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Jose Maria Ortiz is Palladium ’ s Head of Impact Investment . He admits the profound complexity of the topic and cites the standard of the ‘ science-based targets ’ ( SBTi ), codified in the UN ’ s Paris Agreement on climate change , which was signed in 2016 : “ It forces organisations to look at their value chain in its entirety , to compensate for Scope 3 [ a condition of ancillary ] impacts . “ It ensures organisations look at the entire value chain and rediscover the depth of their suppliers . The best way to do this is to ask direct providers to become SBTi signatories , too , and therefore ensure sustainability is cascaded down through this scheme .”
But is this level of accountability attainable ? Well , you see , that ’ s the rub .
Articulating his thoughts on the matter , Ortiz says : “ In this case , major companies need to get involved directly to unpack the challenge and find solutions that restructure the value chain , tackling the challenges of sustainability from an environmental and social point of view .”
Although it all seems very clear cut there , he must concede that , “ there aren ’ t standards like SBTi for social challenges – meaning that they not only have to use other
126 March 2023