Net Zero - on the one hand a fundamental cornerstone of our future economy (if we want the planet to remain habitable), on the other hand a sometimes unhelpful and misunderstood buzzword.
"When we've minimised greenhouse gas emissions as far as possible and absorb at least as much as we emit."
Two concepts here that can be overlooked in some companies' claims of net zero:
1. Minimise as far as possible - that means no use of fossil fuels for heating or creating electricity, no fossil fuel transport (with the possible exception of minimal air travel), minimal use of virgin materials and almost no waste... Not something that's fully possible right now, nor within any company's full control. Compete on an earlier net zero date at your peril!
2. Absorb as much as we emit - the other side of the balance sheet. While carbon credits have had a volatile reputation, they, alongside carbon capture and storage, are an important part of the solution. We just need to get a lot better at accurately measuring and assuring good quality projects to eliminate 'junk' credits that overstate their impact.
Whether 'net zero' is your preferred term (we prefer thinking of an economy at equilibrium, or a low-carbon world), it's one of the cornerstones of our future economy.
So, well worth knowing how your company's going to get there and thrive in that world!
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