12 March, 2021
Ever since net zero emissions first emerged as a concept, we have been involved with it closely, recognising that nothing motivates action like a clearly defined destination.
While initially presented by the IPCC in terms of a global and national goal, it has been adopted as a target by businesses around the world. It brings together all the key elements of a climate strategy – calculating a carbon footprint, setting targets for reducing emissions, and offsetting residual emissions – and puts them into a comprehensive approach to manage a country, business or individual’s climate impact. This is commendable, but also complex. Each of the individual areas is complicated and nuanced, so bringing them together can be even more challenging. As a result, and without consensus on definition, business’ interpretation of net zero have varied widely.
All of which means there has been a clear need to standardise best practice in some way, so we’re excited by the fact that the Science Based Targets Initiative (SBTi) is working on doing exactly that. The SBTi started its public consultation on net zero a few weeks ago, and we have put some thoughts together on what it says and what we think this means going forward.
Many questions still remain, but a consensus view on what we mean by net zero is essential to encourage widespread adoption and far-reaching action. You can read the article on our website here.
By Patrick Bapty