Climate change is an urgent issue of global concern due to the serious impacts of human activities on the living environment. Therefore, carbon emission reduction activities are playing a key role in the process of pushing back the increasing greenhouse effect. So let's join GREEN IN Learn about net zero emissions through the article below!
1. What is net zero emission?
According to the IPCC - Intergovernmental Panel on Climate Change, net zero emissions, also known as zero net emissions, are the result of the balance between greenhouse gas emissions emitted and removed from the atmosphere. This means that within a certain period of time, new emission activities will be completely eliminated and create conditions to minimize the amount of emissions existing in the atmosphere.
By 2050, we need to achieve net zero emissions if we are to ensure the survival of humanity. Therefore, cooperation, support and tireless efforts from all sides are essential. Only solidarity and a willingness to act together can we reverse the current climate change crisis.
2. Distinguish the concept of net zero emissions from carbon neutral
Although both net zero emissions and carbon neutral are concepts within the category of carbon emission reduction, they will have differences such as:
| Net Zero emission | carbon neutral | |
| Concept | Is the achievement, the result of the equilibrium of greenhouse gas emissions released into the atmosphere by eliminating human emission activities over a certain period of time. - According to IPCC | The balance between the amount of carbon dioxide (CO2) released into the atmosphere and the amount of carbon removed from the atmosphere. - According to IPCC |
| Gas type | All greenhouse gases | Carbon gas |
| Characteristics | There is no additional CO2 emission into the atmosphere. | Although a certain amount of carbon is emitted into the atmosphere, an equivalent amount of gas will be removed. |
| Limit | Scope 1: Direct emissions from company operations, indirect Scope 2: Emissions from purchased energy. Scope 3: Emissions from upstream and downstream. | Scope 1: Direct emissions from company operations, indirect Scope 2: Emissions from purchased energy. |
| Type of carbon credits used | Carbon removal credits. | Avoided, reduced and eliminated carbon credits. |
It can be seen that the difference between net zero emissions and carbon comes from factors such as scope, achievability as well as standards. In particular, the net zero emissions target has posed greater challenges in the process of reducing emissions and requires eliminating indirect emissions from the supply chain and consumers.
3. The important role of net zero emissions for businesses
If emissions continue to increase, climate change will become more and more serious, leading to the destruction of the Earth and the collapse of all humanity. Therefore, realizing net zero emissions is extremely important.
Scientific evidence has shown that to minimize the serious consequences of climate change and protect human survival on Earth, we must control the increase in global temperature to no more than 1,5°C above pre-industrial levels.
The Earth’s average temperature has already risen by about 1,1°C since the late 19th century, while emissions continue to rise. To keep global warming below the 1,5°C threshold set by the Paris Agreement, emissions need to fall by 45% by 2030 and reach net zero emissions by 2050.
This poses no small challenge for businesses, but at the same time opens up opportunities for them to affirm their commitment to a sustainable development future.
4. What are the ways to achieve the net zero emissions target?
To achieve net-zero, businesses and organizations need to prioritize minimizing emission sources in all three areas, the remaining emissions that cannot be eliminated (according to SBTi, only 3% of total emissions) can be offset by carbon credits. This requires changes from optimizing production processes, using low-carbon raw materials and using environmentally friendly energy sources or enhancing the process of eliminating greenhouse gas emissions to help realize the goal of net zero emissions. Some ideal strategies to help move towards net zero emissions include:
4.1. Comply with the carbon neutral roadmap and achieve net zero standards at the enterprise
Following a clear roadmap will help businesses follow a certain, standard direction to quickly and effectively achieve the net zero emissions target.
Carbon neutral roadmap
- Step 1: Greenhouse gas inventory covering scope 1,2.
- Step 2: Review the greenhouse gas inventory report.
- Step 3: Plan and implement greenhouse gas emissions reductions.
- Step 4: Offset the carbon deficit through carbon project investment or carbon credit purchase.
- Step 5: Carbon Neutral Certification.
