Emissions reduction and access to innovative technologies for businesses.
From extreme weather events to record-breaking temperatures – let's think about April 14th, recorded as the hottest day in 26 years in Mexico City by the National Meteorological System –, not to mention rising sea levels; the effects of climate change are becoming increasingly evident, underscoring the urgent need to act.
As we celebrate Earth Day, it's a perfect time to reflect on the importance of transforming carbon emissions into a valuable resource for a new economy based on green awareness. To achieve this, new technologies that enable the capture of carbon dioxide and its conversion into chemicals and fuels are already changing the face of the climate change villain, turning it into a valuable resource.
The first Earth Day took place over 50 years ago, on April 22, 1970, emerging due to growing concerns about air pollution from cars and manufacturing activities, sparking significant interest in the strong impact of emissions on the environment and health.
Today, it represents an opportunity for many to reflect and act on caring, rescuing, and respecting our planet. However, concern has escalated over these 50 years, reaching all areas and industries, from individuals to large corporations, leaving a significant responsibility for each person and company to contribute. Hence, the action taken by companies around efforts to reduce and transform emissions is fundamental.
The success of a net-zero transition in the business ecosystem requires achieving not just one, but two main objectives: emissions reduction and accessibility.
Emissions Reduction
In addition to increasing the use of recycled materials and reducing the use of non-renewable resources, an important step for companies is to reduce Scope 1 emissions, meaning direct emissions from sources owned or controlled by the company – on-site energy, natural gas, fuel, refrigerants, boiler and furnace combustion emissions, as well as fleet vehicle emissions – and Scope 2 emissions, which include indirect emissions of greenhouse gases from purchased or acquired energy.
Reducing emissions of gases like CO₂ or methane in these two scopes is fundamental because, according to Climate Partner, carbon dioxide remains in the atmosphere for several thousand years, while methane, a super polluter and the second-largest contributor to global warming, remains in the atmosphere for about 11.8 years.
According to McKinsey, methane has 84 times more warming potential than CO₂ over a 20-year period, and five industries represent 98% of methane emissions - agriculture, oil and gas, coal mining, solid waste management, and wastewater management - if companies in these sectors were to take action, they could reduce emissions by 20% by 2030 and 46% by 2050, but they require a significant ally: cost-effective reduction technologies.
Estimates from the same research suggest that 90% of the CO₂ reduction needed to achieve net-zero emissions goals is possible using climate technologies. Companies can choose from various approaches to incorporate solutions that reduce their carbon footprint and transform their offerings; this has the potential to improve existing models and markets and create entirely new ones. Similarly, they can leverage the customization that technological solutions offer and support the development of more disruptive ones.
Accessibility
Sustainable operations begin with comprehensive action: with low-carbon inputs, implementing low-emission processes, and controlling emissions throughout the value chain. However, one of the biggest obstacles preventing companies from including technologies that allow them to initiate these low-impact operations is cost, as the vast majority of current technologies are extremely expensive.
If more low-emission technologies become competitive in terms of price, it will be more likely that capital will flow towards them. And if investment in the transition creates more opportunities for companies to compete, the transition is much more likely to be adopted. Affordable solutions enable transformation from day one, as it helps companies allocate their capital where it's needed to sustain the transition.
Accessible solutions, like Oxtron's, a comprehensive and adaptable solution for managing environmental impact through a technological service that allows measuring companies' carbon footprint based on standardized methodologies, measurement software, capture technology, and reporting systems, offer three fundamental advantages:
Allowing invested capital to have an immediate impact on the company's reductions, making it eligible for financing and opportunities offered by the government.
At the same time that the business progresses in its emissions reduction, it allows for the creation of new products that enhance its competitive capacity and expand its market.
Contributing to the capture of greenhouse gases, thereby joining local and global efforts to mitigate global warming and its associated effects.
Through accessibility to technologies for capturing, reducing, and monitoring gas emissions, companies unlock other transition objectives and environmental risk mitigation goals, such as reliability and industrial competitiveness. Together, emissions reduction, accessibility, and these latest objectives yield a resilient and trustworthy strategy against climate change, ensuring that we can continue celebrating more Earth Days in the future, with an increasingly healed environment.
To become part of the companies already contributing to reducing climate change and accessing new opportunities that emission reduction technology can offer, Oxtron is your best ally in the transition to net zero.
Comments