HOW COMPANIES CONTRIBUTE TO THE ENVIRONMENT

Recent studies have examined the concerns and actions of business leaders and companies, regarding climate change and environmental sustainability.

It was noted that the members of a company's Management committee (CxO) show a much higher concern about climate change than the general public and this has increased significantly in recent months, but so has their optimism that immediate action can make a difference.

We are seeing how forces around the world have come together to create a “Net Zero” agenda. The momentum comes not only from government agencies but from all directions, including regulations, investors and consumer demand, as CxO responded in the study.

On this point, it is important to understand the difference between “zero carbon” and “net zero.”

When we say “zero carbon” we mean that there is no production of carbon emissions derived from a product or service, i.e., no carbon was emitted from the first moment, so there is no need to capture or offset the carbon. For example, a business that uses only renewable energy in its processes.

On the other hand, being “net zero” means removing from the atmosphere as much CO2 as we emit, i.e., achieving a balance between carbon emission and carbon absorption from the atmosphere.

*Source: South Pole

Companies are implementing precisely a “net zero” strategy, combining, on the one hand, an emission reduction plan and, on the other, offsetting any remaining emissions. In fact, “net zero” is the internationally agreed goal to mitigate global warming in the second half of the century. The IPCC (see previous article) concluded the need to achieve net zero by 2050 to limit the earth's warming to 1.5°C.

And what does “carbon offsetting” mean?

Offsetting the carbon footprint consists of neutralizing the amount of CO2 emissions emitted by the organization by carrying out projects with a negative footprint. A truly impressive example is what Microsoft is doing through its provider Climeworks: Installing giant machines that absorb CO2 from the atmosphere. It seems incredible but it is real: The largest of its kind was installed in Iceland in 2021.

*Climeworks machine installed in Iceland

 If you want to learn more on this subject, see the previous article. And, to understand what a carbon footprint is at the enterprise level, we recommend reading “The 3 levels of emissions”. If you want to start your transformation to a Green Tech Company, contact us.