Sustainability solutions advisory company ENGIE Impact has found there’s progress on the road to decarbonisation but still a way to go.
Its report, titled “Six Actions to Accelerate Decarbonisation” was with more than 500 senior executives from large global companies employing more than 10,000 people from a range of industries, such as automotive, technology, retail, mining, industrial manufacturing, healthcare, real estate and food and beverage.
The report found that 37 per cent of Australian businesses surveyed have committed to a net zero science-based target for reducing emissions throughout their value chain, with cost savings named the main driver for decarbonisation goals and strategies.
Unfortunately, only 19 per cent feel that their sustainability programs are meeting or exceeding set objectives, with the spanner in the works for many Australian organisations being regulatory hurdles, stakeholder engagement issues, financial constraints and organisational unpreparedness.
New opportunities for budding entrepreneurs
Curtin University’s Accelerate program has been revamped, and is now offering participants the chance to turn their product or service into a successful business. Open to alumni, current students and staff, it offers an opportunity to sharpen entrepreneurial skills by transforming ideas into a tangible business.
One of the projects that is being supported by this initiative is a device that can detect water leaks in households.The founder of Wata Watcha Tamara Berryman said that nearly 60 per cent of Australians have, or know someone who has experienced water damage, which is more common and costly than fire or burglary. “It occurred to me, that if we have security systems and smoke detectors, why don’t we have something to detect water leaks?”
Another innovation in the program is Procuracon founded by Cuong Ly and Andrew McColgan – for an app that improves the procurement process for construction, making it easier to find suitably qualified suppliers.
The program is spearheaded by Dr Geremy Farr-Wharton, Curtin Entrepreneurship Programs Manager, who is an expert in consumer behavior, information design, and ecological sustainability. And participants have access to Curtin’s resources, infrastructure, and services.
Rising concerns for construction
The construction industry may want to check their hard hats as some not-so-great industry predictions come slamming down on them. Data from the Australian Securities and Investments Commission has revealed construction insolvencies continue to grow beyond the market average in the fourth quarter last year with a more than 59 per cent increase over the previous year.
Equifax data also shows that construction is positioned amongst the five industries which persistently pay late – taking 7.5 days beyond terms on average – illustrating cash flow struggles for these companies. These statistics continue to raise concerns that 2023 is likely to be one of the worst years since around 2010 for residential construction.
The stone of the hour will not be banned
The big problem with Silica, which we reported last year ends with silicosis or some other dust-related disease” for “nearly one-in-four engineered stone workers who have been in the industry since 2018” has finally made its way into the mainstream conversation.
But amidst delays to banning the engineered stone products that cause the disease Master Builders Australia urged to consider the repercussions on innovation.
While acknowledging the concerning rates of preventable lung disease, and supporting risk research on Silica, the association’s approach in the face of the deadly matter without a cure is to buckle down on education and awareness in the workplace, and urge government to prioritise industry-wide testing on its effectiveness in successfully controlling silica related risk, according to a media statement.
But the dangers have been flagged for several years and we need to question how effective education and awareness might suddenly be in an industry riddled with poor unprofessional practices at the residential builder level, where taking precautions is seen culturally as overreaction at best and where poor communication is understood to be rife wither because of language barriers or other literacy barriers.
In 2020 The Fifth Estate wrote about how Crystalline silica dust has been described as the new asbestos in terms of its health impact for construction trades, with SafeWork Australia hot on its tail. The year before, we published a piece from Monash University contributors about the deadly disease and how more must be done to keep workers safe.
There is also this report, 2021 Review of the Dust Diseases Scheme by the NSW Parliament. Not sure what other convincing is needed.
ESG is favoured
Here’s another bit of evidence to show the world Titanic is at least starting to turn: evidence that companies are finally favouring environmental, social and corporate-governance (ESG) factors more heavily in their decisions on which buildings to lease or buy.
High on the list are green building certifications and energy saving features, according to CBRE which surveyed more than 500 commercial real estate professionals worldwide.
“As companies face rising energy costs and government regulations, they’re willing to pay a premium for spaces with features like on-site renewable energy generation (58 per cent) or smart technology to monitor and adjust energy use (53 per cent) to help reduce energy consumption and carbon emissions,” a media statement about the report said.
Su-Fern Tan, CBRE’s Pacific Head of ESG, said, “The results also confirm that while investors and regulation are driving change, consumers and occupiers are demonstrating a strong demand for sustainable products and investments.
“A company’s brand is also very much linked to who they associate with, so it is revealing to see that more than half of investors are reducing associations with socially controversial companies,” Ms Tan said.
Read the full survey