"type":"paragraph","text":"As pressure mounts from both shareholders and stakeholders to address environmental concerns, the need for evidence-based decision-making becomes imperative. Beyond being a good practice, it is also a requirement for climate disclosure reporting.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Here are 6 key considerations to help guide your climate action decisions:","spans":[],"direction":"ltr"},{"type":"paragraph","text":"1. Understanding Thresholds and Tipping Points: A Time-Strategic Approach","spans":[{"start":0,"end":73,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"Effective response to climate change requires a strategic approach that spans both short and long-term actions. The key lies in identifying thresholds and tipping points, pivotal moments that indicate the need for immediate action.  ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"By monitoring specific metrics, such as the occurrence of floods in successive years at a particular location, organisations can anticipate potential asset failures and allocate investments accordingly. This proactive approach not only mitigates risks but also spreads financial commitments over time, avoiding upfront financial strain.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"2. Tailoring Metrics for Diverse Climate Risks: Physical vs. Transition ","spans":[{"start":0,"end":71,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"Not all climate risks are created equal, and recognising the differences between physical and transition risks is crucial. Metrics and targets should be specifically designed to address each type of risk. For instance, physical risk metrics might focus on observable changes, such as extreme weather events or shifts in climate patterns.  ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"In contrast, transition risk metrics should delve into the intricacies of scope 1-3 reporting, going beyond mere emissions reporting. This tailored approach ensures that organisations are equipped to monitor and respond to the unique challenges posed by different climate risks","spans":[],"direction":"ltr"}],"showTopBorder":false,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$a6567864-7b1d-4098-b9de-898cf5fbb091","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[],"primary":{"quoteText":[{"type":"paragraph","text":"While much attention has been rightly placed on the connection between transition risk and scope 1-3 emissions reporting, it is not sufficient. Transition risk metrics require a more comprehensive approach, encompassing factors beyond emissions.  ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"","spans":[],"direction":"ltr"},{"type":"paragraph","text":"","spans":[],"direction":"ltr"}],"quoteAuthor":[],"image":{"dimensions":{"width":5630,"height":3648},"alt":"white electic windmill","copyright":null,"url":"https://images.unsplash.com/photo-1548337138-e87d889cc369?crop=entropy&cs=srgb&fm=jpg&ixid=M3wzMzc0NjN8MHwxfHNlYXJjaHwxNnx8Y2xpbWF0ZSUyMGNoYW5nZXxlbnwwfHx8fDE3MDI4NjIzMDJ8MA&ixlib=rb-4.0.3&q=85?auto=compress,format","id":"pONBhDyOFoM","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"imagePosition":"Right"},"id":"article_quote_and_image$cf088704-ccb5-43b8-962a-d204edbb0ce1","slice_type":"article_quote_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[],"text":[{"type":"paragraph","text":"3. Moving Beyond Scope 1-3 Reporting: Unveiling the Nuances of Transition Risk Metrics","spans":[{"start":0,"end":86,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"Recognising the clear link between emissions and carbon prices is essential, but a nuanced understanding involves exploring broader aspects of transition risks. Metrics should delve into the resilience of supply chains, the adaptability of business models, and the potential impact of policy changes. This holistic approach ensures a more robust evaluation of transition risks. ","spans":[],"direction":"ltr"}],"showTopBorder":false,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$139dd209-14da-4188-85b5-a7d515451e8e","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"text":[{"type":"paragraph","text":"Learn how our climate change services can empower your organisation to build resilience to the physical and transition risks of a changing climate. Contact Us Today.","spans":[{"start":148,"end":165,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/contact","target":"_blank"}}],"direction":"ltr"}],"bgColor":"Mineral","alignment":"Center","fontSize":"Small","fontWeight":"Heavy"},"id":"text_panel$f01a1cd8-6304-469e-ab59-f72683e4e879","slice_type":"text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[],"text":[{"type":"paragraph","text":"4. Building a Knowledge Base through Careful Metric Selection  ","spans":[{"start":0,"end":63,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"Forecasting the financial risks associated with climate change is a challenging task, particularly due to the lack of business-specific impact models. However, the careful selection of reporting metrics can build the necessary evidence base. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Organisations, especially those in the early stages of addressing climate risk, can leverage a strategic set of metrics to develop a nuanced understanding of potential financial impacts. This iterative process enables continuous learning and refinement of risk assessment models over time.","spans":[],"direction":"ltr"}],"showTopBorder":false,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$e0625094-85a6-43e1-adef-971e087a892b","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"quoteText":[{"type":"paragraph","text":"The dynamics of climate change necessitate a learning system that adapts to current events. Metrics should not be static but responsive to the evolving environmental landscape.  ","spans":[],"direction":"ltr"}],"quoteAuthor":[],"image":{"dimensions":{"width":7952,"height":5304},"alt":"green trees covered with fog","copyright":null,"url":"https://images.unsplash.com/photo-1624239843776-bc73d46504bf?crop=entropy&cs=srgb&fm=jpg&ixid=M3wzMzc0NjN8MHwxfHNlYXJjaHwzMHx8Y2xpbWF0ZSUyMGNoYW5nZXxlbnwwfHx8fDE3MDI4NjIzMDJ8MA&ixlib=rb-4.0.3&q=85?auto=compress,format","id":"Ihsi88KpQkE","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"imagePosition":"Right"},"id":"article_quote_and_image$9eaaa3d0-dfe8-4c87-b3ec-c0a1f34f5282","slice_type":"article_quote_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[],"primary":{"title":[],"text":[{"type":"paragraph","text":"5. Integrating Current Events into a Learning System: A Dynamic Approach","spans":[{"start":0,"end":72,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"By linking metrics to risk assessment, organisations can create a feedback loop that incorporates real-time data and insights. This dynamic approach ensures that climate action remains relevant, effective, and aligned with the ever-changing challenges posed by climate change. