According to the PIMCO Net Zero Framework, what is the first step to achieve net-zero goals?

Defining targets and interim milestones is a crucial first step in the PIMCO Net Zero Framework because it establishes clear, actionable objectives that guide the overall strategy toward achieving net-zero emissions. Without specific targets, organizations lack a focused plan to address climate change, making it challenging to measure success or make necessary adjustments.

Setting milestones allows organizations to break down their long-term net-zero goals into manageable, time-bound objectives. This structured approach makes it easier to monitor progress and ensure accountability, as stakeholders can assess achievements at various stages. By clearly articulating what success looks like at different points along the journey, organizations can mobilize resources effectively, allocate responsibilities, and foster a culture of sustainability throughout their operations.

In contrast, while identifying ways to decarbonize, implementing and gauging impact, or tracking progress are important components of the overall framework, they are actions that typically follow the establishment of clear targets. The foundation of a successful net-zero strategy relies on knowing what specific outcomes are aimed for before delving into implementation or evaluation processes. Thus, defining targets and interim milestones is rightly acknowledged as the initiating step.