Roadmap to achieving net zerp standards in businesses
Step 1: Greenhouse gas inventory includes scopes 1, 2, 3.
Step 2: Review the greenhouse gas inventory report.
Step 3:
- Plan to reduce emissions.
- Set short-term and long-term goals.
- SBTi report.
Step 4:
- Take measures to reduce greenhouse gas emissions to a minimum.
- Offset your carbon with the Carbon Removal project.
Step 5: Net Zero Accreditation by SBTi.
4.2. Production and use of low-emission energy sources
Renewable energy sources such as wind energy, solar energy, and bioenergy are the perfect solution to help achieve the goal of net zero emissions. Not only that, producing low-emission electricity also contributes to reducing carbon from the energy supply, and can be combined with other energy sources to ensure a stable and continuous power supply.
4.3. Replace fossil fuel-powered equipment and vehicles with electricity
Switching to electric vehicles and equipment will help minimize carbon emissions produced in production and transportation activities. In particular, emissions will be reduced to the maximum when the use of electric trucks/cars and electric cooling/refrigeration systems for architectural works is widely applied, producing hydrogen fuel to run vehicles using batteries.
4.4. Optimization in energy use
Optimizing energy use and applying energy-saving measures in production processes and daily operations will help reduce energy consumption and cut carbon emissions. In addition, integrating modern digital technologies in monitoring and control to detect losses, real-time monitoring to support more efficient energy use is also a way to help realize net zero emissions.
4.5. Carbon dioxide needs to be removed from the atmosphere
After businesses have applied measures to minimize carbon emissions, the remaining amount can be offset with carbon credits through investing in carbon credit generation projects or purchasing carbon credits removed from projects such as afforestation, forest regeneration, biochar production for soil improvement or emission capture...
5. Costs to achieve net zero emissions target
According to calculations, in the period 2011-2020, extreme climate has caused serious economic damage, with a total estimated loss of VND 229.958 billion (equivalent to USD 10 billion, at 2022 exchange rate). Without appropriate adaptation and mitigation measures, climate change is estimated to cause Vietnam to lose about 12% to 14,5% of GDP each year by 2050 and could push up to one million people into extreme poverty by 2030. - According to information from the WB study on the impact of climate change in Vietnam
What is the net zero emissions target that will be achieved by 2050 with significant investment? The latest report from the Committee on Climate Change has shown that the annual cost of achieving the net zero emissions target is estimated to be around 0% of GDP in the early 0,6s, falling to 2030% by 0,5. Investment in low carbon technologies is expected to increase from around £2050bn in 10 to £2020bn by 50. While these figures may seem large, they are a fraction of the cost of tackling the dire consequences of global climate change. This is crucial to ensuring the sustainability and safety of the future of the Earth.
The goal of achieving "net zero emissions" is a focus of special concern to the State and Government of Vietnam. At the COP0 Conference on Climate Change organized by the United Nations in Glasgow in 26, Prime Minister Pham Minh Chinh pledged to gradually eliminate coal-fired thermal power by 2021 and achieve net zero emissions by 2040.
Vietnam’s National Climate Change Strategy has set a target of reducing emissions by 43,5% by 2030 with support from international partners. The strategy also sets out specific emissions roadmaps for each sector by 2030 and 2050, along with detailed solutions to achieve these commitments.
However, financing Vietnam’s energy transition is a major challenge. McKinsey estimates that Vietnam could reduce emissions across all sectors by 80% to 90% at a cost of $24 per ton of CO2 equivalent or less. For the transport sector, if Vietnam wants to achieve net zero emissions, a high-speed rail system needs to be in place by 0. Estimates suggest that the cost of building this system could exceed $2040 billion.
6. Conclusion
The above article has helped you learn about the concept of net zero emissions. Hopefully, our information will be of some help to you as well as contribute to improving the environment to be greener - cleaner - more beautiful. Don't forget to follow the next articles of GREEN IN to get more updated information!