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":" 6. Exploring Alignment with Existing Targets: Maximising Impact through Integration  ","spans":[{"start":0,"end":86,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"To enhance the effectiveness of climate disclosure, organisations should explore how existing targets for other reporting align with climate disclosure metrics. By integrating climate-related metrics into broader sustainability goals, companies can maximise the impact of their actions.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"This alignment fosters a more cohesive and comprehensive approach to corporate responsibility, reinforcing the interconnected nature of various environmental, social, and governance (ESG) factors. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"By embracing a tailored, dynamic, and integrated approach to metrics, businesses can navigate the challenges of climate risks while contributing meaningfully to a sustainable future. ","spans":[{"start":0,"end":183,"type":"em"}],"direction":"ltr"}],"showTopBorder":false,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$fd069736-7c73-4a58-85c6-447ce6eacaca","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"text":[{"type":"paragraph","text":"Learn how to Thrive in the New Era of ESG Disclosure with our latest Discussion Paper. Read it here.","spans":[{"start":95,"end":99,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/esg-disclosure-handbook","target":"_blank"}}],"direction":"ltr"}],"bgColor":"Mineral","alignment":"Center","fontSize":"Small","fontWeight":"Heavy"},"id":"text_panel$f73dd706-4db7-481b-b682-2f066e53637c","slice_type":"text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{"contentItem":{"id":"ZX-DIhAAAAaBHPoR","type":"article","tags":[],"lang":"en-au","slug":"-","first_publication_date":"2023-12-18T00:18:16+0000","last_publication_date":"2024-04-16T06:05:24+0000","uid":"navigating-climate-governance","link_type":"Document","key":"79403e30-1d66-40ff-bfae-4bc3b9c82af5","isBroken":false}},{"contentItem":{"id":"ZQfbThIAACMAqMal","type":"article","tags":[],"lang":"en-au","slug":"tnfd-is-here-what-does-it-mean-for-your-business--how-to-get-started","first_publication_date":"2023-09-18T05:30:54+0000","last_publication_date":"2024-08-26T13:06:55+0000","uid":"tnfd-is-here","link_type":"Document","key":"4ff44a0a-20cd-42ad-990b-74cd74c4129d","isBroken":false}},{"contentItem":{"id":"ZUhXDhAAACMAxEob","type":"article","tags":[],"lang":"en-au","slug":"circular-procurement-opportunities-for-local-government","first_publication_date":"2023-11-06T07:08:02+0000","last_publication_date":"2023-11-24T01:05:08+0000","uid":"circular-procurement-for-local-government","link_type":"Document","key":"cc5e244d-4829-4f21-9ad3-fdf2c9e5ddf1","isBroken":false}}],"primary":{"ctaLabel":"Read more","blurbWordLimit":20,"isDynamicContent":false},"id":"related_content_list$29fcefc5-081e-4c8e-84bd-95b67cf8d641","slice_type":"related_content_list","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"newsletterTitle":"Newsletter","newsletterDescription":[{"type":"paragraph","text":"Be first to get our ideas, invites and breakthroughs.
Join the list with your name and email.","spans":[]}],"signUpBtnLabel":"Sign Up","hideCareersSection":false,"careersTitle":"Careers at Edge","careersDescription":[{"type":"paragraph","text":"We have a number of exciting projects in the works and are rapidly expanding our team of consultants. Below are our latest job openings across our global offices. ","spans":[]}],"careersCTALink":{"link_type":"Web","key":"880deedc-c89a-4afa-8274-df8a5242806c","url":"https://edge.teamtailor.com/"},"careersCTALabel":"Careers Page","image":{"dimensions":{"width":1920,"height":1350},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/8f57f643-bfb3-4d51-b7ad-7be2606fa9c5_Edge_Round-FA02_BG_Shot06.png?auto=compress,format","id":"ZOMZsxAAACIAw0Zd","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"successText":[{"type":"paragraph","text":"Thanks for signing up! ","spans":[]}]},"id":"newsletter_panel$d8298fce-a3b7-44b7-86a4-61b85610e840","slice_type":"newsletter_panel","slice_label":null}],"title":"Guiding Climate Action Through Informed Decision-Making","date":"16 January 2023"},"link_type":"Document","key":"7b03d4d1-0463-4adc-8d03-63065eeb9870","isBroken":false}},{"contentItem":{"id":"ZQfbThIAACMAqMal","type":"article","tags":[],"lang":"en-au","slug":"tnfd-is-here-what-does-it-mean-for-your-business--how-to-get-started","first_publication_date":"2023-09-18T05:30:54+0000","last_publication_date":"2024-08-26T13:06:55+0000","uid":"tnfd-is-here","data":{"readingTime":"7 minutes.","uid":"tnfd-is-here","slices":[{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"article":{"link_type":"Document"},"title":[{"type":"heading1","text":"TNFD is here: What Does It Mean for Your Business & How to Get Started","spans":[],"direction":"ltr"}],"subtitle":[{"type":"paragraph","text":"Written by: Sarah Day, Principal Consultant, Nature & Biodiversity","spans":[],"direction":"ltr"}],"blurb":[{"type":"paragraph","text":"","spans":[]}],"image":{"dimensions":{"width":3637,"height":2046},"alt":"Smoke billowing from power plant towers alongside a lush field, underscoring the necessity for TNFD-guided environmental reporting.","copyright":null,"url":"https://images.prismic.io/edgeimpact/ZhiCwDjCgu4jzxS__wim-van-t-einde-RngTOSHC6ys-unsplash.jpg?auto=format,compress","id":"ZhiCwDjCgu4jzxS_","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"layoutType":"Aligned Bottom","blurbWordLimit":null,"ctaLabel":null},"id":"article_title$443bd272-8c2c-4ff5-83b6-deb173cbb714","slice_type":"article_title","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{"customTag":"NATURE POSITIVE"},{"customTag":"TNFD"},{"customTag":"SBTN"},{"customTag":"RISK MANAGEMENT"},{"customTag":"STRATEGY"}],"primary":{"showTags":false,"showShareLinks":false,"shareLabel":null},"id":"article_tags_and_share_links$d1416aee-4c9e-4183-ab7d-23fd1002dea3","slice_type":"article_tags_and_share_links","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[],"text":[{"type":"heading2","text":"Introduction to TNFD and Its Significance:","spans":[{"start":0,"end":42,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"With the recent release of the Taskforce on Nature Related Financial Disclosures (TNFD) framework, how does your business actually plan to have a positive impact on nature?","spans":[{"start":0,"end":172,"type":"em"}],"direction":"ltr"},{"type":"paragraph","text":"","spans":[],"direction":"ltr"},{"type":"paragraph","text":"We stand at a pivotal moment in history, where our actions can either perpetuate the degradation of our planet or pave the way towards a nature-positive future.