Financial services provider Nedbank launched the second edition of its Carbon Footprinting Guide earlier this month, which is aimed at demystifying carbon footprint approaches and helps readers grasp the main concepts of carbon measuring, monitoring, reporting and verification.

It also explains the nuances of carbon calculations using step-by-step examples.

The guide comprises case studies that critically evaluate the different approaches followed by South African companies with regard to greenhouse-gas (GHG) emissions reporting and strategic actions taken to reduce such emissions.

The 2014 version had more than 50 000 downloads and Nedbank expects that the latest version, with the updated tables and values, will be just as helpful to users. The guide assists readers in being better equipped to reduce operational expenditure associated with the use of energy and better geared for the looming domestic and international financial penalties that would be associated with GHG pollution.

It also assists readers in making informed operational choices and to thinking strategically about developing products and services for an increasingly complex world with environmental limitations.

According to the guide, climate change is a challenge that requires urgent and extensive action on the part of governments, business and citizens – if the risk of serious damage to global prosperity and security is to be avoided.

It highlights that climate change poses both risks and opportunities for all parts of the business sector. Banks, in particular, have a crucial role to play in enabling the transition from a carbon-intensive economy to more efficient low-carbon alternatives.

Speaking at a carbon roundtable hosted by Nedbank earlier this month, Nedbank head of sustainability Brigitte Burnett noted that GHG emissions were in the spotlight again as the world prepared for the next Conference of the Parties, or COP 21, taking place in Paris, France, from November 30 to December 11.
She pointed out that South Africa was the largest carbon dioxide emitter on the African continent.

“Business needs to play a more proactive role to combat climate change and shift to a resilient low-carbon economy and society. Sustainability is essential and, if managed properly, helps identify new markets and business growth,” she said.

She noted that Nedbank’s journey to carbon neutrality began with a “reduce first and offset later” approach and that neutrality had been maintained through offsetting the residual footprint through the sourcing of carbon credits from local projects, where possible.

“From an operational point of view, we were managing our energy and water efficiency well. However, we felt that the biggest impact we could have was through our lending. So we developed the long-term goals that describe a thriving South Africa by 2030.”