Use third party assessment to improve your actions plan

Cost
LOW
Cost
MEDIUM
Cost
HIGH
EFFORT
low
EFFORT
medium
EFFORT
HIGH
IMPACT
low
IMPACT
MEDIUM
IMPACT
HIGH

To go further, companies can choose to disclose and be certified to help improve and better communicate their net-zero strategy. The certification process by an external third party is a key step in aligning with net zero goals. The company will gain insight into best practices and opportunities which can also help overcome the difficulties it faces.

You can demonstrate leadership by promoting your achievements and sharing your challenges both internally and externally. It can also help you meet tax, regulatory and supply chain requirements.

Here are some examples of disclosure / certification programmes you can start looking at:

- LowCarbonSG is a capacity-building programme to enable local companies in Singapore to start monitoring and, where possible, reducing their carbon emissions. Companies that successfully measure and monitor their carbon footprint will be awarded a LowCarbonSG Participant Logo. LowCarbonSG is led by the Carbon Pricing Leadership Coalition (CPLC) Singapore, the decarbonisation arm of the Global Compact Network Singapore (GCNS), and supported by the National Environment Agency (NEA) and Enterprise Singapore (ESG). By participating in the programme, companies can access carbon management resources such as tools, workshops or information on government grants to facilitate the adoption of sustainable solutions, receive guidance on emissions reduction and gain recognition.

- The Climate Disclosure Project (CDP) helps thousands of companies, cities, states and regions measure and manage their risks and opportunities related to climate change, water security and deforestation and, on behalf of over 590 institutional investor signatories, requests information from the world's largest companies on climate risks and low-carbon opportunities. In addition to meeting the demands of your investors and customers, reporting your environmental data through CDP enables you to protect and enhance your corporate reputation, increase your competitive advantage, uncover risks and opportunities, and track and benchmark progress. In a world where mandatory disclosure is gaining momentum, reporting through CDP also helps companies stay ahead of regulation. CDP also claims to be fully aligned with the recommendations of the TCFD.

- The Science Based Targets Initiative (SBTi). You can also submit your carbon targets for validation to SBTi. SBTi technical experts will review your submission, validate it against their science-based criteria and communicate their decision with detailed feedback that can be used to deepen your company's carbon strategy. Published in October 2021, the SBTi Net-Zero Standard is the world's first framework for corporate net-zero goals that are consistent with limiting global temperature rise to 1.5°C, and requires the setting of both short-term (5-10 years) and long-term (to 2050 or earlier) science-based targets. They also define a specific pathway for SMEs, recognising that setting a near-term GHG reduction target for your own operations (scope 1 and 2) is the easiest target for the majority of smaller companies to achieve. A commitment that your organisation can achieve means much more than an uncertain longer-term target covering the entire value chain.

70%

of GHG emissions are caused by business
(CDP)

5,172 companies

have taken action under SBTi standards
(SBTi - May 2023)

ADDITIONAL RESOURCES