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"There are ample opportunities for businesses to manage risks, engage in a sustainable way with nature, and achieve positive outcomes for nature, their organisations and society… and yet most companies, investors and lenders today inadequately account for nature-related risks and opportunities in their decision making.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"This is where the Taskforce on Nature Related Financial Disclosures (TNFD) comes in.","spans":[{"start":18,"end":67,"type":"hyperlink","data":{"link_type":"Web","url":"https://tnfd.global/","target":"_blank"}}],"direction":"ltr"},{"type":"paragraph","text":"","spans":[],"direction":"ltr"},{"type":"heading2","text":"Understanding the TNFD Framework:","spans":[{"start":0,"end":33,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"The TNFD framework is a risk management and disclosure framework for businesses to identify, assess, respond and, where appropriate, disclose their nature-related issues.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"It will encourage early action by any organisation (corporate, investor, government) to begin disclosing nature-related dependencies, impacts, risks and opportunities.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"The TNFD has been developed to highlight the interrelationship between nature and climate and provide a platform for integrated nature-related disclosures in the same way the Taskforce on Climate-related Financial Disclosures (TCFD) did for climate.","spans":[{"start":175,"end":225,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.fsb-tcfd.org/","target":"_blank"}}],"direction":"ltr"},{"type":"paragraph","text":"","spans":[],"direction":"ltr"},{"type":"heading3","text":"What is the difference between TNFD and TCFD?","spans":[],"direction":"ltr"},{"type":"paragraph","text":"While both the Taskforce on Nature Related Financial Disclosures (TNFD) and Taskforce on Climate-related Financial Disclosures (TCFD) are pivotal in guiding organisations toward more sustainable and transparent practices, they focus on different aspects of environmental impact.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"The TCFD, or Taskforce on Climate-related Financial Disclosures, primarily addresses how organisations should disclose climate-related financial risks and opportunities. In contrast, the TNFD extends this scope to encompass the broader environmental challenges, including biodiversity loss and ecosystem degradation.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"This broader perspective is crucial as it acknowledges the intricate connections between climate change and nature, emphasising the need for a holistic approach to sustainability.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"","spans":[],"direction":"ltr"},{"type":"heading3","text":"The Four Pillars of the TNFD Framework","spans":[],"direction":"ltr"},{"type":"paragraph","text":"The TNFD disclosure recommendations are structured around four pillars, consistent with the Task Force on Climate-related Financial Disclosures (TCFD) and the International Sustainability Standards Board (ISSB), to ensure a comprehensive and unified approach to environmental sustainability and financial disclosure.","spans":[{"start":159,"end":210,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.ifrs.org/groups/international-sustainability-standards-board/","target":"_blank"}}],"direction":"ltr"},{"type":"paragraph","text":"1. Governance","spans":[{"start":0,"end":13,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"Governance lies at the heart of the TNFD Framework, emphasising the critical roles of both board oversight and management in evaluating and addressing nature-related issues.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"This includes a comprehensive approach to managing the organisation's impact on nature, adhering to human rights policies, and actively engaging with indigenous peoples and other stakeholders in local communities affected by nature-related activities.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"2. Strategy","spans":[{"start":0,"end":11,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"The Strategy pillar demands organisations to thoroughly examine the nature-related challenges they face across different time horizons—short, medium, and long term. It involves understanding how these challenges impact the business model, value chain, financial planning, and overall strategy.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Moreover, it assesses the resilience of the organisation’s strategy against identified nature-related issues, ensuring a sustainable approach to navigating future uncertainties.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"3. Risk & Impact Management","spans":[{"start":0,"end":27,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"This pillar focuses on the processes for identifying and managing nature-related risks and impacts, not just within direct operations but also throughout the upstream and downstream value chains.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"It underscores the importance of integrating these processes into the organisation's overarching risk management framework, thereby ensuring a comprehensive approach to environmental stewardship and sustainability.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"4. Metrics & Targets","spans":[{"start":3,"end":20,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"Lastly, the TNFD Framework advocates for the adoption of specific metrics and targets to assess and manage material nature-related issues effectively.