Accelerate Business Pact FAQ

Can any business in Ireland join? 

Any existing member of BITCI can join.  

How can we sign? 

The Pact which must be signed by the company CEO can be downloaded here. Once signed it should be returned to environment@bitc.ie 

Can we sign as [company country] or must [company global] sign? 

Either will be accepted. However please note that Science Based Target Initiative (SBTi) generally requires that the global entity make commitments via the SBTi platform. 

Will there be a prescribed template for the Climate Transition Plan? 

There will not be a prescribed template for a Climate Transition Plan, beyond the suggestion that it include sections on the nine Accelerate Areas: Nature, Scope 3, Just Transition, Targets, Decarbonisation, Finance, Governance, Risk, and Advocacy. However, resources including sample templates will be provided and signatories may choose whether to use them. 

What does a high-quality climate transition plan look like? 

Please refer to: CDP Insight Note on Climate Transition Plans and CDP Climate Transition Plans Technical Note (section 5.5). 

What are the anticipated resources needed to develop a Climate Transition Plan?  

We advise that signatories have board level oversight of its Climate Transition Plan with defined governance mechanisms in place to ensure delivery of the plan. 

We also advise that signatories have structures in place that bring together and incentivise units – the financial team, government and investor relations, research & development, and procurement & supply chain relations, facilities etc. to address and act on your company’s climate goals and plan. 

Please refer to: We Mean Business Coalition Climate Transition Plan Guidance   

Should we have a separate Nature plan to our Climate Transition Plan?   

We advise that nature is included in your Climate Transition Plan given the capacity of nature-based solutions to act as a sink for greenhouse gas emissions. The scope of Nature within a signatory’s Climate Transition Plan will depend on the materiality of the topic to the business.  

What happens if we don’t develop a Climate Transition Plan by the year we choose in our self-assessment? 

We will work with all signatories to assist them in reaching their goals, and extensions will be provided on a discretionary basis. Should an extension request be rejected, your business will be required to exit the Pact until it develops its Climate Transition Plan, and your exit will be communicated to the Accelerate Steering Committee and members. 

How will our Climate Transition Plan be scored so that we can be benchmarked against our peers? 

Throughout Year 1 we will be working with a knowledge partner to develop the exact scoring methodology for launch in Year 2. For the partner to be able to gather data on your Climate Transition Plan, your Plan must be publicly disclosed on your company website, relevant report or available through a yearly Carbon Disclosure Project submission. If not available, the data will not be captured in the index, and this will be reflected in your company’s score. The alternative to this is to use a lengthy survey which risks duplication of efforts on the part of your company, 87% of this year’s Low Carbon Pledge signatories indicated they are in favour of a streamlined disclosure process. 

We have not set science-based targets yet. Can we still sign? 

Yes, you can still sign the Pact. However, your company must embark on a trajectory towards committing to Net Zero by 2050, if currently possible to do so under SBTI guidelines. Please see decision tree. 

We already have near-term targets – how do we set a Net Zero by 2050 target? 

Please review the near-term criteria outlined on page 7 on SBTi’s ‘Getting Started Guide’ to see if your current near-term science-based targets are aligned with the latest Corporate Near-term Criteria. If you wish to commit to net-zero, and your current near-term science-based target does not meet the latest Corporate Near-term Criteria, please complete the Corporate Target Submission Form for a near-term target update. Then, go to page 8 and 9 in the Guide for more information on how to model long-term science-based targets. 

Do we need to set a net-zero target? 

Yes, your company will be required to set a net-zero by 2050 target if there is current guidance for your sector from the SBTi.  

We want to set a Net Zero target but haven’t yet set near-term targets. 

Near-term targets must be validated before a Net Zero target can be validated. 

We have triggered a requirement to recalculate and submit our near-term science based target. Will we need to pay to submit these and our Net Zero target? 

SBTi notes that companies are eligible to resubmit near-term targets as part of a net-zero package submission. Navigate to page 7 of SBTi’s Getting Started Guide. 

What happens if we don’t set a Net Zero by 2050 target by the year we choose in our self-assessment? 

We will work with all signatories to assist them in reaching their goals, and extensions will be provided on a discretionary basis. Should an extension request be rejected, your business will be required to exit the Pact until it sets its Net Zero target, and your exit will be communicated to the Accelerate Steering Committee and members. 

I am an existing BITCI member; how many advisory days will my membership of Accelerate require? 

At present Accelerate will not take more than 3 days, the same as the Elevate Pledge and the same as the previous environmental service offering, the Low Carbon Pledge. This may change and if it does this will be communicated to all signatories. 

Does Accelerate support Business Working Responsibly Mark certification/recertification? 

The Business Working Responsibly Mark (‘the Mark’) is fully aligned to Accelerate, and signatories of Accelerate that self-assess at a Level 2: Explorer and higher have the benefit of bridging certain aspects of the Mark’s Environmental Pillar when certifying or recertifying. For higher levels of categorisation, more of the Mark Standard can be bridged. As the Mark is a guided audit process, additional supports will be available during certification/recertification for companies in creating or improving their Climate Transition Plan. Additionally, the Mark certification/recertification process will ensure that evaluation and improvement mechanisms are in place to assess the effectiveness of the Climate Transition Plan and progress towards science based targets. For more Information on the Mark, see our website here. 

What resources will be available? 

Signatories will receive high-quality guidance documents on topics of common concern throughout the lifetime of the Pact. Knowledge Sessions will be recorded where appropriate and circulated to Pact signatories. A database of impactful Accelerator Actions for each of the nine Accelerator Areas, and disaggregated by sector where appropriate, will be developed.  

What does “engage with the Community of Practice” entail? 

Attending some or all of the online Knowledge Sessions; attending some or all of the online Peer Circles; attending Member Network events; contributing to the qualitative survey on challenges and opportunities for net-zero nature-positive business action (Insights Paper). 

Do we have to do a survey/report? 

There will be a short annual qualitative survey circulated to all Pact signatories, the purpose of which is to harvest data regarding the challenges and opportunities your business is facing as it attempts to move towards net-zero nature-positive action. The findings from this survey will be collated into a concise Insights Paper, the audience of which is government and business, and which will be launched annually. 

Will there be a workshop on this? 

In November 2024 we will be running three 45-minute Q&A Clinics where those interested in signing can attend and ask questions. Details and links to register will be sent to all Coordinators and those involved with the previous iteration of the Low Carbon Pledge. 

A comprehensive explanatory document has been developed and can be found in the Accelerate section of our website. 

When will the aggregate report and Insights Paper be publicised? 

Given Financial Year end differs company to company, it is impossible to design a report launch that aligns perfectly with all FY end. Data collection will take place in Q3 and report publication will be Q4.