Over a few decades, the climate of our planet has witnessed some dramatic changes. The rising temperature, melting of ice sheets, escalated carbon emissions, i.e., the rising level of global warming. This threatening phenomenon is proportional to the quantum of carbon emissions in the environment. With the amplifying quantity of carbon emissions, the planet will continue to heat, worsening the dynamics of human existence. As per the records of the World Meteorological Organization, the warmest 20 years were in the past 22 years, and the four hottest were quite recent, from 2015-2018. (Source: https://www.nationalgrid.com/stories/energy-explained/what-is-net-zero)
International organizations, big corporate houses, small businesses, and even individuals have acknowledged the problem. They are intent on adopting protective measures. But what is the actual problem? What are the issues that institutions are resilient to resolve?Global Warming. It is a phenomenon causing climate change. It happens due to the presence of higher levels of greenhouse gases in the atmosphere. i.e., tapping of harmful gases like carbon dioxide, methane, etc.Implying that the climate damage will continue to intensify as the emissions continue.
What are the solutions to deal with this critical problem? The straightforward answer is to reduce the superabundant amounts of greenhouse gases. We can either lower the emissions we release in the environment or remove the already emitted greenhouse gases from the atmosphere.
Global institutions are incessantly working on inventing policies, procedures, and technology to reduce emission levels. Likewise, there has been a significant amount of effort to identify means for removing these gases from the environment. The experts (industry, economy, meteorology, etc.) have successfully introduced a novel concept – NET ZERO.
What is Net Zero? A process according to which the quantity of greenhouse gases released is balanced with its removal from the atmosphere. As it were, that the amount we infuse/release is not more than the amount we remove from the environment. But why are the experts round-the-globe focusing on the NET zero concept? Quite simply, it is highly challenging to reduce the overall carbon emissions within a given period. Yes, your heads are hitting this question by now. Is this technique/process effective/efficient? Absolutely yes, given we fulfill on condition. The removal must be permanent, i.e., once removed, the greenhouse gases must not leak back into the environment. (This leakage can be a result of acute deforestation or improper storage of carbon dioxide).
The next big question is, how can one efficiently and smoothly transform to Net Zero? The members of this Transform to Net Zero initiative – DANONE, Wipro, Environmental Defense Fund (EDF) have highlighted the five-step net-zero goal-setting process. It is a cross-sector industry initiative, Transform to Net-Zero of which Wipro is the founding member, has commissioned this initiative. Adopting the laid steps will help in smoothly navigating through the process and pledge to realistic emission-reduction targets.
Step1. Analyze your existing emissions
For every organization to build a roadmap and establish net-zero targets, the foremost step is to study their current degree of emissions. One must work on meticulous value chain GHG baseline and footprint estimations. It will decrease the efforts in the target-setting for net-zero transformation.
The emission analysis involves surveying all three Scopes (1, 2, and 3) of carbon emission. It is pivotal to ensure that the accounting is definitive and transparent.
Step2. Establish Net-Zero goals with short-term targets
It is paramount to lay down a comprehensive guideline, clearly stating the emission reduction goals and the predefined timeline for its achievement. Ensure that you share every niche detail of each phase of GHG modifications, including your direct, indirect, and value chain emissions. Constructing and sharing detailed plans accommodating every dimension and short-term targets allows an easy follow-up of your progress towards the net-zero targets by internal and external shareholders.
Step3. Communicate with the leaders to build and sustain the corporate buy-in
The process of decarbonization is an agenda spanning over years and years, requiring the senior level management to clamber on. Why? This process requires the business to undergo numerous operational changes. This process embarks with committing to resources and investments. It further evolves into mutual understanding throughout the organization channel for consistent improvement and working towards sustainability.
Step4. Cooperate with the stakeholders – suppliers and employees on mitigating Scope 3 emissions
Reaching the goal of net-zero is unachievable without mitigating the Scope 3 emissions. By controlling Scope 3 emissions, one company can prevent a major chunk of emissions, enhancing GHG reductions. For reducing the Scope 3 emissions, a few strategies to adopt are:
- Increase employee carpooling
- Chalk-out policies to promote remote working
- Reduce the waste generation of your organization as much as is feasible
- Reduce business travel (via air)
- Increase the product life cycles and disposals at the end of the life cycle
Step5. Collaborate with Partners
Possibly, your company won’t be contributing a lot to Scope 3 carbon emissions. But your business partners, stakeholders, or customer’s company might be contributing to the same. You can significantly contribute to the reduction of GHG emissions. Moreover, it will laterally help other stakeholders to reduce their respective footprints, deploying the right technology and expertise. Your organization’s expertise and planning competencies can be invaluable for the ones who lack them. It will kick start their journey of setting net-zero targets and contributing their share in reducing their carbon footprints and heading towards their net-zero targets.
To work on measures for reducing or lowering the footprints is crucial to nullifying the effects of severe carbon emissions. One of the best initiatives for offsetting the ill effects with long-term implementation and benefits is to transform to Net-Zero. For leading the ways of lacking and capable organizations, the industry experts have begun to lay procedures. These procedures can promote awareness, highlight the problems, and aid with putting forward reliable solutions. As they know, only the mutual and comprehensive efforts as a community can make a huge difference.
