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Climate Change is a threat that is posing great danger to all of us. And Carbon Emission is one of the main reasons behind climate change. As of now, India finds itself in the top five carbon emitters along with China, the US, Russia & Japan (Source - https://bit.ly/3BMK0sn). It's a collective responsibility to fight against Climate Change and Companies can play an important role in this regard.

We will tell you about the exact course of action companies can take to fight climate change at an organizational level.

1. Measure and analyze the emissions

It's crucial to know for a company that how much Greenhouse gas emissions are happening at their watch & how are their existence is affecting the climate. For this, many private agencies calculate the carbon footprint and measure the organization's various emissions. Upon analyzing the situation measures can be taken to reduce the overall impact.

2. Reduce energy consumption

Reducing what is already being spent is wise than waiting it out & chasing the after-effects while watching the damage being done in real-time.

Turning off the lights in the office when not in use, Turning off the ACs when not in use. Not engage live sockets when they are not needed, etc can be some of the daily routine actions companies can take to reduce energy consumption at their end to minimize the daily addition of impact on climate.

3. Opt for renewable sources

Renewable sources of energy are again one of the best options; the organization should switch on to. Renewable sources like Solar power, Hydro Power, Wind energy, etc can be used instead of oil, coal, natural gas, etc which are exhaustible & creates an inhabitable environment for all kinds of life forms.

4. Control & Reduce waste generation

Reducing waste generation can be the most effective first-hand job for any company which will directly add value to their initiative against climate change. What it can do is; avoid using disposable cups, the number of paper prints, reusing printed papers as drafts, adopt ways for recycling correctly so that it is properly neutralized, etc can be some of the steps that can be taken.

5. Optimize employees’ transportation

As we know transportation is one of the largest sectors of greenhouse gas emissions but we don't usually consider it as an organization's problem. Well, it counts, everyday travel can bring about successively collective damage which can not be put to rest factoring the comfortability of commute. Nevertheless, introduce new ways to minimize this big chunk of your carbon emission quota. Green Vehicles which runs on CNG can be introduced to cut the emission happening from this part

6. Raise awareness

Being a crucial part of this earth, we are also accountable & responsible for how this planet has come to be. As an individual or an organization; raise awareness amongst peers, friends, colleagues, superiors, and all the stakeholders, so that the ball sets rolling everywhere.

These are some of the best ways which companies can adopt to fight climate change and turn our planet into something much better than what it already is. Continuous efforts will help us get closer and closer to win over the adversities we were doomed to face in the future.

Connect with us if you want to make a change and reduce your carbon emissions as a company/organization.

Global warming is affecting the Earth more viciously than expected. The alarming rate at which the glaciers are melting and the sea levels are rising threatens the mass extinction of every species on the planet.

To counter this challenge, governments around the world came together and have designed a market-based system called carbon trading, under the Paris Agreement, to control and regulate the carbon emitted by businesses, especially the ones that are heavily dependent on fossil fuels.

How does carbon trading work?

There are multiple models designed to facilitate carbon trading, but the recent and successful one is the Cap and Trade scheme.

Cap and Trade Scheme

In this scheme, the government sets a limit on the emission over a time period and allots a fixed number of permits to compensate for the pollution. Each carbon permit is equal to one tonne of CO2 equivalent. Therefore, companies need to track their carbon footprint to comply with the carbon trading scheme.

Businesses that effectively reduce their emissions and manage to spare some carbon credits can auction them for money. Similarly, companies who exceed their carbon emission threshold limit can purchase carbon credits from these auctions.

Carbon Offsets

Another way companies aim to compensate for their exceeding their cap limits is by buying carbon offsets in the free market. Carbon offset refers to any activity which reduces the emission of greenhouse gases elsewhere.

Usually, the sellers of these offsets are project developers who design carbon-reducing systems and technology. Hence, each ton of carbon that is avoided polluting the environment counts as one carbon offset.

Advantage of Carbon Trading

Carbon trading has collectively involved the prime polluters from the developed countries to implement technologies that reduce their emissions. As these companies are majorly dependent on fuels, they usually exceed their allotted threshold, and hence are forced to buy carbon credit from the developing nations, providing the latter with the financial aid it needs.

Carbon trading also provides the flexibility to businesses to change their operations at their own pace. For example, small businesses can easily implement the latest technologies to reduce their carbon footprint and auction the spare carbon credits. Likewise, big corporations can buy these carbon credits to compensate for excess carbon emissions.

Disadvantages of Carbon Trading

Although carbon trading has lowered the carbon emission of many businesses, the scheme is still loose-ended and can be exploited by some companies via its loopholes. As the west is adapting to the concept, there�s still a lot of room for its improvement.

Nevertheless, carbon trading schemes are a work in progress and with stricter laws and controlled demand and supply of carbon permits, the scheme can drastically help the world counter global warming

Creating a climate strategy for your company has to make it to the top 10 list of priorities while devising a cost-revenue model. That’s right; the decision you make regarding your company’s climate strategy may directly affect your cost & revenue model as you might have to pay a surplus amount if the collective damage to the environment goes up the allowed.

The credit is only due if you fall short of the limit & can come up having an actual breathable margin. So, without explaining the obvious; let's dive into how to create a climate strategy for your company.

1. Bring down the carbon emissions

Keep in check the greenhouse gases and bring the carbon emissions of the entire company. This will go a long way in helping you with minimizing the climatic impact your company is making. Usually, the corporates hire professionals on advising them to create a compensation strategy; when all this while their first action should have been to bring down the levels to an optimal minimum and then instate a compensation strategy for the damage done.

2. Bring the Scope Assessments in force

Once you have exhausted the possibility of damage reduction; bring out the big guns! Scope assessments are these big guns which help corporates in digging deep into what is making their count shoot up high. Run your organization through the fine teeth comb with these assessments & then make a decision on what kind of a strategy you need.

3. Choose power over the volume

While causing the strategy to change the face of desired results altogether: try taking powerful actions which can trigger big changes. Choosing from the heap of moves, that one which can drastically bring down the carbon footprint of your company should be your first effective power move.

Choosing a power move over a handful of small changes can really cut through the mountain of damage that your company causes to the environment. At this point, you have to drive the analysis forward with the graphical presentation & make use of past present and future timelines to extract trends & build your strategy.

4. Quantify the goals

In search of the pain points don’t get lost in the details to completely lose the grip over what’s necessary & required of you. Keep your goals quantified & let them be the flag bearer of your research & strategy building. Make the best of everything else to achieve those goals because the number will always show you the mirror against your efforts.

5. Make it large

It’s not something you should do in a private safe space & don’t let anyone know. Go all out with it & make it an initiative of the masses. Not literally, but the idea is to involve as many entities which are directly and indirectly related to the company as you can; i.e. all kinds of stakeholders. Make them an important part of your initiative as you move forward to make an impact. When they can be the part of the problems the organization causes; they will happily be the part of the solution as the organization goes on to make a huge impact through heavy CSR activities & Strategic Corporate Climatic Strategies.

We have seen a structured approach towards how to approach the agenda of making a climate strategy for an organization all the way to making it a motive to do good involving everyone directly or indirectly in question. These steps; when followed in this exact same order, will show you the ripple impact of a structured approach towards an initiative this sensitive. Apply these in order and consult us if you get stuck while dealing with it.

All the best!