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"This involves setting clear, measurable goals for managing the organisation's impact on nature and tracking performance against these targets, facilitating transparent reporting and continuous improvement in environmental performance.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"By integrating nature into strategic and capital allocation decision making, the TNFD Framework seeks to guide organisations and financial institutions towards a more sustainable and nature-positive future.","spans":[],"direction":"ltr"}],"showTopBorder":false,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$a6567864-7b1d-4098-b9de-898cf5fbb091","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[],"primary":{"quoteText":[{"type":"paragraph","text":"Embracing these four pillars allows businesses to not only manage their environmental footprint more effectively but also to uncover new opportunities for growth and innovation in a rapidly evolving global landscape.","spans":[],"direction":"ltr"}],"quoteAuthor":[],"image":{"dimensions":{"width":3992,"height":2992},"alt":"Arial view of a multiple highways intersecting across a parkland and cityscape.","copyright":null,"url":"https://images.prismic.io/edgeimpact/ZhiGVTjCgu4jzxTs_denys-nevozhai-7nrsVjvALnA-unsplash.jpg?auto=format,compress","id":"ZhiGVTjCgu4jzxTs","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"imagePosition":"Right"},"id":"article_quote_and_image$f08e6211-a509-43c9-ad10-7c5c170e2fb2","slice_type":"article_quote_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[],"primary":{"title":[],"text":[{"type":"heading3","text":"Is the TNFD Mandatory?","spans":[],"direction":"ltr"},{"type":"paragraph","text":"The TNFD Framework, much like its predecessors the TCFD and ISSB standards, is on a trajectory to be woven into domestic regulatory frameworks across the globe. Various governments have already expressed their support for the TNFD, indicating plans to embed its principles within their national regulatory systems.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"A prime example of this emerging trend is the UK Government's Green Finance Strategy, unveiled in March 2023. This strategy reaffirms the UK's dedication to the TNFD's objectives and explores the integration of the TNFD framework into the UK's policy and legislative framework, aligning with Target 15 of the Global Biodiversity Framework.","spans":[{"start":46,"end":84,"type":"hyperlink","data":{"link_type":"Web","url":"https://assets.publishing.service.gov.uk/media/643583fb877741001368d815/mobilising-green-investment-2023-green-finance-strategy.pdf","target":"_blank"}}],"direction":"ltr"},{"type":"paragraph","text":"At the regional level, the European Union has made strides by incorporating elements of the TNFD guidance into its regulatory reporting mandate, specifically through the Corporate Sustainability Reporting Directive (CSRD).","spans":[{"start":170,"end":221,"type":"hyperlink","data":{"link_type":"Web","url":"https://finance.ec.europa.eu/capital-markets-union-and-financial-markets/company-reporting-and-auditing/company-reporting/corporate-sustainability-reporting_en","target":"_blank"}}],"direction":"ltr"},{"type":"paragraph","text":"This directive mandates that entities falling under its scope must align their corporate disclosures with the European Sustainability Reporting Standards (ESRS), incorporating the TNFD's LEAP approach into several key areas of materiality assessments, including pollution, water and marine resources, biodiversity and ecosystems, as well as resource use and the circular economy.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"While the formal inclusion of TNFD reporting requirements into mandatory regulatory regimes is still in the works, the TNFD itself has committed to monitoring voluntary adoption by the market. Starting in 2024, an annual status update report will be published to track the progress of TNFD's voluntary integration, setting the stage for its eventual mandatory adoption in regulatory practices worldwide.","spans":[],"direction":"ltr"},{"type":"heading3","text":"Advantages and Disadvantages of Adopting the TNFD","spans":[],"direction":"ltr"},{"type":"paragraph","text":"While the Taskforce on Nature-related Financial Disclosures (TNFD) is currently a voluntary framework, companies are encouraged to weigh both the potential benefits and challenges associated with its adoption.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Here’s a closer look at the advantages and disadvantages that come with embracing the TNFD principles.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Advantages","spans":[{"start":0,"end":10,"type":"strong"}],"direction":"ltr"},{"type":"o-list-item","text":"Attract Investors: In today's market, there's a growing appetite among investors for companies that proactively manage their environmental impact. TNFD disclosures can serve as a testament to a company's commitment to sustainability, potentially drawing in more investment by showcasing forward-thinking environmental stewardship.","spans":[],"direction":"ltr"},{"type":"o-list-item","text":"Reduce Risk: Embracing TNFD allows companies to identify, assess, and mitigate climate-related risks early on. This proactive approach can enhance financial stability and safeguard against the operational and supply chain disruptions often precipitated by environmental challenges.","spans":[{"start":209,"end":221,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/sep","target":"_blank"}}],"direction":"ltr"},{"type":"o-list-item","text":"Future-Proof Business: With environmental regulations becoming increasingly stringent, the future is likely to mandate nature-related disclosures across the board. Early adopters of the TNFD framework will find themselves ahead of regulatory trends, ensuring a smoother transition to compliance and fostering a resilient business model in the face of evolving environmental legislation.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Disadvantages","spans":[{"start":0,"end":13,"type":"strong"}],"direction":"ltr"},{"type":"o-list-item","text":"Costs: Integrating TNFD recommendations into corporate strategies involves initial investments in robust data collection, thorough analysis, and comprehensive reporting infrastructures. These upfront costs are a crucial consideration for companies contemplating TNFD adoption.","spans":[],"direction":"ltr"},{"type":"o-list-item","text":"Greenwashing Risk: There's a legitimate concern that companies might lean towards TNFD reporting as a means of enhancing their environmental image without committing to meaningful action on nature conservation. It is imperative that firms approach TNFD adoption with the intent of genuine implementation, beyond just ticking boxes for compliance or public relations benefits.