5 Ways Companies can lower their Carbon Footprint and Contribute to a Greener Future
As we navigate through the climate crisis, the need for businesses to prioritize carbon management has become more pressing than ever. The United Nations predicts a 10% surge in global greenhouse gas emissions by 2030, making sustainability a critical business agenda.1
Shockingly, just 174 companies are responsible for a whopping 70% of greenhouse gas emissions, according to a survey of more than 9000 companies.2 With such alarming statistics, it is imperative that corporate leaders take a proactive approach to reducing their carbon footprint.
In this article, we will explore five key ways businesses can pave the way toward a greener and more sustainable future. But first, let’s understand what’s carbon footprint and how it can affect your company
How Carbon Footprint impacts your Business?
An assessment of a company’s total GHG (greenhouse gas) emissions from daily operations, such as operating the company and producing its products, is known as its carbon footprint. Since they trap heat in the atmosphere, greenhouse gases make the earth warmer. Carbon dioxide, or CO2, is produced when fossil fuels are used for energy and makes up the vast bulk of greenhouse gases released by commercial operations.
In calculating a company’s carbon footprint, indirect emissions are also considered in addition to its direct operations. These pollutants come from outside sources, yet the company and its operations have a direct impact on them. For instance, the emissions of supporting companies and other businesses that are a part of the company’s value chain. The less carbon your company emits, the more sustainable it is in general.
The storage of digital data is predicted to account for 14% of global emissions by 2040, despite some progress being made towards more energy-efficient data centers.3 In total devices, the internet, and all the systems that support them are responsible for 3.7% of global greenhouse gas emissions, a figure that is projected to double by 2025.
How to Lower Carbon Footprint for Enhanced Business Sustainability and Production?
Setting a target should be the initial stage, followed by comprehending and converting the actual emission baseline into quantifiable units. In the end, monitoring, reducing, and occasionally offsetting emissions is required for nations and businesses to reach net zero.
Here are 5 ways to check your carbon footprint & generate sustainability:
- Using Natural Language Processing (NLP) to determine the Carbon Footprint
In 2023, the value of digitization for business sustainability will only increase. Carbon footprint illustration IT gives businesses the information they want to fulfill legal obligations and achieve their sustainability objectives throughout the whole supply chain. everything from our own fleet of cars to heating, cooling, and garbage disposal. For instance, Natural Language Processing (NLP) examines invoices for products and services acquired to determine the carbon footprint more precisely. Effective decarbonization strategies can then be found and promoted in this way.
- Carbon Offsetting
Carbon offsetting is one method to balance your company’s carbon emissions if you want to attain carbon-neutral status. Businesses take part in programs to reduce greenhouse gas emissions to make up for their own emissions in order to accomplish this. This may entail sponsoring initiatives such as tree planting, forest preservation, and the development of renewable energy sources.
As they depend on the wind blowing and the length of the day, renewable energy sources like wind and solar can be unpredictable. Yet, nuclear power plants can operate around the clock, seven days a week, 365 days a year, ensuring that the electricity grid is always supplied with clean energy and sustainability is maintained.
- Green Hydrogen for the Decarbonization Process
Green hydrogen, which is produced using only renewable energy sources, can significantly improve energy independence and lower CO2 emissions. Without green hydrogen, Net Zero will not be possible. Businesses, particularly those involved in renewable energy, have already realized this. Large businesses in heavy industries like steel and chemicals can benefit from on-site hydrogen production and storage.
Yet, it is also becoming more and more common for applications involving mobility in local governments, local public transportation, the heavy transport sector, or in maritime and aviation traffic. Sector coupling solutions are also available for the manufacturing, transportation, and heating sectors. This tendency is anticipated to pick up steam.
- Constructing with Fewer Resources
Concrete is the most crucial building material available today; without it, there would be no foundation for building homes, significant infrastructure projects, or the energy shift. The building materials sector also has a high carbon footprint and uses a lot of resources. So, it will be crucial to construct more things with less material in the future. This, for instance, results from the serial building using precast concrete components.
Prefabricated parts with prestressed carbon reinforcing are one creative resource-saving and environmentally friendly option. Concrete slabs with excellent performance and extreme thinness allow for material savings of up to 80% and a component’s CO2 footprint reduction of up to 75%.4
- Integration of AIoT into Reporting and Measurement
The amount of work needed to just classify and organize the data from numerous business units and assets is enormous because there are so many databases and systems connected to various carbon-producing assets. The seamless sourcing of real-time activity level data and asset inventory data from a range of systems is made possible by AIoT integration. This gives a company the ability to structure, gather, and report data accurately for emissions monitoring and measurement, which lowers total data collection efforts and improves data quality and report resolution.
From Footprint to Footwork: Navigating the Path to Greater Sustainability
In today’s climate emergency, carbon management systems have become more important than ever, especially with the G7’s mandatory climate risk disclosures. These systems provide the necessary technology to enable businesses and governments to achieve their net-zero goals by actively managing and reducing their carbon emissions.
It is essential to emphasize that businesses have the power to effect change on a global scale. By committing to environmentally conscious practices, not only can companies help to reduce carbon emissions, but they can also boost their reputation and bottom line. Let’s take the first step towards a greener tomorrow and pave the way for a more sustainable future, one footwork at a time.