BACA vlog series | VP Capital
At times when the impact of climate change has never manifested itself more evidently and devastatingly, effective implementation of emission reduction measures deserves to be at the centre stage of the event. That is why in this vlog series, our vlogger Jaffar will share with you a grasp of inspiring ‘implementation stories’ from different BACA members.
Implementation is at the core of what we do with the Belgian Alliance for Climate Action. By setting science-based emission reduction targets (SBTs), the companies, NGO’s and academic institutions within our network make sure that the measures they implement now, make sense on the long term. And they have plenty to show for.
In this episode, Jaffar visits Mark Schravesande, project manager at VP Capital. VP stands for Van Puijenbroek, which is a Dutch-Belgian family who have been entrepreneurs for over 100 years. They have evolved into an investment company that invests in companies, mostly with sustainability targets, in the Benelux region.
Jaffar: How does VP Capital engage with Science Based Targets?
Mark: “With our investments, we try to assure positive impacts. Every company has a certain amount of ‘negative impact’, since we all produce carbon emissions. For a couple of years, we have been focusing on reducing our carbon emissions. The first step is always to measure your own carbon footprint and the second step is to reduce it. But how far should one go in that? These science-based targets assist with that, as they help you to define the exact target that should be reached to stay aligned with the Paris Agreement.”
Jaffar: Did you encounter any challenges while aiming to reduce your carbon footprint?
Mark: “As an investment company, we're only a small company. We work with just 12 people in an office, just two buildings. And so comparatively speaking, our direct carbon footprint is rather small. But that's not the main point. The main point is the companies we invest in, our portfolio companies. They have emissions, and our main efforts are targeted at those emissions.”
Jaffar: Do you sometimes deal with companies that are reluctant to adjust their policies to such decarbonization measures?
Mark: “Not really. I think most people and companies see that it's important and they they're really willing to reduce, but they often have other priorities. Of course, some companies are struggling with their finances and, in a natural reflex, give that priority. But sometimes they don't know where to begin or they don't know exactly how it works. So, it is not just about communication. It's also about educating about how these science-based targets work and how to calculate carbon footprints. In a broader sense, it's really about engaging with all our portfolio companies too.”
Jaffar: What kind of support do you believe is needed, for example from governments to accelerate climate action in your sector?
Mark: “We all have our role to play. I think the most important thing that the government can do, is to set legislation in such a way that products come closer to their true price. Today, many products have a price that doesn't incorporate negative externalities like CO2 emissions. Because of that, products with negative impacts are cheaper and products with positive impacts - and have less emissions - don't get a bonus.”
Jaffar: What final call of action would you suggest to your peers and clients?
Mark: "Don't do just something, but make sure you do enough. For me, that’s what the science-based targets are about. It shows you what needs to be done. I also think companies should not focus on profits, but instead start with what needs to be done. Just realize what you must do and actualize it. Don't be afraid to take some risk! The risk of not doing anything is much greater.”
Jaffar: Thanks a lot mr. Schravesande!
About the vlogger
Jaffar Abbas is a master student of Sustainability, Society and the Environment (SSE), studying at the Christian-Albrechts-Universitat of Kiel, Germany. He's a Pakistani climate change activist, with a strong research interest in environmental communications. He hopes to do his part in improving the state of the world by working on climate justice.
An inspiring story to share?
Do you have a compelling story to share about your organisation's climate trajectory? It can be an example of success or failure, as long as it has potential to inspire others to take action! Drop us a short e-mail and we'll get in touch.