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Why All Businesses Should Come Forward to Become Net Zero?

Why-All-Businesses-Should-Come-Forward-to-Become-Net-Zero

Almost everyone in the world is now familiar with the terms global warming and climate change that not only encompass rising global temperatures but also many other consequences such as extreme weather events, changing rain patterns, shifting wildlife habitats, intense drought, frequent and severe storms, melting glaciers, rising seas, etc. All of these impacts are emerging because of the insensitive behavior of humans.

Their continuous combustion of fossil fuels adds harmful heat-trapping greenhouse gases into the atmosphere of the planet. Now climate scientists are warning that if the emissions of greenhouse gases are not controlled, it will lead the planet towards destruction.

 

Nowadays to avoid the catastrophic repercussions of the climate crisis a growing number of organizations all over the world are now coming forward to promulgate their net-zero targets.

 

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In today’s world net-zero is indeed becoming a buzzword that signifies a balanced state when equilibrium is maintained between the amount of produced greenhouse gases and the greenhouse gases that are removed from the atmosphere. Without a significant reduction in greenhouse gas emissions, this state cannot be achieved. Scientific carbon reduction strategies and an increase in the number of carbon sinks can help in the absorption of carbon from the air.

 

According to the suggestion of the Paris Agreement, we should limit average global temperature increase at least to 1.5 degrees Celsius, yet based on current climate policies all over the globe a 2.7-degree Celsius temperature rise is anticipated against the pre-industrial era. If global temperature increase crosses the limit of 1.5 degrees Celsius it will result in disastrous weather events including extreme rainfall and enormous loss of habitats.

 

The relevance of improved climate strategies to achieve net-zero emissions is now greater than ever as we only have 8 years to fulfill the recommendations of IPCC (Intergovernmental Panel on Climate Change) of halving the net greenhouse gas emissions of the world by the year 2030.

 

Read Also – Renewable Energy Growth Is Accelerating at a Record Pace

Changing climate is posing serious risks to people and the planet. Businesses throughout the world are also experiencing a lot of trouble, for example, supply chain instability, the risks of non-compliance, etc. due to the consequences of climate change. In 2021 the net-zero standard provided by the SBTi (Science Based Targets initiative) has given a clear blueprint for the companies to set science-based credible net-zero strategies.

 

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Before the launch of this standard, there was no universal guideline to give direction to the companies toward net-zero emissions. Now let us discuss some key steps that businesses should undertake to become net-zero.

 

First of all, companies should begin with an emission inventory to have an idea of the amounts of air pollutants and greenhouse gases emitted into the air within the organization’s entire value chain. Among Scope 1, 2, and 3 emissions, Scope 3 emissions are the most difficult. (Scope 1 emission is the direct emissions from the sources owned or controlled by the company.

 

Scope 2 encompasses the indirect emissions that generate from the purchased energy. On the other hand, Scope 3 is the largest source of emissions that results from the activities of the assets not controlled or owned by the particular business but occurs in the value chain of that particular business). After undertaking an emission inventory companies should establish their net-zero targets and science-based strategies.

 

The near-term net-zero targets of the businesses must include a reduction of emissions for the next five to ten years. They must strive to follow the IPCC’s guidelines of halving emissions by the year 2030. By taking long-term targets companies should endeavor to reduce 90-95% of their emissions by the year 2050.


To reduce emissions within their value chain businesses should take several efficiency measures and increase stakeholder collaboration. They should think of using renewable energy and investing more in business transformation. With emission reductions, they must make an effort to offset all the residual emissions.

Though transitioning to a state of net-zero emissions is undoubtedly a challenging task and needs a lot of patience and effort, for the sake of the environment of our planet businesses must take the lead of becoming carbon neutral. Besides saving the planet from destruction it will also have several impacts on the profitability of the organizations. Sustainable measures will provide them with greater resilience, save their operational costs, and also improve their reputation among their customers.

 

Also Read – Carbon Footprint of Artificial Intelligence: How It Is Accelerating the Risk of Climate Change

What Should I do Now?

1. Calculate your Carbon Footprint if you haven’t

2. Fund Projects that interest you and Erase your Carbon Footprint

3. Contribute to Crowdfunding Projects 

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