Ten-year emissions reduction plans have been developed into abatement curves and waterfall charts, with aspirations transformed into high-level roadmaps and communicated with stakeholders — giving everyone a sense of comfort that there is a clear pathway to action and decarbonisation.
However, the unfortunate reality is that decarbonisation could be happening much faster than this. We frequently hear that annual capital allocation processes favour highly attractive growth projects, which seem to squeeze out and defer decarbonisation projects to next year. At the same time, projects that are approved often become mired in slow-moving approval processes, resulting in limited to no progress on the decarbonisation scorecard.
In our experience, breaking through standard processes to accelerate decarbonisation and capture its vast potential value, takes five results-focused steps.