They intend to do this through a combination of cutting emissions and removing carbon from the atmosphere.
Tracking and quantifying emissions, understanding output, reducing them, and setting tangible targets that can be worked towards are all central to tackling climate change and reducing greenhouse gas emissions – especially when it comes to carbon dioxide (CO2). Emissions and energy consumption reporting is already common practice and compulsory for businesses over a certain size in the UK. However, carbon accounting takes this a step further.
What is carbon accounting, and how does it differ to carbon reporting?
“Carbon reporting is a statement of physical greenhouse gas emissions that occur over a given period,” explains Michael Goldsworthy, Head of Climate Change and
Carbon Strategy at Drax.
“Carbon accounting relates to how those emissions are then processed and counted towards specific targets. The methodologies for calculating emissions and determining contributions against targets may then have differing rules depending on which framework or standard is being reported against.”