Net-Zero Emissions
The planet is heating up and this is damaging the natural world. In Paris in 2015, it was agreed that keeping average global temperatures from rising more than 1.5 – 2°C would prevent the most severe impacts of climate change. To meet this goal, unanimously the planet will need to reach net-zero emissions by 2050.
Reaching net-zero emissions means balancing sources and sinks of harmful greenhouse gases (GHG). In other words, emissions released into the atmosphere – such as those from burning fossil fuels – must be matched with the removal of emissions from the air in the same quantity, if not more. The process of absorbing emissions can be ‘natural’ such as through forest restoration, or utilise technologies such as Carbon Capture and Storage/Utilisation; a process which takes carbon dioxide (CO2) from the air and stores it underground or uses it as input for other processes. Today, global GHG emissions are at dangerously high levels, exceeding nature’s capacity to remove them through services provided by the ecosystem. This is where talk of deploying technologies to assist the process comes in.
A growing number of governments and businesses are incorporating net-zero targets into their strategies. Yet, commitments by governments and businesses to reach ‘net-zero’ can be nuanced in meaning and while subtle, the use of varying terms influences what we can expect from them in years to come. For instance, net-zero emissions (sometimes called climate neutrality) refers to the balance of all GHGs whereas a commitment to net-zero CO2 (carbon neutrality) refers only to the balancing of carbon dioxide. CO2 is just one -although the most prevalent- of the multiple GHGs that cause global heating and therefore commitments to net-zero CO2 are less ambitious and possibly restrictive in positive environmental impact.
Actually achieving net-zero emissions will be no easy feat and it is generally agreed that all available mechanisms will need to be leveraged for such a monumental challenge. 2020 was a significant year for bold climate commitments but the real work is still to be done. It now begs the questions; how and by whom will emissions reductions be realised so that individual action and systemic change are not working in opposition?