What is a climate strategy?
Integrating climate action into your strategy means creating a comprehensive plan for reducing greenhouse gas (GHG) emissions. In your plan, take metrics on current emissions and set timebound goals for cutting them.
Your climate strategy will also look at risks and opportunities. Do you face regulations? Will key stakeholders push to go faster or resist? Can you access new markets thanks to this new strategy? You will answer these questions when you make an action plan for achieving your targets.
The benefits of strategic thinking
We’re heading towards a low-carbon economy, and it’s better to start now than play catch up later. Planning is part of risk management. It allows you to stay on top of new regulations in your industry and what your competitors are doing.
It also lets you coordinate climate goals with the other priorities, such as reducing costs, managing assets or hiring new people. Thinking strategically means that you won’t neglect what’s good for the planet when you’re focused on running your business.
Positive impact on your business
Employer brand
Demonstrate your leadership by making emissions reduction a priority in your business plan.
Risk management
Prevent or reduce regulatory, physical and transition risks to help your business in the long term.
Access to new markets
Working on your climate journey could open up access to new markets and integrate your business into green supply chains.
Roadmap to building a climate strategy
Resources
Find funding for your climate actions
Over 60 governmental active grants, tax credits and loan programs to support the environmental initiatives of Canadian businesses.
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CRA Canada: Sustainability is good business
Explore resources from CRA Canada to discover how organizations focusing on sustainability can successfully balance bottom-line results with other key factors, including impacts on society and the environment.
Business Council of Canada: Climate change and clean growth
The Clean Growth reports provide both analysis and practical recommendations on climate solutions.