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Looking Back on the First Half of 2024

Our mid-year review highlights FutureTracker's key developments as well as crucial climate events that impact us all.
10/07/24

Over the past six months, we have launched innovative products and services designed to help businesses of all sizes and sectors on their sustainability journeys. At the same time, the world has experienced notable climate events and legislative changes that highlight both the challenges and opportunities in the fight against climate change. This review reports these key moments and provides a comprehensive look back at the first half of the year.

FutureTracker News

New Plans and Pricing

Last month we revolutionised our pricing and service model by launching four unique plans, carefully designed to meet the needs of businesses from all sectors and sizes, and with any level of sustainability and climate maturity.

Climate Essentials Plan: Our Climate Essentials plan was designed with small businesses in mind. It provides the tools and information necessary to measure a carbon footprint, set actionable goals, and begin reducing emissions—all at an accessible price point.
Climate Plus Plan: The Climate Plus plan offers comprehensive footprint measurement across multiple sites, backed by personalised expert guidance, detailed reports, and our sustainability journey mapper. This guided process, supported by expert advice and assistance, helps businesses expedite their progress toward sustainability goals.
Sustainability Plus Plan: The Sustainability Plus plan enables businesses to unlock the full potential of their sustainability efforts with tailored GRI reporting services. From materiality assessment to publication, this plan guides businesses in making abstract issues tangible and concrete, helping set goals, measure performance, and manage change. It inspires accountability and identifies risks, providing a robust framework for sustainability strategies and activities.
Custom Plan: The Custom plan allows businesses to choose from all the features available in other plans, plus a wide array of additional options, creating a bespoke path to sustainable success. By selecting the features and services that best meet their needs, FutureTracker’s fully-customisable sustainability plan ensures that sustainability efforts are effective, manageable, and adaptable to new challenges and opportunities.

Policy Builder Tool

In May we introduced our new Policy Builder tool, designed to streamline the creation of tailored sustainability policies for your organisation.

The tool empowers users to create documents for various sustainability areas, including procurement, business travel, and human rights. Built on the expertise of sustainability professionals and extensive research, it incorporates industry best practices and regulatory insights, ensuring robust, compliant, and forward-thinking policies.

Our Policy Builder works through an interactive creation process allowing users to shape their policies by responding to statements and questions, reflecting their sustainability intentions and operations. Additionally, the tool assists in managing the document by setting approval processes, accountability measures, and reviewing timelines, resulting in a draft ready for review and finalisation.

Fred Betley Appointed FutureTracker Managing Director

Earlier this year, Fred Betley was appointed the new Managing Director of FutureTracker, marking a significant milestone in his career following a rapid rise from university graduate to executive in just five years. Betley, who co-founded the company in 2019 with Marc Laine, has played a pivotal role in shaping FutureTracker’s mission and strategic direction.

Fred’s vision for FutureTracker remains mostly unchanged from the day he co-founded the business:

“Since day one, I’ve wanted to create something that enables businesses to embrace sustainability, helping the world to tackle climate change and social challenges, while also fostering an environment where corporate success and sustainability can go hand in hand.”

Financed and Portfolio Emissions

FutureTracker has partnered with Zfolio to empower financial service businesses, particularly fund companies, to meet the growing regulatory and market demands for climate-related disclosures. This partnership brings together the innovative capabilities of Zfolio with FutureTracker's expertise in sustainability, providing financial institutions with the tools they need to accurately measure, track, and reduce their portfolio emissions.

SDR and SFDR Reporting

FutureTracker recently partnered with Treety, the business behind leading of ESG, SFDR, and SDR reporting software. This collaboration aims to empower financial services companies, particularly fund managers, to streamline their sustainability data collection, monitoring, and reporting processes.

As regulatory pressure intensifies under new regulations, this partnership combines Treety's advanced technology with FutureTracker's sustainability expertise to ensure financial institutions can meet their regulatory obligations efficiently and effectively.

Climate News

Record-breaking Global Temperatures

  • March 2024: The global average temperature was 1.58°C above pre-industrial levels, marking the tenth consecutive month of record-high temperatures. This month continued the trend of unprecedented warmth, driven by greenhouse gas emissions and the El Niño effect in the Pacific.
  • May 2024: Recorded as the warmest May on record, with temperatures 1.52°C above the pre-industrial average. This month was also the twelfth consecutive month of record-breaking global temperatures, highlighting the escalating climate crisis.
  • First Quarter of 2024: Global temperatures during the first three months of 2024 were about 1.6°C above pre-industrial levels, making 2024 likely to be one of the hottest years on record. This trend is attributed to ongoing greenhouse gas emissions and the current El Niño conditions.

Extreme Ocean Temperatures

  • February and March 2024: Sea surface temperatures reached unprecedented highs, with new global average daily records of 21.09°C. This continuous record-breaking streak in ocean temperatures underscores the impact of climate change on marine ecosystems.

Key Legislation

  • EU Legislation: The European Union adopted the Corporate Sustainability Due Diligence Directive, requiring large companies to identify and mitigate human rights and environmental impacts within their operations and supply chains. This directive represents a significant step towards enhancing corporate responsibility and sustainability across Europe.
  • UK Legislation: The UK passed its most extensive piece of energy legislation to date, the Energy Act 2023. This act aims to strengthen energy security, support the delivery of net-zero targets, and ensure long-term affordability of household bills. Key measures include increasing competition in electricity networks and promoting the use of smart energy systems and carbon capture technologies.

Hydrological Extremes

Air Pollution and Health Impacts

  • UNICEF Report: According to the 2024 State of Global Air report, air pollution accounted for 8.1 million deaths globally in 2021, making it the second leading risk factor for death. The report highlighted that pollutants like outdoor fine particulate matter (PM2.5), primarily from burning fossil fuels, caused more than 90% of global air pollution deaths and were the most consistent and accurate predictor of poor health outcomes worldwide.

The first half of 2024 has been marked by significant advancements and collaborations at FutureTracker, aimed at supporting businesses in their sustainability journeys. However, it has also been a period of alarming climate developments that underscore the urgent need for continued and intensified efforts to address climate change.

FutureTracker remains committed to providing the tools and expertise needed to help businesses navigate this critical path towards a more sustainable future.

If you would like to receive key updates like this directly in your inbox, please join our mailing list using the form on the right.

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