​Starting Your Journey to Net Zero..
What is ‘Net Zero’?
It is achieving a balance between the amount of greenhouse gas emissions produced and the amount removed from the atmosphere. Greenhouse gases include Carbon Dioxide, Methane, and others, and because of human activity since the industrial revolution, there are far more being released into the Earth’s atmosphere, than what is being removed
Why is Achieving a Net Zero Target Important?
Quite simply, to limit the effects of climate change & global warming, so human life on Earth can be sustained
How Can it be Achieved?
In two ways:
1. A concerted global effort to reduce carbon emissions.
2. Carbon off-setting strategies
What is Being Done to Achieve
Net Zero?
In 2015, most of the world’s governments set out a plan to reach net zero, which came to be known as the ‘Paris Agreement’. As of July 2021, all but three of the world’s major countries have ratified the agreement. The main aim of the agreement was to limit global warming to 1.5C (based on pre-industrialisation levels) by 2100. Unfortunately, current commitments made by world governments fall well short of what is needed, to achieve this
How is the UK Playing its Part?
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In 2019, the UK Government passed law committing the UK to be net zero by 2050 and set an interim target of a 50% reduction in emissions (based on 1990 levels) by 2030. To help achieve these targets, numerous pieces of legislation have been passed, impacting both consumers and businesses in the UK. In particular, the ‘Streamlined Energy & Carbon Reporting’ (SECR) legislation forces all companies in the UK that meet two of the following criteria,
to report on their carbon emissions:
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• > 250 Employees
• > £36,000,000 in annual turnover
• > £18,000,000 balance sheet total
Why is it Important to Your Business?
Your Customer Base – If you supply into larger companies, bound by legislation, these customers will soon ask about your carbon credentials, as they look to report on their ‘Scope 3’ emissions
Your Ability to Secure Finance – Banking institutions are now looking to a business’ carbon credentials when lending money and are offering more favourable rates to those that can prove they have a carbon reduction strategy.
Cost Reduction – By consuming less, businesses waste less and therefore spend less.
Your Employees – The next generation of talent are more aware of their impact on the environment and as they enter the job market, they will seek out employers that are taking action
Your Ability to Secure Finance – Banking institutions are now looking to a business’ carbon credentials when lending money and are offering more favourable rates to those that can prove they have a carbon reduction strategy.
Carbon Emissions Tax – Plans are currently being outlined for a UK carbon emissions tax
