What is net zero?

Net zero is a pivotal concept in the global effort to combat climate change, representing a state where the amount of greenhouse gases emitted into the atmosphere is balanced by an equivalent amount removed. This balance is essential for stabilising global temperatures and mitigating the adverse effects of climate change. Various terms, such as carbon neutral, net zero, and climate neutral, indicate different methods of accounting for emissions sources and sinks, clarifying what is included in calculations or targets. 

What does net zero mean? 

Achieving net zero means that any greenhouse gas emissions produced by human activities, particularly carbon dioxide (CO₂), must be counteracted by efforts to remove an equal amount from the atmosphere. This can be accomplished through various methods, including reforestation, carbon capture technologies, and enhancing natural carbon sinks like forests and oceans. The term “net” highlights that it may not be feasible to eliminate all emissions entirely; thus, a combination of significant reductions and carbon removal is necessary. 

Importance of net zero 

The urgency for net zero implementation is underscored by international agreements such as the Paris Agreement, which aims to limit global warming to 1.5 degrees Celsius above pre-industrial levels. To meet this goal, global CO₂ emissions must reach net zero by around 2050. Achieving net zero is not just an environmental imperative; it also represents a significant economic opportunity as industries transition towards sustainable practices. 

Understanding the scope of net zero 

Net zero encompasses all greenhouse gases covered under international frameworks like the Kyoto Protocol. The scope typically includes three categories of emissions: 

Scope 1: Direct emissions from owned or controlled sources. 

Scope 2: Indirect emissions from the generation of purchased electricity. 

Scope 3: Other indirect emissions in a company’s value chain. 

This comprehensive approach ensures that all aspects of an organization’s emissions are accounted for in their net zero target setting. 

Strategies and challenges 

To successfully reach net zero, a comprehensive strategy is necessary: 

• Reduction of emissions: Organisations must implement measures to significantly reduce their greenhouse gas emissions. This includes transitioning to renewable energy sources, enhancing energy efficiency, and adopting sustainable practices across operations. 
• Carbon removal: For emissions that cannot be eliminated entirely, companies must invest in carbon removal technologies or projects that absorb CO₂ from the atmosphere. This can involve afforestation efforts, soil management practices, or advanced technologies like direct air capture. 

Global commitment 

More than 130 countries have set targets for achieving net zero emissions by 2050, covering around 70% of global CO₂ emissions.

The role of businesses in achieving net zero 

Businesses also play a critical role in reaching net zero targets. By setting science-based targets and committing to substantial reductions in their emissions, companies can contribute significantly to global climate goals.  

Initiatives like the Science Based Targets initiative (SBTi) help organizations align their strategies with the latest climate science, ensuring their efforts are both ambitious and achievable. 

Examples of corporate commitment 

Many companies have already made significant strides toward net zero: 

Unilever, under former CEO Paul Polman, committed to achieving net zero emissions across its products by 2039. The company has focused on reducing its carbon footprint while investing in sustainable sourcing and production methods. 

Microsoft has pledged to become carbon negative by 2030, meaning it will remove more carbon than it emits across its entire supply chain. The tech giant is investing heavily in carbon capture technology and reforestation projects. 

These examples illustrate how leading companies are not only setting ambitious goals but also implementing concrete actions to achieve them. 

Conclusion 

Net zero is not merely an environmental goal; it is an essential framework for sustainable development and climate resilience. As businesses and governments align their strategies with this objective, they contribute significantly to global efforts aimed at mitigating climate change. The path to net zero requires collaboration among all stakeholders – governments, businesses, and individuals – to ensure that collective action leads to meaningful progress towards a sustainable future. By understanding and committing to net zero planning, we can work together to create a healthier planet for generations to come.