Everyone will probably have heard and seen the term “Net Zero” on the news, in papers and social media. Put simply, net zero refers to the balance between the amount of greenhouse gas produced and the amount removed from the atmosphere.
We reach net zero when the amount we add is no more than the amount taken away. The UK Government has made a commitment to reach net zero by 2050 which aligns with the United Nations goal that enables the global temperature rise to be held to 1.5C above pre-industrial levels.
Incentive Carbon Management, a division of Incentive Consultancy Ltd, has helped our Group to put in place a plan that will enable the business to operate at Net Zero by 2030 at the latest. We achieved a net reduction of 9% in fy 20/21 in our carbon intensity indicator that measures average carbon emissions per £ turnover. This commitment is being independently verified by Planet Mark.
We have developed a 5 step data driven process that establishes a strategic commitment of the board, measures the current carbon emissions starting point, designs various measures to help transform business processes, mitigate and reduce the carbon emissions. A communication and engagement plan reaches out to staff, clients and the supply chain and the results are regularly transparently reported to demonstrate good governance.
Emissions are categorised as Type 1, 2, or 3 , with the first two categories carbon emissions data typically available for conversion from normal business information. Type three emissions calculation and monitoring will probably involve introducing revised processes for supply chain management as the scope is quite complicated and extensive.
A variety of carbon reduction measures form part of the transformation plans. These include avoidance through changing behaviours such as a hybrid mix of face to face and virtual meetings for example. Reduced emissions through improved temperature control and timing as well as setpoint alterations are making a demonstrable impact too. Other measures like greening the fleet with electric vehicles being the default selection where possible also assist. Sourcing local products and reducing their carbon delivery miles through revised procurement policies bring double benefits through keeping the pounds local. There are also tax incentives for qualifying carbon reducing investments that allows companies to save 25p in the £1 invested.
We are currently assisting a number of forward thinking clients on their “Race to zero”, with the UK chairing COP26, the UN climate change conference in Glasgow later in the year, there’s never been a better time to go green along with reducing your overall expenditure/tax and avoiding potential carbon tax hikes that may be coming too!