We have all seen the devastating impacts of global warming and climate change, such as the rapid loss of natural habitats, extreme weather patterns, and droughts. According to the UN Secretary General, Antonio Gutierrez, the world is at the tipping point, and no single moment should be wasted to recede impacts of global warming.
Already, countries are heeding the call with the EU leading the way with its target to achieve carbon neutrality by 2050. Others, including the UK, Japan, Canada, New Zealand, and Hong Kong Stock Exchange (HKEX), are crafting laws for carbon neutrality.
As a leader, manager, entrepreneur, or person in authority, you cannot go against the grain. It is time for your company to also become carbon neutral, but what strategies should be applied? Here are some of the best strategies on how to be carbon neutral.
What Is Carbon Neutrality?
Carbon neutrality means a situation where the amount of carbon that is emitted is equal to that that is absorbed by carbon sinks. The process of removing carbon dioxide and storing it in sinks is referred to as carbon sequestration.
In an ideal situation, the carbon sinks absorb more than the planet emits. The main natural carbon sinks are oceans and forests. The annual global carbon dioxide emission hit a global rate of 38.0 Gt in 2019, which is more than triple the natural sinks’ annual off-take capacity of 9.5-11 Gt.
When assessing the best methods of how to be carbon neutral, the target is helping to cut down the annual average of 38.0 Gt to the levels that the natural sinks can take up.
This is why everyone should be involved, but incorporations have a bigger role to play because their carbon footprints are way larger compared to individuals.
How To Be Carbon Neutral
There is no one-fits-all strategy when it comes to achieving carbon neutrality in the corporate world. Indeed, you should look for strategies that best work for your company. If your company is in manufacturing, how to be carbon neutral will be different from another firm in the insurance niche.
Here are some of the best methods that you can use to achieve carbon neutrality.
1. Lead From The Top
Your strategy to achieve carbon neutral status must be led from the top. This means your company should redefine its strategy to include a target for cutting down emissions.
For example, you can create a unit in the management team to focus on the carbon neutral agenda. Note that this might require additional training for the involved team and funding.
2. Calculate Your Carbon Footprint And Craft A Plan For Reduction
You can only reduce what is known. So, start by reviewing the carbon footprint of the company and use the information to set new targets. Remember to accurately calculate scope 1, scope 2 and scope 3 emissions in line with the greenhouse gas protocol. It is also crucial to ensure that the data used therein is accurate for stakeholders to be able to read and ascertain the efforts.
3. Shift To Renewable Energy Sources
The primary source of greenhouse gasses is fossil fuel burning for different activities, from boilers in industrial facilities to vehicles on the road. If your facility can shift from fossil fuels to cleaner energy sources, such as solar and wind, it will be possible to hit carbon neutral status fast.
Note that although a shift to these new technologies might be expensive in the short term, the benefits will be way more in the long term.
4. Shift To Energy Efficient Vehicles
Consider purchasing a hybrid car if you are shopping for a new car. A hybrid var will run both on fuel and electricity. Try to use the electricity aspect to reduce CO2 emission. And use fuel only when the car doesn’t have any energy left.
If possible, avoid using any private car for transport. Instead, try to use public transport as much as possible to reduce the CO2 count per vehicle.
Conclusion
These are only a few of the strategies that you can turn to, but there are two more things that can help on how to be carbon neutral: using appropriate sustainability management software and an ESG reporting framework.
The software allows you to accurately gather and analyze data, while the selected framework helps to provide greater credibility to the report to stakeholders. Contact Diginex.com for the best ESG reporting app and expert assistance on all matters of corporate sustainability.
That’s it for this article. If there is any confusion regarding any part of the article, feel free to raise your queries in the comment section.
