What is Zero Carbon and Why Does Your Company Need to Commit to It?
Countless businesses and countries around the world have announced that they are committing to “zero carbon” goals within the next few decades in answer to the worldwide call to combat climate change and its calamitous results.
Climate change is on the forefront of the world’s most pressing crises, and world leaders are running against the clock in an effort to beat back its effects. According to McKinsey Sustainability, climate change poses a significant physical risk, which will only continue to rise until emission reduction goals are achieved.
The discussion around climate action has introduced several terms to our vernacular, such as “zero carbon” and “net zero”. Often, these terms are used interchangeably; however, they are very different approaches in the fight against climate change.
Zero Carbon vs. Net Zero
Zero carbon means that there is no production of carbon emissions from a product or service. Therefore, there is no need to capture or offset carbon.
Meanwhile, net zero refers to the practice of balancing out the whole amount of greenhouse gas released with the amount removed from the atmosphere.
A Growing Demand
There has been a growing demand for organizations to reduce emissions the world over. This year, the UK hosted the UN Climate Change Conference COP26, which aims to bring world leaders together to commit to urgent global climate action and work towards the goals of the Paris Agreement and the UN Framework Convention on Climate Change.
COP26 goals include securing net zero and limiting global temperature rise to no more than 1.5 degrees Celsius, and adapting to protect communities and natural habitats.1
Several household-name businesses have recently answered the call and pledged to rapid decarbonization, such as Microsoft, Apple, Shell, Qantas, Rio Tinto, and BHP, to name a few. The pressure to eliminate carbon emissions, while initially faced only by governments and large companies, will eventually spread to small businesses.
What does this mean for your business? And why does your company need to commit to sustainable outcomes?
If they aren’t already in place, it won’t be long before government regulations, policies and laws will require businesses to adapt in order to avoid facing hefty compliance fees or suits. Sooner rather than later, companies who fail to keep in step with the global movement towards climate action will find the countries in which they operate making the decision for them, resulting in increased pressure to act. Not to mention, you can expect there to be mounting demand from your shareholders and customers to do so.
Shift to Sustainable Products
There are various ways for companies to establish and implement internal carbon strategies. One of these is by practicing sustainable procurement, which takes other factors into consideration, such as social, economic, and environmental aspects, alongside price and quality, in their purchasing processes. Companies that implement sustainable procurement factor in compliance with environmental laws in their considerations, and ensure that their suppliers are thoroughly vetted for fair labour practices. They also ensure the removal of hazardous materials and waste in the supply chain.
One way that Envirofluid helps its clients achieve their zero carbon goals through sustainable procurement is by providing industrial chemicals that are:
- Readily biodegradable
By using sustainable chemicals, your company will be one step closer to achieving your climate action goals and doing your part in the global race against time to fight climate change. By baking in sustainable procurement into your zero carbon strategy now, you will not only be preventing costly environmental compliance fees, you will also reap benefits including increased innovation, risk management, competitive advantage, and business growth.