What is the role of carbon accounting in net zero?

Measurement and tracking

Carbon accounting involves measuring and quantifying the total amount of GHGs emitted by an organisation, business, project, or even an individual. This includes not only direct emissions (e.g., from burning fossil fuels) but also indirect emissions (e.g., from electricity consumption). Carbon footprinting calculates the total GHG emissions associated with a particular product, service, or activity. Both methods provide a baseline for understanding current emissions levels and tracking progress toward emission reduction goals.

Identifying emission sources

Carbon accounting and footprinting help identify the sources of emissions within an organisation's or system's operations. This information is critical for prioritising actions to reduce emissions. By identifying the major sources of emissions, organisations can focus on areas where emissions reduction efforts will have the most significant impact.

Setting reduction targets

To achieve net-zero emissions, organisations need to set clear and ambitious reduction targets. Carbon accounting and footprinting provide the data necessary to establish realistic targets. These targets could involve reducing emissions to a specific level by a certain date, transitioning to renewable energy sources, improving energy efficiency, or adopting other emission reduction strategies.

Implementing mitigation strategies

Carbon accounting and footprinting help organisations understand which activities contribute the most to their emissions. This information enables the implementation of targeted mitigation strategies. For instance, an organisation might decide to invest in energy-efficient technologies, switch to renewable energy sources, promote sustainable transportation options, or adopt carbon capture and storage technologies.

Monitoring and reporting progress

Regular monitoring and reporting are essential to ensure that emissions reduction efforts are on track. Carbon accounting and footprinting allow organisations to measure their progress toward net-zero goals and make adjustments if necessary. Transparent reporting also enhances accountability and helps stakeholders understand an organisation's commitment to sustainability.

Verification and credibility

Accurate carbon accounting and footprinting enhance an organisation's credibility and reputation in terms of sustainability efforts. Third-party verification of emissions data can provide independent confirmation of an organisation's claims, making its net-zero commitment more credible.