What distinguishes Carbon Neutrality from Net Zero?

Carbon neutrality and net zero are climate pledges made by businesses and organizations to balance out their harmful gas emissions. The difference between the two lies in the type of gas they target and the scope they cover. Carbon neutrality focuses on neutralizing carbon dioxide (CO2) emissions, while net zero tackles all greenhouse gas (GHG) emissions. Achieving carbon neutrality is easier than reaching net zero, which requires accounting for all GHG emissions and reducing them meaningfully. The use of carbon offsets is common in achieving both carbon neutrality and net zero, with carbon credits representing a tonne of carbon reduced or removed.

The first step in achieving carbon neutrality is calculating a business’s carbon emissions or greenhouse gas emissions accounting. Companies must identify their sources of emissions using the three scopes – Scope 1, Scope 2, and Scope 3. Once a business establishes its CO2 footprint baseline, it can move on to neutralizing emissions. Companies can reduce CO2 emissions by shifting to renewable energy sources, improving business processes’ efficiency, or investing in environmental projects through carbon offset credits.

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Carbon offsetting neutralizes hard-to-abate emissions by removing CO2 from the atmosphere. Carbon offset projects vary widely, from afforestation and reforestation to developing or deploying clean energy technologies. Companies and individuals can use carbon offset programs to choose the right offset project to support based on project type, offset quality, and certification.

Carbon neutrality and net zero commitments are critical in the fight against climate change, and achieving carbon neutrality is a good starting point for businesses to manage their carbon footprint. Carbon offsets are a common means of neutralizing businesses’ hard-to-abate emissions, with demand projected to grow as global efforts to hit net zero intensify. As global demand and the market size grow, carbon offset programs will play a vital role in supporting corporate emission reductions.

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