WHAT WE DO

FAQ's

 

Our interactions with clients have provided us with a unique experience in dealing with the challenges of trading in a carbon and resource constrained world. These challenges include:

 

1. Fear of High Transition Costs: Organisations can feel deterred thinking that transitioning to sustainable practices and renewable energy sources requires significant financial investment. Using our carbon accounting tools we show organisations how to develop a return-on-investment business case regime highlighting the costs of these types of investments are invariably not capital hurdles, but capital opportunities. This is the good news about carbon transition.

2. Technological Limitations: Lack of access to advanced technology for carbon accounting and emissions reduction strategies can hinder progress, particularly for companies operating in less developed regions. Our expertise lies in merging robust financial accounting and risk management practices with effective carbon management and sustainability systems.

3. Lack of Clarity on Processes: Organisations and workers may struggle to understand the specific steps and actions required to achieve net zero targets, leading to uncertainty and inertia. Eco Profit is aware of this and pays special attention to guiding staff through the processes.

4. Complexity of Measurement: Quantifying emissions across scope 1, 2, and especially scope 3 can be challenging due to data availability and consistency issues. We use Input/Output environmental extended factors aligned to industry class codes to evaluate scope 3 emissions, followed up with supplier/customer engagement to ensure higher data accuracy, mitigation of scope 3 emissions and optimisation of supply chain efficiency.

5. Complex Financial Disclosure and Sustainability Rules: New regulations and reporting standards, such as ISSB and ASRS, can be intricate and challenging to comprehend, resulting in confusion and potential non-compliance. Our processes ensure our clients meet requirements through the four pillars of governance, strategy, risk & management and metrics & targets.

6. Risk Management: Identifying and mitigating climate-related risks, such as extreme weather events or regulatory changes, requires robust risk management frameworks that many organisations may not have in place. Eco Profit has the processes to identify, assess and control climate related risks whether they be physical or transition risks. It also includes developing scenario analysis processes.

7. Limited Organisational Support: Not all employees, as well as CEOs and board members, may fully endorse or understand the importance of carbon reduction and sustainability initiatives, hindering progress towards net zero goals. Eco Profit knows that without holistic organisational support, progress will be slow and stilted. We move actively at the beginning of our interaction with clients to bring all stakeholders together in an all hands to the oars approach.

8. Risk of Greenwashing: There is an ever-increasing risk that organisations may engage in greenwashing, undermining genuine efforts towards achieving net zero and eroding trust among stakeholders. To avoid or defend this type of unfortunate situation, Eco Profit promotes strategic planning focused on correct carbon inventory calculation, timely carbon reduction measures and a carbon offset acquisition/development plans.