As the urgency of addressing climate change grows, businesses worldwide are under increasing pressure to reduce their carbon footprint. Achieving net-zero emissions has become a critical goal for many organisations, with 2024 marking a pivotal year in the journey towards sustainability.  

To achieve net zero, businesses must reduce their emissions as much as possible and offset the remainder through initiatives like carbon capture, reforestation, or purchasing carbon credits. 

The push for net zero is driven by several factors: regulatory pressure, consumer demand for greener products, investor preferences, and the tangible impacts of climate change on operations and supply chains. A recent report by Energy Systems Catapult highlights the importance of innovation in achieving net zero, noting that businesses that adapt early can gain a competitive edge and align with future regulations and market expectations. 

Key Strategies for Achieving Net-Zero 

Setting measurable and science-based targets is the first step for businesses on the path to net zero. This involves aligning company goals with the global aim to limit warming to 1.5 degrees Celsius. The Science-Based Targets Initiative (SBTi) provides a framework for companies to set such targets, which include short-term goals for 2024 and long-term aspirations. 

 
Transitioning to renewable energy sources like wind, solar, or hydroelectric power is one of the most effective ways to reduce emissions. Companies can invest directly in renewable projects, purchase renewable energy certificates (RECs), or enter into power purchase agreements (PPAs) with green energy providers. 

 
Enhancing energy efficiency across operations can significantly lower emissions. This includes upgrading equipment, optimising processes, and implementing energy management systems. According to the Net Zero Guide by Tritility, simple steps like improving insulation, using energy-efficient lighting, and conducting regular energy audits can make a substantial difference. 

 
For businesses involved in transport and logistics, electrifying fleets and optimising delivery routes are critical strategies. Electric vehicles (EVs) and alternative fuels such as hydrogen can help cut emissions in this sector. Companies should also explore partnerships with logistics providers that have strong sustainability commitments. 

 
Supply chains often account for the majority of a company's emissions. Businesses should work with suppliers to reduce emissions through better resource management, waste reduction, and energy efficiency. Setting standards for suppliers and encouraging the adoption of net-zero practices can extend a company's impact beyond its direct operations. 

 
Despite best efforts, some emissions may be unavoidable. In these cases, businesses can offset their carbon footprint through verified carbon offset projects, such as reforestation or investing in carbon capture technologies. However, offsets should be seen as a last resort after all possible reductions have been made. 

According to PwC's report on net-zero deals, certain sectors are leading the charge towards net-zero. For example, the technology sector is making strides with advancements in energy efficiency and sustainable product design. In contrast, the heavy industry and transport sectors face more significant challenges due to the high energy demands and current technological limitations. Companies in these sectors are investing heavily in research and development to innovate new solutions, such as green hydrogen and carbon capture and storage (CCS). 

Challenges on the Path to Net Zero 

Achieving net zero is not without its challenges. The cost of transitioning to renewable energy, the need for new technologies, and the complexity of measuring and managing emissions across supply chains are significant hurdles. Additionally, businesses must navigate varying regulations and standards across regions, which can complicate the implementation of net-zero strategies. 

A report from Ecologi highlights that many businesses struggle with the initial investment required for sustainable technologies. However, long-term benefits such as cost savings, enhanced brand reputation, and compliance with emerging regulations make the investment worthwhile. Furthermore, innovation is crucial for achieving net zero. From developing new low-carbon technologies to implementing digital solutions that optimise energy use, businesses must embrace innovation to overcome the barriers to net zero. The "Innovating to Net Zero" report by Energy Systems Catapult emphasises the role of digitalisation, advanced materials, and smart energy systems in reducing emissions. 

Conclusion 

As 2024 approaches, the drive towards net-zero emissions is intensifying. For businesses, achieving net zero is not just about compliance but also about seizing new opportunities, enhancing resilience, and meeting the expectations of stakeholders. By setting clear targets, investing in renewable energy, improving efficiency, and innovating, companies can make significant progress on their net-zero journey. Despite the challenges, the pathway to net zero offers a roadmap for sustainable growth and a more resilient future. 

To learn more about this topic, join us at Achieving Net Zero in the Public Sector Show and Exhibition to explore how the public sector responds to the challenges and the opportunities organisations utilise to promote and support Net Zero targets.

Public sector employees can use code FREE-NZ to get a fully funded ticket. Don't miss out on this crucial event for sustainability and energy security.