The COVID-19 pandemic has highlighted the vulnerability of many organizations to external shocks, so they are now thinking strategically about the next risk to their operations and sustainability: the climate emergency. This is why, despite the devastating effects of the COVID-19 pandemic, 2020 was a great year for climate change mitigation as 3,222 companies made commitments to climate action and 11 countries increased their emissions reduction ambition.
For many, the real challenge lies in moving from commitment to action and bringing transformation to all levels of the company. A good starting point is to understand the definition of each public commitment. The differences are key for the planet, for our communities and for the reputation of companies.
Carbon neutral
According to the UNFCCC, carbon neutrality is when net greenhouse gas (GHG) emissions are balanced and equal to those that are eliminated.. An organization can be considered carbon neutral if it offsets its GHG emissions by purchasing carbon credits or supporting GHG reduction initiatives such as renewable energy projects.
Carbon neutrality (or net-zero) is the internationally agreed goal for mitigating global warming in the second half of the century, and the IPCC concluded the need for net-zero CO2 by 2050 to remain consistent with a maximum global temperature increase of 1.5°C.
Negative carbon
Negative carbon (also known as climate positive) is when we extract or sequester more GHGs from the atmosphere than we emit. Understanding this concept is key because from 2050 onwards, we must remove more GHGs from the atmosphere than we emit to ensure a safe climate for future generations.
The science tells us that to limit the worst consequences of climate change, we must aim for carbon neutrality as soon as possible or by 2050 at the latest, and that we need rapid near-term decarbonization efforts in this decade.
Can an organization be carbon negative? Microsoft certainly thinks so, and made this commitment at the beginning of 2020: «I am very proud to be a part of the company".«By 2030, Microsoft will be carbon negative, and by 2050, Microsoft will remove from the environment all the carbon the company has emitted, either directly or through electricity consumption since it was founded in 1975."
This 2021, companies have the opportunity to back up their public commitments to carbon neutrality with concrete actions, a major challenge even for those organizations that already have advanced sustainability strategies and trained teams.
By: Hilany Buchelli, Libélula's Assistant Manager of Creation and Development;
Tina Chávez, Libélula's Deputy Communications Manager.
Visit our website where you will find the calendar of our events on carbon neutrality, climate action and sustainable finance, in addition to our corporate membership for a year of services for the company that wants to transform itself towards sustainability and resilience. Shall we talk? Schedule a meeting here.
