Working towards net zero
With events caused by climate change becoming more prevalent with each passing day, the importance around how businesses can reduce carbon emissions is top of mind for many consumers.
Setting a net zero carbon emission target means reducing carbon emissions as much as possible and offsetting any residual unavoidable emissions.
In the last couple of years, businesses around the world have committed to net zero targets, with declarations doubling between 2019 and 2020.
Netzerotarget.org states the value of businesses may “be tied to their ability to set and prioritise a strong climate target” and that “businesses without Environmental and Social Governance (ESG) are valued less on average than those with strong ESG priorities and a net zero target is the next frontier.”
They also write “aligning with net zero will soon be law in many countries and businesses who prioritise net zero now will be seen as climate leaders….”
So, what steps can your business take to reduce carbon emissions and achieve net zero?
The first step would be to develop a net zero business plan including specific operational implications, what emissions you will reduce before offsetting, what is justifiable, reliance on other factors and future uncertainties. Help for developing a net zero business plan can be found online through organisations such as Take2 or RE100.
Part of your net zero business plan could look at taking immediate action with, among other things:
- Energy monitoring
- Purchasing Green Power or Carbon Neutral products from energy retailers
- A solar PV system to generate clean energy from the sun
- The latest technology in LED lights
- Battery storage
- Power Factor Correction
- Demand Response
As well as helping the environment, you could see significant cost savings and long-term return on investments by purchasing and installing one or more of the above products or services.
There are many incentives available for energy efficiency products and government rebates in Victoria include Victorian Energy Efficiency Certificates (VEECS) for solar PV systems above 200kW. VEECs can provide a higher rebate, an upfront discount, faster payback and improved ROI.
Michelle Kemp, Group Marketing Manager, Cherry Energy Solutions
