The objective of this Opportunity is to shortlist the submissions that best answer the brief, with the aim of attending a presentation day with the EIC Industry Partners, where it can be discussed in greater detail with a technical panel.
What is the Problem?
To support the sustainable transition to net zero, electricity networks must seek to minimise the impact that their businesses have on the environment, particularly with regards to their global supply chains. To enable them to do this, they need to fully understand both the current and future impact of purchases they make and of the upstream (production) effects of the products in their supply chains. This will allow more environmentally conscious decisions to be taken within their respective businesses as they endeavour to become responsible net zero organisations.
Following the UN Biodiversity Conference (COP15) and the subsequent approval of The Kunming-Montreal Global Biodiversity Framework (GBF) in December 2022, compliance with Target 15 within the GBF requires businesses to comprehensively evaluate and disclose:
- Their biodiversity dependencies and impacts.
- The associated biodiversity risks from their operational, supply and value chains.
These issues within the electricity network global supply chain are currently not well understood or assessed, our network partner is therefore looking to improve its engagement with key suppliers and contract supply chains to better recognise these issues.
Approval of the GBF has contributed to the recent launch of the Taskforce on Nature-related Financial Disclosures (TNFD) and Science Based Targets for Nature (SBTN). These initiatives aim to improve transparency and accountability around an organisation’s impacts and dependencies on nature. Whilst both initiatives are currently optional, it is expected that TNFD will become mandatory in the future. Whether these initiatives remain optional or not, the networks are keen to support this project.
The project aims for a two-phase approach. Initially, it seeks to devise a methodology for evaluating the supply chain's impacts and dependencies on biodiversity for a network partner. This includes developing an innovative assessment method, identifying key areas, risks, and influential factors, learning from other sectors, and evaluating metrics for future application.
The first phase's findings will be compiled into a report and presentation. The second phase will build on these insights to conduct a thorough assessment of identified priority areas and apply agreed-upon metrics for evaluation. This includes examining key products, assessing long-term supply chain risks, and proposing recommendations and targets to mitigate negative biodiversity impacts.
The project aspires to establish a consistent and robust assessment methodology across the electricity transmission and distribution sector, addressing shared environmental risks with global suppliers.
The EIC is hosting a Q&A for this Call for Innovation with network representatives on 20 February 2024 at 11:30.
Please register herehttps://www.eventbrite.co.uk/e/assessment-framework-nature-and-biodiversity-impact-of-supply-chains-qa-tickets and submit any questions you may have to email@example.com.