How BMW is Reducing its Carbon Footprint and Honing in on Carbon Accounting
“Competition and innovation are driving decarbonization forward,” says Thomas Becker, Vice President of Sustainability and Mobility at BMW, as hedelves into how reliable carbon accounting measures are vital for the future of corporate performance and climate change. He discusses how considering carbon emissions needs to be the responsibility of several parties – not just sustainability specialists. Becker breaks down how BMW works to cater to all customer needs and has already seen increases in the sales of their electric vehicles, highlighting how climate change can be a business opportunity.
Key takeaways:
– BMW has ramped up its electric vehicle sales rapidly over the past few years, showing climate change can be a business opportunity.
– It is important to meet all customers' expectations and demands regarding sustainability.
– Decentralized responsibility is crucial. Several parties should be responsible for prioritizing the carbon footprint of a product.
– A comprehensive global carbon accounting standard is decisive for the future.
– People in the accounting and finance industries are vital to the future of sustainability.
“It is now about the truth,” said Thomas Becker. Carbon accounting numbers need to be reliable, as Becker discusses, because they are a critical component of corporate performance.
Timestamps:
00:21 - Climate change as a business opportunity
00:46 - Catering to consumer demands and expectations for sustainability
02:05 - How decentralized responsibility for carbon emissions works
03:55 - Innovation and competition as drivers of decarbonization
04:40 - The importance of reliable global accounting standards
06:55 - The impact of carbon accounting numbers on corporate performance
08:05 - The future of carbon accounting
This video was filmed at the BiGS Leadership Roundtable in Paris, France. Learn more about the roundtable’s significance: https://www.hbs.edu/bigs/about/tools-and-resources/global-leadership-roundtables/europes-green-transition-paris-2024
See more on BiGS research related to climate change: https://www.hbs.edu/bigs/climate-change Receive SMS online on sms24.me
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