Achieving net zero emissions means balancing the greenhouse gasses your business releases with those that are removed from the atmosphere. Here’s how it works:
- Significant reduction: First, you need to drastically cut your emissions. Aim for an emission reduction of all scopes at least 90% compared to your business’s chosen base year.
- Offsetting remaining emissions: For the remaining unavoidable emissions (i.e. residual emissions), you’ll need to compensate by supporting projects that remove carbon dioxide permanently. These are called durable carbon removals.
- Residual emissions limit: It's important to minimize residual emissions. They should ideally be no more than 10% of your baseline emissions.
For a deeper dive into net zero, check out The 1.5°C Business Playbook, page 5.