Five Simple Steps To Help Your Business Reach Net-zero

Cost


Net-zero is a lofty goal for many businesses, but there
are actions you can take right now to get closer to
achieving this, according to emissions management experts at
SINAI.

Net-zero (short for net-zero emissions) means
achieving a balance between the greenhouse gases you put
into the atmosphere and those you take out.

Imagine
you have an empty sink. You can turn the taps on to add
water and pull the plug to allow water to flow out. The
amount of water in your sink depends on how much water you
allow to run through the taps and how much to let out
through the plughole. To keep the amount of water in the
sink at the same level, you need to ensure that the input
and output remain balanced.

Reaching net-zero follows
the same principle, requiring companies to balance the
amount of greenhouse gases they emit with the amount they
remove.

When what we add to the atmosphere is no more
than what we take away, we reach net-zero. Reaching net-zero
is also referred to as carbon neutral.

So what
tangible and meaningful actions can corporations take now to
inch closer to reaching net-zero?

1. Scope emissions
sources

Accurately and thoroughly scoping emissions
sources is key providing your organization with the
structure to successfully measure, report analyze and reduce
emissions down the road.

Additionally, scoping
greenhouse gas (GHG) will help you identify a common
framework for carbon strategy and accounting, and connect
this to your organizations business objectives in the
process.

2. Establish emissions
baselines

Baseline definitions are a snapshot of your
company’s GHG emissions from a specific moment in time.
Building emissions baselines make it a lot easier to view
and analyze historical emissions. Additionally, they’ll
help your organization grasp future trajectories and serve
as a reference point to evaluate decarbonization projects
and business decisions against.

Finally, defining your
baseline carbon will assist in peer benchmarking and is an
integral part of many climate risk disclosure frameworks for
reporting.

READ
MORE: How to become a successful green
business

3. Assess mitigation and adaptation
options

Organize and compare emissions reduction
opportunities that exist in your corporation and connected
supply chain.

This will help you compare and contrast
marginal abatement costs of mitigation options across your
multiple business units while helping your company identify
the most cost-effective opportunities for
adaptation.

It’s possible to generate automatic
Marginal Abatement Cost Curves (MAC Curves) and Levelized
Cost Curves that are accessible and user-friendly to help
you analyze emissions reductions costs, quickly and
easily.

4. Set an internal carbon
price

Setting an internal carbon price means putting
a monetary amount on the carbon emissions your company
produces. The cost can be calculated based on your
environmental impact of GHG emissions and any low-carbon
energy solutions you utilize, among other
indicators.

Putting a price tag on your company’s
carbon is a powerful and efficient way of incorporating
climate risks into the cost of doing business, as well as
identifying opportunities and organizing decarbonization
budgets.

In several countries, emitting carbon is now
much more costly as a result of carbon pricing. Emerging
technologies and products help corporations and individuals
calculate, monitor, price and achieve their CO2 reduction
goals. Internal carbon pricing is key to not only mitigate
risk, but successfully budget for net-zero.

5. Commit
to a science-based initiative

Lastly, companies may
be assisted in reaching net-zero faster by committing to
ambitious targets set by an external, science-based
initiative.

The STBi’s Ambitious Corporate
Climate Action
is just one of many respected initiatives
companies are getting involved in. Science-based initiatives
bring together a growing collective of energy-smart
businesses with ambitious targets in transitioning to a
low-carbon economy.

Additionally, many initiatives
generate shared natural climate solutions across the supply
chains in specific business sectors by bringing companies
together, focusing on the energy, agricultural, and
transport industries. These types of initiatives give
businesses greater access to resources and communities that
can help them develop new low-carbon pathways.

To
understand how SINAI Technologies can support your
organization to build carbon baselines, visualize scenario
planning and risk analysis, and enable meaningful progress
towards your decarbonization journey,
contact
them for a
demo
.

© Scoop Media

 



Read More:Five Simple Steps To Help Your Business Reach Net-zero

Leave a Reply

Your email address will not be published. Required fields are marked *