In today's ever-evolving world, the term ‘carbon neutrality’ has become an important buzzword and a resounding call to action for businesses. It is no longer a matter of choice but an urgent necessity – one that shapes not only a sustainable future but also questions business ethics and morals.
Did you know that globally the top 1% of the emitters emit over 1000 times more carbon than the bottom 1% and that the energy, manufacturing, and transport industry together contribute nearly 70% of the global carbon emissions. With carbon emissions on the rise each year, is your business contributing towards a sustainable future? Are you playing your part in achieving your business’s carbon neutral goals?
But do businesses really benefit from carbon neutral goals? Why are they hung over it?
Businesses increase credibility and trustworthiness when they undertake initiatives to reduce, remove, and avoid carbon emissions through careful analysis, recommendations, and the right use of technology. The number of businesses declaring a net zero target has nearly doubled in the past two years. Carbon neutrality is a concrete commitment to reducing carbon emissions across the entire supply chain to the point of achieving net-zero emissions. It signifies a businesses’ dedication to exploring innovative ways to diminish emissions or, when complete elimination isn't feasible, to balance emissions by removing an equivalent amount of carbon dioxide from the atmosphere. This endeavor goes hand in hand with the broader concept of sustainability, encompassing practices that ensure greater good for all. Apart from the ethical aspects, companies that place high emphasis on sustainability and carbon neutrality also attract investments, not to mention the positive business image it projects. They foster increased customer loyalty as more and more consumers are now shifting their preference towards sustainable products and look up to those businesses who practice it.
But what if your business finds it challenging to slash emissions significantly? Even if it seems impossible to reduce carbon emissions, businesses have a workaround: carbon credits.
Unlocking sustainability through carbon credits
Carbon neutrality is not just about reducing emissions – it is a commitment to balance the carbon dioxide released into the atmosphere by removing an equal amount. This voluntary carbon market is expected to reach between USD 10-40 Bn by 2030. For businesses that find it challenging to dramatically curtail their carbon emissions, carbon credits emerge as a powerful solution. These credits offer a lifeline by allowing businesses to invest in projects that help mitigate carbon emissions elsewhere, effectively balancing the carbon footprint. By supporting initiatives such as renewable energy projects, planting more trees, funding for education in 3rd world countries, and methane capture programs, businesses can benefit from two things at the same time – equalize their emissions and make a positive impact on their brand for the greater cause.
Carbon credits, also known as carbon offsets, are for businesses striving to reduce their carbon footprint but face limitations. It is a transparent methodology to assist track the price of unavoidable carbon emission and set an equivalent amount of credit required to neutralize the impact. When it is not feasible to eliminate emissions entirely, carbon credits offer an alternative path to achieving carbon neutrality. These credits represent investments in projects that reduce or remove carbon emissions elsewhere, effectively compensating for their own emissions. Such credits are traded in units of 1 tonne of carbon emission. It is anticipated that carbon credits worth 2 billion tonnes of carbon emission will be required to reach the 2030 target of reduction of emissions by half. This is a path forward that allows businesses to embrace a greener future, leaving a lasting legacy of environmental responsibility for generations to come.
Businesses can no longer ignore the significance of carbon neutrality. It has now become a principle and environmental imperative to ensure that business meets their climate targets. They must realize that their actions today have far-reaching consequences for the world tomorrow. Committing to carbon neutrality is a corporate responsibility and an investment in a better, more sustainable future. As many international organizations have made it known, the urgency and the path forward are amply clear: reduce carbon emissions, adopt renewable energy sources, and implement technology for far-reaching consequences. Today, we stand at the crossroads where technology companies have an opportunity to estimate the aftermath of years of pollution and shape a future where carbon neutrality is the path forward to ensure a safe world!
Building carbon credits is one such way where technology companies can promise carbon neutrality and commitment towards a net-zero carbon environment. Infogain understands that every business is unique and faces distinct challenges when it comes to carbon emissions. It is committed to empowering its clients to navigate the sustainability landscape effectively, even when eliminating emissions entirely isn't a viable option. As a digital partner towards a carbon neutral environment, its approach is clear: when businesses cannot entirely cut down carbon emissions, it helps invest in carbon credits strategically. In one instance a giant logistics company was facing difficulties quantifying their carbon emissions, and they had a goal of carbon neutral operations by 2040. Infogain assisted them in building a platform on Microsoft Azure which calculated their emission and counterbalanced the impact. It ensured that the investments that the client makes have a genuine, measurable difference.
So why wait? Are you looking towards sustaining a sustainable future for your business? Connect with us today and together we can explore the possibilities of building a carbon-neutral environment.