Net Zero - Why 2050?

Net zero can be defined as cutting greenhouse gas (GHG) emissions to as close to zero as possible, with any remaining emissions being removed or mitigated. Under guidance from the Science Based Targets initiative (SBTi) companies can claim they have achieved net zero when they have reduced their emissions by at least 90% against their baseline year, and neutralised any remaining emissions through permanent carbon removal. 

While net zero may seem challenging for most, it is imperative that individuals, private organisations and governments are working towards this ambitious achievement if we are to secure a sustainable future for future generations. If we want to avoid the mounting impacts of climate change, which are already being documented, global emissions must reduce by 45% by 2030 and reach net zero emissions by 2050. This will keep us in line with the latest scientific projections for climate change impacts outlined below.

As laid out by the Intergovernmental Panel on Climate Change (IPCC), in order to prevent the worst impacts of climate change it is imperative that we limit global warming to 1.5oC above pre-industrial scales. To limit warming to these levels we must reduce the amount of GHGs emitted by humans, preventing further warming and ultimately allowing global preindustrial GHG levels and temperatures to return. 

Why get onboard?

Some companies may shy away from voluntary measurement and reduction, however, there is mounting legislative pressure from governing bodies who are aiming to align with their obligations under the  Paris Agreement. This is a legally binding commitment signed by numerous nations in 2015 at the United Nations Climate Change Conference (COP21). It commits signees to:

• substantially reduce global greenhouse gas emissions to hold global temperature increase to well below 2°C above pre-industrial levels and pursue efforts to limit it to 1.5°C above pre-industrial levels, recognizing that this would significantly reduce the risks and impacts of climate change
• periodically assess the collective progress towards achieving the purpose of this agreement and its long-term goals
• provide financing to developing countries to mitigate climate change, strengthen resilience and enhance abilities to adapt to climate impacts.

 The EU has already started to implement import/export regulation with regard to carbon emissions, with the UK and other international bodies expected to follow suit in coming years. In order to stay ahead of such developments we would recommend companies begin their net zero journeys as soon as possible to future proof their businesses with regard to evolving international carbon management pressure.

While most companies are currently under no obligation to reduce emissions and pursue net zero, early adopters are leading the way in innovation and gaining international recognition for doing so.