With climate change, resource depletion, and biodiversity loss on the rise, businesses are recognising the imperative to adopt sustainable practices. In this blog, we’ll explore the key sustainability focuses shaping the landscape in 2024, paving the way for a more environmentally conscious and resilient future.
1. Waste: greater efficiency
In 2024, a new waste regulation will be in place to help tackle some of the inefficiencies in wastage. Extended Producer Responsibility (EPR) is kicking in, requiring the measurement of packaging usage, leading to additional fees for non-recyclable choices. This regulation is built on the current Plastic Packaging Tax and wider initiatives banning single-use plastic for organisations such as restaurants.
Keeping on top of this new regulation will help you avoid potentially heavy fines in 2024.
2. Navigating challenges and opportunities in fleet electrification
Fleet travel takes up a sizeable chunk of most organisation’s carbon footprint. Unfortunately, mandatory fleet electrification (a vital element of any net zero project) may start slowing down in 2024.
In September 2023, the UK government made a significant alteration to a cornerstone climate change policy: a U-turn changing the ban on the production of diesel and petrol cars from 2030 to 2035. Unsurprisingly, this 5-year delay can have ramifications for an industry already at a crossroads, especially in 2024.
But are we on target for 2035? According to BBC News, September 2023 showed the 14th consecutive month of growth in electric car sales to private owners, with growth entirely driven by company fleet buyers renewing their stock. Overall registrations of electric cars rose almost 19% in September 2023 compared with the same period the previous year.
With electric cars attracting a much lower tax bill than petrol or diesel vehicles, it is expected that this growth will continue. After electric car sales exceeded 10 million in 2022, the industry has a strong foundation for growth moving into 2024.
3. The dawn of combined heat and power technology
Combined Heat and Power (CHP) is looking to take 2024 by storm. Accessing and using renewable energy is a vital first step on the path to sustainability for many businesses. CHP technology produces electricity and thermal energy with particularly high efficiency. The technology is already used in over 4,700 facilities and we see this upward trend reaching over the pond in 2024.
4. The Energy Savings Opportunity Scheme (ESOS)
2024 will also welcome another emissions deadline for bigger companies in the UK. The Energy Savings Opportunity Scheme is an energy-saving mandate that audits energy usage for large UK organisations.
The auditing cycle ordinarily operates on a 4-year basis, but the phase 3 deadline was extended by the government to the 5th of June 2024. With that date in mind, companies that fit the criteria must deliver their audits by the set deadline or incur penalties. The ultimate goal of ESOS is to practically and efficiently lower energy consumption.
5. The rise of net zero policy & regulation
When it comes to measuring emissions, Scope 3 (which covers a broader range of indirect emissions) is imperative. Although Scope 3 emissions can make up to 90% of an organisation’s carbon footprint, it can often be ignored because of their complexities. But this is essential to establish a complete baseline carbon footprint and set credible, realistic but ambitious climate-aligned net zero targets, consistent with achieving goals set out in the Paris Agreement.
From a regulatory perspective, the EU’s CSRD is already requiring elements of Scope 3 measurement and disclosure, while the UK Government has launched a public consultation on whether SECR should be expanded to require Scope 3 measurement, due to end in December.
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From the rise of net zero policies to a heightened focus on supply chain emissions and greater waste efficiency, businesses must stay on top of the latest news to stay ahead of the curve in this swiftly evolving landscape.
Don’t miss the opportunity to shape your business strategy for the year ahead! Download our free “Key environmental focuses shaping businesses in 2024” report today.
