Net-zero emissions and emission mitigation are currently the primary objectives of policymakers in all top countries. Countries like the UK, the US, China, and others have set targets to reduce greenhouse gas emissions to zero emission by 2050. This is achievable with renewable energy resources.
India’s commitment to renewable energy is also unwavering, and this commitment is clearly reflected in ambitious goals and concrete actions. India aims to reduce its economy’s emission intensity by 45% by 2030. It also wants to reach 50% of electricity generation from non-fossil fuels by 2030 and create an additional carbon sink of 2.5 to 3 billion tons of CO2 by 2030.These goals propel India forward on the path of sustainable development and become a source of inspiration for countries worldwide.
The net-zero emission target is not just limited to countries but also companies. Companies transitioning into net-zero emissions need help to achieve this while targeting the profit margin. However, it is a significant contribution that companies need to make to give back to the society it operates in.
According to recent stats by Accenture, one in five companies globally is on track to reach the net zero emissions target by 2050. The report also mentioned that companies targeting net zero emissions with renewable energy have increased by 37% from 34% in recent years.
This article will examine net-zero emissions and how companies can achieve them with proven sustainable energy solutions.
What are Net-Zero Emissions?
Net-zero emissions are methods of reducing greenhouse gas emissions close to zero. A country reaches a net zero level by eliminating carbon emissions through different sustainable energy solutions.
According to IPCC, a country can achieve zero emissions when anthropogenic removals balance the anthropogenic emissions in the atmosphere over time.
How can Organisations Achieve Zero Emissions with Renewable Energy?
Bringing down the carbon footprint without compromising the profit is the biggest challenge companies face in India and globally. Many of the top Indian companies are on the list of RE100 Companies- a global corporate renewable energy initiative that brings global companies together.
These companies are committed to working on 100% renewable energy resources and achieving zero emissions.
Here are some ways for companies to achieve Zero Emissions with Renewable Energy.
Many companies aspire to achieve zero emissions through renewable energy to minimise their carbon footprint and help reduce climate change’s impact.
The following are some of the ways for companies to attain zero carbon emissions:
- Define Goals: Set clear, quantifiable objectives to reach zero emissions using renewable energy. These might be reducing emissions by a certain percentage at a particular time or becoming carbon-neutral.
- Mitigation: Companies should emphasise energy optimisation within their facilities before embracing renewable energy sources. This ensures energy reduction at the point of usage. This may involve opting for energy efficiency solutions, updating machinery, enhancing insulation, reducing energy consumption through process optimization in their routine functioning, etc.
- Transition to renewable energy: Switch from procuring power through the grid to entering into Renewable Energy Power Purchase Agreements (PPA) for long term, mid-term and short-term power offtake as per the company’s defined goals.
- Transition the Thermal Power Load: The Thermal load where fuels like Coal, FO (Furnace Oil), LPG, etc. are used in the operations. It needs to be transitioned to Renewable Energy sources.
- Carbon Offsets: For emissions that cannot be eliminated through replacing grid power with PPAs due to policy and regulatory constraints, other solutions can be chosen, such as Virtual Power Purchase Agreements (VPPAs), RECs (Renewable Energy Certificates) and iRECs (International Renewable Energy Certificates).
Conclusion
Turpinas Energy wouldn’t just be your consulting partner in developing a roadmap for transitioning to Renewable energy-dependent operations but also an Implementation partner to ensure your organisation achieves its set target of zero emissions with renewable energy. Reach out to our experts today to make your journey easy.
