Development of GHG Emission Reduction Plan

IMPORTANCE OF REDUCING GHG EMISSIONS

We are currently experiencing a climate crisis, significantly accelerated by the increase in Greenhouse Gas emissions. Temperatures are rising, affecting the climate, flora, and fauna, as well as causing a gradual rise in sea levels. For this reason, an increasing number of companies are committed to environmental stewardship with the aim of aligning with national and international proposals, such as Agenda 2023 or the European Climate Law. The latter, part of the European Green Deal, seeks to achieve climate neutrality in Europe by the year 2050.

Integration of Plans into the Overall Business Strategy

One of the burgeoning measures to combat the increase in Greenhouse Gas emissions is the development of emission reduction plans. Indeed, the Spanish Ministry for Ecological Transition and Demographic Challenge mentions this as a requirement when registering an Organization’s Carbon Footprint. But how can emission reduction plans be integrated into a company? There are various measures that companies can implement to reduce their emissions. These actions may be aligned with existing environmental certifications or be independent. Generally, initiatives are associated with economic benefits, as they involve the adoption of more efficient means and technologies. Furthermore, a company can enhance its public image by demonstrating its commitment to the environment, in addition to adding value and efficiency to the processes in which the company participates.

The first step towards reducing Greenhouse Gas (GHG) emissions is their accounting. This allows us to identify the main sources of emission. Once accounted for, it is crucial to focus on those aspects that represent a significant percentage of emissions for our company. However, we should not neglect less significant emission sources, which also cause environmental damage.

Benefits of Reducing Emissions and Other Alternatives to Achieve It

It is important to note that reducing Greenhouse Gases not only brings environmental benefits but also economic ones. Additionally, there are several programs available for companies committed to reducing their emissions, which offer multiple advantages:

  • Nationally, the gradual reduction of emissions, following the registration of the Carbon Footprint, allows companies to obtain a seal awarded by the Spanish Ministry for Ecological Transition and Demographic Challenge. This seal can be used as a distinctive feature in the company’s communications, providing a competitive advantage over other companies.
  • Internationally, there are numerous programs that reward environmental commitment. For example, the Science Based Targets initiative (SBTi) allows companies and suppliers that implement emission reduction measures aligned with science, aimed at limiting the global temperature increase to 1.5°C, to join a globally recognized network and obtain a highly valued environmental distinction.

As an additional measure to complement emission reduction, there are the so-called carbon credits. Obtaining these credits, whether nationally or internationally, allows for compensating the residual emissions that the company cannot currently reduce. Emission compensation is also recognized in the registry of the Ministry for Ecological Transition and Demographic Challenge, granting companies an additional distinctive seal to the seals previously mentioned.

This general concern about the increase in emissions means that, at this moment, there are several public aid programs in Spain that promote the development of emission reduction measures in companies, offering aid ranging from 30% to 50% non-repayable. Some notable examples include the Incentive Program for the installation of thermal renewable energy facilities in various economic sectors (RD 1124/2021) and the Aid Program for energy efficiency actions, aimed at both SMEs and large companies in the industrial sector (RD 263/2019).

In conclusion, the reduction of emissions at both an individual and business level is one of the most powerful tools currently available to contribute to the fight against climate change. For this reason, in recent years there has been a significant increase in initiatives and awareness campaigns developed with the aim of collectively mitigating the consequences and advancement of the current climate crisis.

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