Why do we need to measure carbon emissions?
Carbon emissions are one of the major contributors to climate change. They are also responsible for global warming, which is a concern for humanity. Their increase has led to a rise in the average global temperature of the earth's surface and oceans, and which is causing more frequent natural disasters, floods, droughts, extreme weather events and more.For this reason, we need to keep track of our carbon emissions in order to know how much we are contributing to the problem. Although it is not always easy to determine how much carbon emissions are released, we can measure emissions by using numerical models that calculate the number of grams of carbon dioxide emitted per kilowatt-hour by the activities that are carried out by any entity. This can range from major institutions to companies, households and even down to an individual level.
Corporations and companies emit higher emissions as a result of their activities. They have to do their best to reduce their emissions in order to be environmentally friendly and act sustainably. There are many practices that organisations can do in order to reduce their carbon footprint and be more sustainable.
What does a Carbon Footprint actually mean, and how to calculate it?
A Carbon Footprint is a measurement of how much carbon dioxide, methane and nitrous oxide are emitted in the production and consumption of energy and goods. It can be measured in tons of carbon dioxide or in carbon dioxide-equivalent. The term "carbon footprint" was developed from the concept of ecological footprint as developed by William Rees and Mathis Wackernagel in the 1990s.
There are various ways in which companies can determine their carbon footprint for a given time period. The estimation of their carbon footprint can provide insights into current energy consumption and their related emissions by using their electricity meters to track how much electricity they use. They can also calculate how much fuel they use by estimating the amount needed for all their vehicles and making their transportation logistics more efficient, economic and more environmentally sustainable. In so doing, companies can pinpoint those activities that are resulting in higher emissions and substitute them through process reengineering from-design-to-operation.
A few simple steps to reduce your carbon emission as a corporation or a company
It is important for businesses to reduce their carbon emissions. This can be done by taking a few simple steps. Ultimately, the most cost-effective way for them to decrease their carbon footprint is to switch to energy efficiency means. They can also do so by switching to the use of renewable resources, by improving the efficiency of their operations and by reducing waste generated by their activities. The inclusion of electric cars and vans as part of their transport logistics for example, can drastically reduce its carbon dioxide equivalent emissions. Companies can even go as far as introducing incentives that would encourage the use of green or public transport to its employees by offering discounts to those who use them. Ultimately this will be reflected in a much-lowered carbon footprint for the organisation. Another approach is for companies to make sure they are buying products with less packaging, which will reduce emissions and waste as well as help with recycling.How does the Carbon Footprint relate to the Environment Social Governance Framework (ESG)?
The global economy needs more sustainable investments to solve the world’s environmental, social and governance problems. The ESG (environment, social, governance) framework is a strategy that investors use to align their portfolios with their values and beliefs. This framework is built on the idea that investing in companies that are environmentally-friendly, socially responsible and honest, transparent and accountable can create more sustainable returns. ESGs are becoming increasingly important as customers are more and more aware of what goods and services they are buying. The Carbon Footprint estimation offers not only the measurement of the Environmental component of ESG but can also provide a clear and precise way for companies to become truly environmentally sustainable.
Charles Galdies PhD is a professor of Earth Systems Science at the University of Malta. He can be contacted at cgaldies@gmail.com.