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Adopting the TNFD framework presents a strategic decision for companies, balancing the allure of long-term sustainability and investor appeal against the realities of initial costs and the imperative for authentic engagement with environmental challenges.","spans":[],"direction":"ltr"}],"showTopBorder":false,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$114db12a-f5c6-485c-9bf8-2ea3a5c7c7ee","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"quoteText":[{"type":"paragraph","text":"As the business landscape evolves towards greater transparency and accountability in environmental impact, the TNFD offers a path for companies to not only align with emerging global standards but also to actively contribute to a more sustainable and resilient future.","spans":[],"direction":"ltr"}],"quoteAuthor":[],"image":{"dimensions":{"width":6000,"height":3836},"alt":"A dense and lush green forest with small clouds floating across.","copyright":null,"url":"https://images.prismic.io/edgeimpact/ZhiG1jjCgu4jzxTu_ricardo-arce-G_02WDdVfF0-unsplash.jpg?auto=format,compress","id":"ZhiG1jjCgu4jzxTu","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"imagePosition":"Right"},"id":"article_quote_and_image$abfe223a-c043-4b14-b69f-c9a730a8b096","slice_type":"article_quote_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[],"text":[{"type":"heading2","text":"The LEAP Framework: Guiding Organisations in Nature Disclosures","spans":[{"start":0,"end":63,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"As new driving frameworks roll out in this space, there is no one-size-fits-all solution for companies. To address nature in a meaningful way, companies should come up with a strategy informed by the framework(s) relevant to their context.","spans":[{"start":175,"end":212,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/esgandstrategy","target":"_blank"}}],"direction":"ltr"},{"type":"paragraph","text":"The TNFD leverages the LEAP (Locate, Evaluate, Assess, Prepare) framework to guide nature-disclosures, sitting within the same TCFD disclosure requirements for an organisation to identify the governance, strategy, risk management and metrics and targets it will undertake to address the identified risks.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"","spans":[],"direction":"ltr"},{"type":"image","url":"https://images.prismic.io/edgeimpact/eda3797d-78e3-4d88-a5ed-190b814c077b_Picture+1.png?auto=compress,format","alt":"A table outlining the LEAP (Locate, Evaluate, Assess, Prepare) framework and the engagement with affected stakeholders","copyright":null,"dimensions":{"width":3599,"height":1995},"id":"ZQfishIAAB4AqNGI","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},{"type":"paragraph","text":"However, the LEAP framework concludes at prepare (for reporting); preparation should not be an end point, but rather the beginning of a broader nature journey. It is simply not enough to prepare to respond and report: companies must actually do something about their impacts on nature.","spans":[],"direction":"ltr"},{"type":"image","url":"https://images.prismic.io/edgeimpact/a33f0b1e-380f-45d7-8133-8751e609ec7f_Picture+2.png?auto=compress,format","alt":"Target setting through TNFD and SBTN aligned across 8 common outputs, table outlining the TNFD LEAP. the 8 common outputs and the SBTN 5-step approach.","copyright":null,"dimensions":{"width":2142,"height":682},"id":"ZQfiqxIAAB4AqNF-","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}}],"showTopBorder":false,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$23f60c1a-8897-4f3b-8d04-d6b05ac965a9","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[{"type":"heading2","text":"","spans":[]}],"text":[{"type":"paragraph","text":"At this point the TNFD recommends companies use the Science-Based Targets for Nature (SBTN) guidance for setting a target for their nature impacts. Despite published guidance, the interaction between these two leading frameworks is not particularly simple.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"","spans":[],"direction":"ltr"},{"type":"heading3","text":"Challenges and Opportunities in Combining TNFD and SBTN","spans":[],"direction":"ltr"},{"type":"paragraph","text":"There are eight common outputs, and at a first glance the frameworks may appear interchangeable. In practice though, relying on TNFD’s LEAP process and tacking on SBTN at the end may detract from SBTN's role of identifying material impacts upfront and acting where impacts can be most realised. This approach risks minimising the depth of materiality within the supply chain that SBTN aims to uncover.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Conversely, working solely to set an SBTN could potentially minimise an organisation’s ability to discover and disclose meaningful data which could be of value to many organisations and influential beyond.","spans":[],"direction":"ltr"},{"type":"heading3","text":"Tailoring the Approach to Each Organisation's Unique Context","spans":[],"direction":"ltr"},{"type":"paragraph","text":"The interaction between these two frameworks, and the relevance of each, will be different for each company. A large retailer with less direct dependencies and risks on nature may be better suited to the more detailed supply chain assessment that SBTN endorses, before proceeding to using the data and analytical outputs generated to apply parts of the TNFD’s LEAP approach for a nature-related risk and opportunity assessment.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"However, in the same position, a smaller corporate with specific goods may benefit from reporting their nature-related dependencies, impacts, risks and opportunities, and using these disclosures to then create a nature strategy with informed science-based targets.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Whether an organisation should align with TNFD or SBTN (or both) is not as simple as an either/or decision; each organisation’s experience of the interaction between the frameworks will be unique.