Net-zero will impact your business whether you have a target or not
- Northmore Gordon
- February 16, 2021
- Articles
What is Net Zero?
Net Zero is a commitment to decrease or offset greenhouse gas emissions to zero by a certain year. Most governments around the world have set targets to be net-zero by 2050, if not at a federal level, then at a local or state level.
What does this look like?
For a government net-zero means zero direct greenhouse gas emissions for the territory. Some of the policy measures introduced to help achieve these targets are already adding to business costs through increased environmental charges in electricity bills, and this has impacts across your whole supply chain. Carbon border tariffs are starting in the EU in 2023 and the UK is proposing they be introduced globally.
What can you do?
If your business wants to minimise the increasing impacts that carbon costs will have then you should look at implementing a carbon strategy to manage your risk.
If you haven’t already started, then some simple steps include:
- Calculate your full scope 1, 2 and 3 carbon footprint
- Set a carbon reduction and renewable energy target
- Introduce a shadow price of carbon into all investment decisions.
Why should I act?
There is a significant competitive advantage to be gained in preparing your organisation for the transition to the low carbon economy.
- Future-proofing against increasing carbon price risk
- Driving innovation across the value chain
- Saving money through efficiency gains
- Improving investor confidence.
How do I start?
Schedule a complimentary carbon strategy review session with us today. We can start you off on the right pathway for a net-zero future.
For more information about getting a complimentary review or to speak with us about your net-zero future, contact us at Northmore Gordon or get in touch via email carbon@northmoregordon.com
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What is Net Zero according to Northmore Gordon?
Net Zero is a commitment to decrease or offset greenhouse gas emissions to zero by a certain year. Most governments around the world have set targets to be net-zero by 2050, if not at a federal level, then at a local or state level.
For a government, what does a net-zero commitment mean in practice?
For a government, net-zero means zero direct greenhouse gas emissions for the territory. Policy measures introduced to help achieve these targets are already adding to business costs through increased environmental charges in electricity bills, with impacts across the whole supply chain.
Are carbon border tariffs mentioned as part of the net-zero landscape?
Yes. According to the article, carbon border tariffs are starting in the EU in 2023, and the UK is proposing they be introduced globally.
What should a business do to minimise the impacts of increasing carbon costs?
If a business wants to minimise the increasing impacts of carbon costs, it should look at implementing a carbon strategy to manage its risk.
What are the simple first steps a business can take if it hasn't started addressing net-zero?
Simple first steps include: calculating your full scope 1, 2 and 3 carbon footprint; setting a carbon reduction and renewable energy target; and introducing a shadow price of carbon into all investment decisions.
Why should a business act on net-zero even without a formal target?
There is a significant competitive advantage in preparing an organisation for the transition to the low carbon economy, including: future-proofing against increasing carbon price risk, driving innovation across the value chain, saving money through efficiency gains, and improving investor confidence.
How can a business get started with a carbon strategy through Northmore Gordon?
Businesses can schedule a complimentary carbon strategy review session with Northmore Gordon to start on the right pathway for a net-zero future. For more information or to speak about a net-zero future, they can contact Northmore Gordon via their contact page or email carbon@northmoregordon.com.
Who wrote this article and what is their background?
The article was written by Northmore Gordon, authored via Craig Morgan, a mechanical engineer with 30 years' experience, including more than fifteen years assisting organisations manage energy, greenhouse gas emissions, and the impacts of climate change. This includes seven years focused on energy management and greenhouse gas inventory development and mitigation, and six years on renewable energy generation systems.
When was the article 'Net-zero will impact your business whether you have a target or not' published?
The article was published on February 16, 2021.
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