We work with our suppliers and customers to encourage them to reduce their greenhouse gas emissions.
What is net zero?
Net zero emissions is achieving a balance between greenhouse gas emissions produced and greenhouse gas emissions taken out of the atmosphere. Getting to net zero means we the world, a region, a company or an operation can still produce some emissions, as long as they are offset to reduce greenhouse gases already in the atmosphere.
Why is it important?
In 2016, United Nations Framework Convention on Climate Change created and signed the Paris Agreement. The central aim of the Paris Agreement is to strengthen the global response to the threat of climate change by keeping a global temperature rise this century well below 2 degrees Celsius above pre-industrial levels and to pursue efforts to limit the temperature increase even further to 1.5 degrees Celsius.
In 2018, The Intergovernmental Panel on Climate Change’s Special Report Global Warming of 1.5°C indicated that the terms agreed in the Paris Agreement of 2015 are no longer sufficient to limit climate change. The world is off track to deliver these emissions reductions, and transformation at scale is needed to keep 1.5°C within reach. The report found all future scenarios that limit warming to 1.5°C now require removal of CO2 from the atmosphere.
the findings of this report, catalysed an explosion of interest in net zero. This report made it clear to the world’s governments that setting targets that achieved net zero by 2050 is an imperative in the necessary response to climate change. Since this report many governments and now corporates, have set their own net zero goals.
Businesses have a key role to play and while much has been done, it is essential that many more companies rapidly accelerate their progress toward net zero emissions to help reach net zero global emissions no later than 2050.
The Climate Leaders Coalition
The members of the CLC are committed to take voluntary action on climate change. The members support the Paris Agreement & Australia’s commitment to it and its objective to keep global warming to well below 2 degrees above pre-industrial levels. The members have or will set public targets to reduce emissions and have committed to working together with their suppliers and customer to encourage them to reduce their greenhouse gas emissions.
The CLC believe the responsible and equitable transition to a low emissions economy is an opportunity to improve Australia’s prosperity. The CLC provides an authentic open forum for CEOs to share the challenges of their decarbonisation journeys, provides information and case studies sharing member journeys and invite new members to join the call to action.
Pathways to Net Zero
The pathway to net zero is complex and involves transforming every part of business activities. For large organisations this is complex and challenging and need to manage the impact that the changes will have on employees and the communities and regions within which they operate. Setting targets sets the course of the trajectory but the pathway to net zero is long and complex. Some of the aspects that organisations must consider are shown below.
Source: Deloitte Decarbonisation Solutions™