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Ultimately, it is not about starting with the end-point framework for disclosing impacts and targets, but about creating a strategy to understand and address your organisation’s relationship with nature.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Taking this approach, starting with an overarching plan for how your organisation will approach nature, provides your organisation with the space to plan to do this properly – avoiding risks of greenwashing, greenhushing or greenrushing.","spans":[{"start":194,"end":237,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/greenwashing-handbook","target":"_blank"}}],"direction":"ltr"}],"showTopBorder":false,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$cb886c08-28bf-4f80-9eb5-9d0bd892d335","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"quoteText":[{"type":"paragraph","text":"Whether an organisation should align with TNFD or SBTN (or both) is not as simple as an either/or decision; each organisation’s experience of the interaction between the frameworks will be unique","spans":[],"direction":"ltr"}],"quoteAuthor":[],"image":{"dimensions":{"width":7360,"height":4912},"alt":"A factory with employees taking performing tasks and adopting the TNFD framework within their organisation.","copyright":null,"url":"https://images.prismic.io/edgeimpact/ZhiHPjjCgu4jzxTy_remy-gieling-qqtE2yX7POI-unsplash.jpg?auto=format,compress","id":"ZhiHPjjCgu4jzxTy","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"imagePosition":"Right"},"id":"article_quote_and_image$f2c51bc3-edf7-4941-ba63-1c18ddb84349","slice_type":"article_quote_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[],"text":[{"type":"heading2","text":"Edge Impact's Role in Your Journey Towards Nature Positivity","spans":[],"direction":"ltr"},{"type":"paragraph","text":"At Edge Impact, we offer an understanding of both of these frameworks, and are working with companies to create a tailored, specific nature strategy.","spans":[{"start":3,"end":15,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/","target":"_blank"}}],"direction":"ltr"},{"type":"paragraph","text":"We acknowledge that every organisation’s impacts, dependencies, goals, and capacity are different, and the real impacts will come from positioning your organisation beyond being committed to addressing nature, but addressing nature in your unique context.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"We appreciate that when talking about nature in the context of avoiding the climate crisis, time is not on our side. But we’ve only got one chance to set this global mindset up to succeed, and if we want to ensure nature efforts are taken seriously, we need to make sure each organisation is doing what’s within their specific capacity to act.","spans":[],"direction":"ltr"},{"type":"heading2","text":"Our Services","spans":[],"direction":"ltr"},{"type":"paragraph","text":"As experts in the full spectrum of sustainability topics, we are here to guide you through the complexity. Our team includes specialists from across the globe; from strategists to economists, engineers to creatives. Since 2008, we have been helping businesses, organisations, industries and societies make transformation happen.\n\nOur areas of expertise are focussed around the following areas:\n\nLeadership and Transformation\nESG and Strategy\nCircular Economy and Lifecycle Thinking\nProcurement and Supply Chain\nBuilt Environment\nNature and Biodiversity\nBrand, Communications and Creative","spans":[{"start":395,"end":587,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/","target":"_blank"}}],"direction":"ltr"},{"type":"heading2","text":"Key Takeaway","spans":[],"direction":"ltr"},{"type":"paragraph","text":"As new driving frameworks roll out in this space, there is no one-size-fits-all solution for companies. To address nature in a meaningful way, companies should come up with a strategy informed by the framework(s) relevant to their context.","spans":[],"direction":"ltr"}],"showTopBorder":true,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$efff9775-edef-4bda-a90c-7930adc3ac08","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"text":[{"type":"paragraph","text":"Please get in touch and learn how we at Edge Impact can help your company implement these frameworks, and work together towards nature positive","spans":[{"start":7,"end":19,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/contact","target":"_blank"}}],"direction":"ltr"}],"bgColor":"Mineral","alignment":"Center","fontSize":"Small","fontWeight":"Heavy"},"id":"text_panel$6ed2f7eb-c8e1-45b9-aec1-fd18917e0997","slice_type":"text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{"customTag":null}],"primary":{"showTags":false,"showShareLinks":true,"shareLabel":"Share this"},"id":"article_tags_and_share_links$af0ffe53-0e99-4a58-9d7d-a087fa8c479a","slice_type":"article_tags_and_share_links","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[],"primary":{"ctaLabel":"Read more","blurbWordLimit":20,"isDynamicContent":false},"id":"related_content_list$29fcefc5-081e-4c8e-84bd-95b67cf8d641","slice_type":"related_content_list","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"newsletterTitle":"Newsletter","newsletterDescription":[{"type":"paragraph","text":"Be first to get our ideas, invites and breakthroughs.
Join the list with your name and email.","spans":[],"direction":"ltr"}],"signUpBtnLabel":"Sign Up","hideCareersSection":true,"careersTitle":null,"careersDescription":[],"careersCTALink":{"link_type":"Any"},"careersCTALabel":null,"image":{"dimensions":{"width":1920,"height":1350},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/e117ad8d-da0f-4285-a5d5-3331309066cf_Edge_Round-FA02_BG_Shot06.png?auto=compress,format","id":"ZDiQ3hAAACAAgq39","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"successText":[]},"id":"newsletter_panel$816e74e0-e33b-4338-aa87-9238de152721","slice_type":"newsletter_panel","slice_label":null}],"title":"TNFD is here: What Does It Mean for Your Business & How to Get Started","date":"12 Apr, 2024"},"link_type":"Document","key":"7b9d16a0-f222-4ce7-8a13-b0c6776bb422","isBroken":false}},{"contentItem":{"id":"ZX-DIhAAAAaBHPoR","type":"article","tags":[],"lang":"en-au","slug":"-","first_publication_date":"2023-12-18T00:18:16+0000","last_publication_date":"2024-04-16T06:05:24+0000","uid":"navigating-climate-governance","data":{"readingTime":"8 min. read","uid":"navigating-climate-governance","slices":[{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"article":{"link_type":"Document"},"title":[{"type":"heading1","text":"Navigating