Green
Infographic: Emissions Change Starts at the Top
Emissions Change Starts at Top
Some of the largest companies in America are also those leading the charge toward a more sustainable future, according to a joint report by Calvert Research, WWF, CDP, and Ceres.
Today’s infographic comes from Fortune’s Nicolas Rapp, who used this data to visualize the CO2 emissions saved by 56 of the Fortune top 100 firms. In the graphic, each company’s CO2 savings are represented by an equivalent mass of coal not burned.
Big Companies, Big Goals
Nearly half (49%) of Fortune 500 companies in 2016 set targets to increase renewable energy sourcing, improve energy efficiency, or reduce greenhouse gas emissions (GHGs).
Over the course of the year, 190 of these companies managed to report a total $3.7 billion in cost savings thanks to some 80,000 emissions-reducing projects. That’s roughly equal to the impact of taking 45 coal-fired power plants offline.
Computing Giants Using Power Responsibly
Apple has done more than any other company on the Fortune list to reduce their environmental impact, saving the equivalent emissions of 35 billion pounds of burned coal. This alone would be enough to meet the year-round power consumption needs of 9.7 million homes – more than in the entirety of New York state.
What types of initiatives are they implementing to make these kinds of efforts?
According to their 2017 Sustainability Report, 96% of Apple’s electricity comes from renewable sources, including hydroelectric and solar. The company also recently issued $1 billion in “green bonds”, the proceeds of which are to be used in eco-friendly projects. This is in addition to an existing issue of $1.5 billion of green bonds from 2016.
On the other hand, Microsoft is focused on energy efficiency, with the bulk of its work going towards improving the efficiency of data centers and buildings. As of 2016, roughly 44% of the electricity used by Microsoft data centers originates from wind, solar, and hydro energy sources.
Solar Power Shines for Big Box Retailers
Walmart, the largest brick and mortar retailer in the U.S., is also one of the biggest corporate users of solar power in the country. In 2005, Walmart’s former CEO, Lee Scott, set goals for the company’s store network to be powered entirely with renewable energy.
Though they have not met this goal yet, Walmart’s adoption of solar has reduced its energy costs per square foot of retail floor space by 9% chainwide. Other companies with large installations of onsite solar panels include Prologis, Apple, Costco, Kohl’s, and IKEA.
Are Clear Skies Ahead?
With the impending review of the Clean Power Plan’s role in American energy policy, the onus on large and powerful corporations to minimize their environmental impact is now greater than ever. Though we can already see the massive scale on which these firms have been able to improve their carbon footprints, even the equivalent of 35 billion pounds of burned coal is just the tip of the iceberg.
Environment
How Carbon Dioxide Removal is Critical to a Net-Zero Future
Here’s how carbon dioxide removal methods could help us meet net-zero targets and and stabilize the climate.
How Carbon Dioxide Removal is Critical to a Net-Zero Future
Meeting the Paris Agreement temperature goals and avoiding the worst consequences of a warming world requires first and foremost emission reductions, but also the ongoing direct removal of CO2 from the atmosphere.
We’ve partnered with Carbon Streaming to take a deep look at carbon dioxide removal methods, and the role that they could play in a net-zero future.
What is Carbon Dioxide Removal?
Carbon Dioxide Removal, or CDR, is the direct removal of CO2 from the atmosphere and its durable storage in geological, terrestrial, or ocean reservoirs, or in products.
And according to the UN Environment Programme, all least-cost pathways to net zero that are consistent with the Paris Agreement have some role for CDR. In a 1.5°C scenario, in addition to emissions reductions, CDR will need to pull an estimated 3.8 GtCO2e p.a. out of the atmosphere by 2035 and 9.2 GtCO2e p.a. by 2050.
The ‘net’ in net zero is an important quantifier here, because there will be some sectors that can’t decarbonize, especially in the near term. This includes things like shipping and concrete production, where there are limited commercially viable alternatives to fossil fuels.
Not All CDR is Created Equal
There are a whole host of proposed ways for removing CO2 from the atmosphere at scale, which can be divided into land-based and novel methods, and each with their own pros and cons.
Land-based methods, like afforestation and reforestation and soil carbon sequestration, tend to be the cheapest options, but don’t tend to store the carbon for very long—just decades to centuries.
In fact, afforestation and reforestation—basically planting lots of trees—is already being done around the world and in 2020, was responsible for removing around 2 GtCO2e. And while it is tempting to think that we can plant our way out of climate change, think that the U.S. would need to plant a forest the size of New Mexico every year to cancel out their emissions.
On the other hand, novel methods like enhanced weathering and direct air carbon capture and storage, because they store carbon in minerals and geological reservoirs, can keep carbon sequestered for tens of thousand years or longer. The trade off is that these methods can be very expensive—between $100-500 and north of $800 per metric ton.
CDR Has a Critical Role to Play
In the end, there is no silver bullet, and given that 2023 was the hottest year on record—1.45°C above pre-industrial levels—it’s likely that many different CDR methods will end up playing a part, depending on local circumstances.
And not just in the drive to net zero, but also in the years after 2050, as we begin to stabilize global average temperatures and gradually return them to pre-industrial norms.
Carbon Streaming uses carbon credit streams to finance CDR projects, such as reforestation and biochar, to accelerate a net-zero future.
Learn more about Carbon Streaming’s CDR projects.
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