In recent years, the most devastating natural disasters have been recorded, and many lives and properties have been lost.
The earth today faces many dangers due to carbon emissions. The effects of climate change are visible in today's world. From rising sea levels to increasing temperatures and excessive rains, the earth today suffers the consequence of carbon emissions. Human activities have continued to release more and more carbon into the atmosphere. These actions have consequences.
In recent years, the most devastating natural disasters have been recorded, and many lives and properties have been lost. These disasters include flash floods, forest fires, droughts, high temperatures, storms, and hurricanes. There is a need to mitigate these effects of climate change and rescue the planet. The solution to the menace points to one thing; reducing carbon emissions.
To prevent further destruction, individuals, and corporate bodies need to take responsibility and tackle this challenge head-on. Companies need to know and control the amount of GHG they emit. Carbon accounting is a necessary assessment for every company. It is a great way to reduce GHG presence in the environment. Before going into that, it is crucial to understand the sources of the emissions.
Sources of carbon emission
Greenhouse gases are emitted as a result of human activities. Transportation, manufacturing and processing, Agriculture, and many other activities have introduced greenhouse gasses into the atmosphere. Here we'll spotlight a few of these industries and their emission manners:
Agricultural activities accounted for about 11% of GHG emissions in 2020. These emissions emanate from livestock production.
Electrical power generation
Electricity is generated by burning coal, petroleum products, and natural gas. Although electricity can also be generated from water, a large chunk of electrical power is produced by burning fuels and natural gas. This activity was responsible for 25% of GHG emissions in 2020. It is a form of direct GHG emission.
The process of manufacturing requires energy. Here, GHG emissions can be direct and indirect. The energy needed for this activity is derived either by burning fossil fuels or from electricity. Direct emission happens when fossil fuels are burnt to generate power. The resulting emission when fossil fuels are burnt to generate power for production is an indirect emission.
Commerce and residence
GHG is emitted in homes and businesses when fossil fuels are burnt for heat energy. About 13% of GHG emissions in 2020 emanated from households and businesses.
Understanding carbon accounting
Carbon accounting is a necessary practice in the world today. It is an evaluation performed to calculate the amount of carbon dioxide emitted by an entity. With carbon accounting, companies are aware of the amount of carbon they release into the atmosphere. This practice is crucial in allowing companies to know the number of carbon credits they have to acquire to offset their past emissions.
Companies can trade or exchange carbon credits with individuals and corporate bodies when they know their emission levels. scope 3 is one of the tools for businesses to measure their carbon emission in line with the Paris Agreement Report.
Forms of emission according to carbon accounting
Emissions are grouped into two forms and they are :
- Direct emission
- Indirect emission
Emissions are direct when they emanate from the burning of fossil fuels. Direct emissions are consequences of industrial practices, automobile operations, and fuel leakages.
Emissions are indirect when they come from electrical generators or appliances that require the use of fossil fuels.
Some emissions do not emanate from the sources discussed. These emissions are not clearly grouped as direct or indirect due to their connection to both categories. Waste disposal and landfills are good examples.
Why is carbon accounting crucial
It is highly advantageous for companies to know their carbon footprints. Carbon accounting aims to quantify GHG gasses emitted and assign them a value so that they can be traded in the carbon market. The goal of many entities is to reduce their carbon footprint to a minimal level. An entity can be held accountable based on how much carbon they emit. Carbon accounting is a vital process that helps to quantify and report company emissions.
The first step to ensuring reduced GHG emissions is to know how much of these gases your company emits. To cut your company's emissions, you must do carbon accounting.
How does carbon accounting benefit your company
Doing business today comes with many considerations. Recently, climatic factors have pushed companies to adopt environmentally sustainable practices. Awareness of the environment while going about your business dealings is crucial. Investors now demand business owners before any form of partnership puts that environmental factor in place.
Knowing your carbon footprint is the genesis of meeting environmental demands. Carbon accounting lets you know your carbon footprint and ensure that you are accountable for your emissions. Carbon accounting provides you with data that help achieve your goal of reduced emissions.
Reducing your emissions with Greenly
If you want to reduce the emissions of your business, it is only vital to employ the best hands. Greenly is one entity that can help you achieve environmental sustainability. Greenly will account for your GHG emissions and develop brilliant Corporate Social Responsibility (CSR) strategies for your operations. Start working with Greenly today!
The world is gradually moving away from fossil fuels and towards green energy. The standard industrial practice today requires that you consider environmental sustainability as much as profitability. It is crucial to know the vital steps to take. The green revolution is up and running. The first step towards sustainability is calculating your carbon emissions using Greenly.
Tatiana is the news coordinator for TravelDailyNews Media Network (traveldailynews.gr, traveldailynews.com and traveldailynews.asia). Her role includes monitoring the hundreds of news sources of TravelDailyNews Media Network and skimming the most important according to our strategy.
She holds a Bachelor's degree in Communication & Mass Media from Panteion University of Political & Social Studies of Athens and she has been editor and editor-in-chief in various economic magazines and newspapers.