Climate Governance: Board Members","spans":[],"direction":"ltr"}],"subtitle":[{"type":"paragraph","text":"Written by \nMark Siebentritt, Executive Director","spans":[],"direction":"ltr"}],"blurb":[{"type":"paragraph","text":"","spans":[]}],"image":{"dimensions":{"width":2160,"height":2160},"alt":"Professional men and women engaged in a business meeting around a conference table","copyright":null,"url":"https://images.prismic.io/edgeimpact/657fe0ce531ac2845a26a261_InsightArticleImage.png?auto=format,compress","id":"ZX_gzlMawoRaJqJh","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"layoutType":"Aligned Bottom","blurbWordLimit":null,"ctaLabel":null},"id":"article_title$443bd272-8c2c-4ff5-83b6-deb173cbb714","slice_type":"article_title","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{"customTag":"Climate Governance"},{"customTag":"Climate Risk"},{"customTag":"Corporate Governance"},{"customTag":"Climate Disclosure Reporting"}],"primary":{"showTags":false,"showShareLinks":false,"shareLabel":null},"id":"article_tags_and_share_links$d1416aee-4c9e-4183-ab7d-23fd1002dea3","slice_type":"article_tags_and_share_links","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[{"type":"heading2","text":"In the fast-evolving landscape of corporate governance, directors are tasked with safeguarding the best interests of their businesses. ","spans":[],"direction":"ltr"}],"text":[{"type":"paragraph","text":"While this responsibility has been a constant, the emergence of climate change as a critical factor requires directors to tread new ground. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"With 20 years of experience in public and private sector governance, including 15 years dedicated to delivering climate risk processes, I believe that there are crucial aspects of climate governance that every board member should be well-versed in. ","spans":[],"direction":"ltr"}],"showTopBorder":false,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$a6567864-7b1d-4098-b9de-898cf5fbb091","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[],"primary":{"quoteText":[{"type":"paragraph","text":"Whether through the identification of specialised expertise or upskilling for all directors, the need for climate governance proficiency is undeniable and has been emphasised by professional bodies such as the AICD.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"","spans":[],"direction":"ltr"},{"type":"paragraph","text":"","spans":[],"direction":"ltr"}],"quoteAuthor":[{"type":"paragraph","text":"Mark Siebentritt, Executive Director","spans":[],"direction":"ltr"}],"image":{"dimensions":{"width":4480,"height":6720},"alt":"Mark Siebentritt, Edge Impact's Executive Director","copyright":null,"url":"https://images.prismic.io/edgeimpact/657fd2e6531ac2845a269e90_MarkSiebentritt_12.jpg?auto=format,compress","id":"ZX_S5lMawoRaJp6Q","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"imagePosition":"Right"},"id":"article_quote_and_image$cf088704-ccb5-43b8-962a-d204edbb0ce1","slice_type":"article_quote_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[{"type":"heading2","text":"Understanding Climate Risk: More than Just a Coin Toss","spans":[],"direction":"ltr"}],"text":[{"type":"paragraph","text":"Climate risk, akin to regular risk, has two main forms: physical risk and transition risk. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"The former encompasses the risks associated with a changing climate, including heatwaves, floods, and bushfires. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"On the flip side, transition risk involves the challenges of moving toward a low-carbon economy. Directors must comprehend the nuances of both and assess their organisation's vulnerability. Despite their distinctiveness, these risks inevitably trickle down to impact strategic, financial, and operational aspects.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Timeframes and Decision Lifetimes: Deciphering the Puzzle","spans":[{"start":0,"end":57,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"The timelines for climate risk assessment and response planning differ significantly from traditional business planning. Physical risks unfold over decades, presenting a unique challenge for directors.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"When to act?","spans":[{"start":0,"end":12,"type":"em"}],"direction":"ltr"},{"type":"paragraph","text":"The decision lifetimes approach becomes a valuable tool, acknowledging that decisions made today have varying spans. Directors must consider the longevity of decisions, from the choice of electrical equipment in a tolling booth to the construction of bridges on a highway, with the latter spanning 80-100 years. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"This perspective guides the incorporation of long-term climate change into current decision-making processes.","spans":[],"direction":"ltr"}],"showTopBorder":true,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$efff9775-edef-4bda-a90c-7930adc3ac08","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"text":[{"type":"paragraph","text":"We have released a Discussion Paper titled, 'How to Thrive in the New Era of ESG Disclosure\" to help organisations understand and navigate the complexities of the future ESG disclosure landscape. Download it here.","spans":[{"start":196,"end":213,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/esg-disclosure-handbook","target":"_self"}}],"direction":"ltr"}],"bgColor":"Mineral","alignment":"Center","fontSize":"Small","fontWeight":"Heavy"},"id":"text_panel$8f3142fd-d522-4e5a-b4b7-5a005d01e20c","slice_type":"text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"quoteText":[{"type":"paragraph","text":"Living with uncertainty is a fundamental aspect of climate governance. The ever-changing landscape of future climate conditions, influenced by global emissions reduction policies and unpredictable climate responses to greenhouse gases, demands a proactive approach.","spans":[],"direction":"ltr"}],"quoteAuthor":[],"image":{"dimensions":{"width":1320,"height":879},"alt":"Forest fire emitting smoke against a hazy sky, depicting environmental crisis and natural disaster","copyright":null,"url":"https://images.prismic.io/edgeimpact/657f87be531ac2845a269e37_64fd650d-7ece-4ea0-9da1-e9cb0315e213.jpg?auto=format,compress","id":"ZX-HvlMawoRaJp43","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"imagePosition":"Right"},"id":"article_quote_and_image$9eaaa3d0-dfe8-4c87-b3ec-c0a1f34f5282","slice_type":"article_quote_and_image","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"title":[],"text":[{"type":"paragraph","text":"Embracing Uncertainty: The Role of Scenarios","spans":[{"start":0,"end":44,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"Directors can embrace uncertainty through scenario thinking, a core element of climate disclosure strategies outlined in TCFD requirements. Familiarising themselves with multiple scenarios enables directors to navigate the unpredictable nature of climate change with resilience.","spans":[{"start":121,"end":125,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.fsb-tcfd.org/","target":"_self"}}],"direction":"ltr"},{"type":"paragraph","text":"Building the Evidence Base: An Iterative Approach","spans":[{"start":0,"end":49,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"For businesses embarking on their climate risk journey, there is no one-size-fits-all formula to precisely gauge the financial impact of future risks. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"An iterative approach involving risk screening, enterprise-level risk assessment, and the development of specific financial impact models is essential. Drawing from past and current hazards, such as floods and heatwaves, provides valuable data to build a robust evidence base over time.","spans":[],"direction":"ltr"},{"type":"paragraph","text":"Aligning with ISO31000: Recognising the Differences ","spans":[{"start":0,"end":52,"type":"strong"}],"direction":"ltr"},{"type":"paragraph","text":"While aligning climate risk assessments with ISO31000 is considered a leading practice, directors must recognise the subtle yet crucial distinctions. Adaptation measures, aimed at reducing climate risk vulnerability, take center stage in climate risk assessment. ","spans":[{"start":45,"end":53,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.iso.org/iso-31000-risk-management.html/","target":"_self"}}],"direction":"ltr"},{"type":"paragraph","text":"Unlike traditional risk assessment, which considers only current conditions, climate risk assessment prompts directors to evaluate risk changes over multiple decades. ","spans":[],"direction":"ltr"},{"type":"paragraph","text":"As we collectively address the challenges of climate change, informed and proactive governance will be the key to success. Read more about our climate change services here.","spans":[{"start":0,"end":143,"type":"em"},{"start":143,"end":172,"type":"em"},{"start":143,"end":172,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/decarbonisationclimateresilience","target":"_self"}}],"direction":"ltr"}],"showTopBorder":false,"showBottomBorder":false,"largeTextMode":false},"id":"article_text_panel$139dd209-14da-4188-85b5-a7d515451e8e","slice_type":"article_text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"text":[{"type":"paragraph","text":"Learn how to Thrive in the New Era of ESG Disclosure with our latest Discussion Paper. Read it here.","spans":[{"start":95,"end":99,"type":"hyperlink","data":{"link_type":"Web","url":"https://www.edgeimpact.global/esg-disclosure-handbook","target":"_blank"}}],"direction":"ltr"}],"bgColor":"Mineral","alignment":"Center","fontSize":"Small","fontWeight":"Heavy"},"id":"text_panel$f01a1cd8-6304-469e-ab59-f72683e4e879","slice_type":"text_panel","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{"contentItem":{"id":"ZX-YvhAAADGEHVpo","type":"article","tags":[],"lang":"en-au","slug":"-","first_publication_date":"2023-12-18T01:22:05+0000","last_publication_date":"2024-03-08T06:21:25+0000","uid":"metrics-that-matter-guiding-climate-action","link_type":"Document","key":"7bae26e7-fc29-48bf-8523-afcfed28dd5e","isBroken":false}},{"contentItem":{"id":"ZQfbThIAACMAqMal","type":"article","tags":[],"lang":"en-au","slug":"tnfd-is-here-what-does-it-mean-for-your-business--how-to-get-started","first_publication_date":"2023-09-18T05:30:54+0000","last_publication_date":"2024-08-26T13:06:55+0000","uid":"tnfd-is-here","link_type":"Document","key":"44925893-d5cb-4376-b85d-c93cd93f4768","isBroken":false}},{"contentItem":{"id":"ZVLAABEAACQAf73D","type":"article","tags":[],"lang":"en-au","slug":"-","first_publication_date":"2023-11-14T01:11:16+0000","last_publication_date":"2023-11-28T02:12:19+0000","uid":"circular-economy-how-to-measure-circularity","link_type":"Document","key":"93b5ac23-082b-4314-84d8-5790c2008082","isBroken":false}}],"primary":{"ctaLabel":"Read more","blurbWordLimit":20,"isDynamicContent":false},"id":"related_content_list$29fcefc5-081e-4c8e-84bd-95b67cf8d641","slice_type":"related_content_list","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"newsletterTitle":"Newsletter","newsletterDescription":[{"type":"paragraph","text":"Be first to get our ideas, invites and breakthroughs.
Join the list with your name and email.","spans":[]}],"signUpBtnLabel":"Sign Up","hideCareersSection":false,"careersTitle":"Careers at Edge","careersDescription":[{"type":"paragraph","text":"We have a number of exciting projects in the works and are rapidly expanding our team of consultants. Below are our latest job openings across our global offices. ","spans":[]}],"careersCTALink":{"link_type":"Web","key":"093b3a9b-0b45-4e85-a58a-53efea845980","url":"https://edge.teamtailor.com/"},"careersCTALabel":"Careers Page","image":{"dimensions":{"width":1920,"height":1350},"alt":null,"copyright":null,"url":"https://images.prismic.io/edgeimpact/8f57f643-bfb3-4d51-b7ad-7be2606fa9c5_Edge_Round-FA02_BG_Shot06.png?auto=compress,format","id":"ZOMZsxAAACIAw0Zd","edit":{"x":0,"y":0,"zoom":1,"background":"transparent"}},"successText":[{"type":"paragraph","text":"Thanks for signing up! ","spans":[]}]},"id":"newsletter_panel$d8298fce-a3b7-44b7-86a4-61b85610e840","slice_type":"newsletter_panel","slice_label":null}],"title":"Navigating Climate Governance: Board Members","date":"18 December 2023"},"link_type":"Document","key":"f184bbe5-2e3c-477a-9cd5-471a5a983203","isBroken":false}}],"primary":{"ctaLabel":"Read more","blurbWordLimit":20,"isDynamicContent":false},"id":"related_content_list$29fcefc5-081e-4c8e-84bd-95b67cf8d641","slice_type":"related_content_list","slice_label":null},{"variation":"default","version":"sktwi1xtmkfgx8626","items":[{}],"primary":{"newsletterTitle":"Newsletter","newsletterDescription":[{"type":"paragraph","text":"Be first to get our ideas, invites and breakthroughs.
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