There is an increasing demand to safeguard the natural environment, and attaining sustainable growth in business without environmental cost is equally important. Companies are becoming increasingly eco-friendly to reduce the negative impacts of climate change, which is accomplished through carbon accounting techniques.
To combat climate change, everyone is making the most efficient carbon mitigation. Today, it is common to observe firms avoiding making decisions that could negatively impact carbon reduction.
What exactly is Carbon Accounting?
This practice is targeted to calculate the number of carbon emissions a nation or business emits and set targets to cut it down. It is also known as greenhouse accounting. It involves calculating the climate impact of the greenhouse gas (GHG) emissions inventory, an inventory of emissions from GHG that a firm produces.
The world is awakening to the threat of climate change. Many companies aim to be carbon-neutral by transparently reporting their carbon reduction initiatives. Carbon accounting falls into two groups:
The accounting of physical carbon entails measuring direct carbon emissions from industries into the Earth’s atmosphere. It is also known as the carbon dioxide (GHG) inventories.
When the volume of carbon emitted to the atmosphere is determined, a reduction goal has been set by an industry or a company. This helps to assign responsibility to various parties for the carbon emission they contribute to.
Financial Carbon Accounting, on the contrary, is designed to provide carbon emissions generated and absorbed into the economic value. Accounting for financial carbon is built on the price of carbon emissions which can be sold on carbon markets.
This novel financing tool allows companies to offset their carbon emissions using credits through sustainable goods.
What is the reason Carbon Accounting is Important for Your business? Each company has a part in the control of carbon emissions. Being aware of the quantity of carbon your business produces helps you set a reduction goal. It provides an understanding of the extent and magnitude of carbon emissions from your company and allows you to make educated decisions to implement mitigation strategies.
The reduction of carbon dioxide emissions equals the decrease in financial costs associated with the energy crisis. Like you, energy is expensive. Thus the carbon emissions are cut down, and when cheaper and more renewable energy is focused on, production expenses decrease, meaning that businesses can lower costs when producing.
When it is possible to tackle environmental issues such as carbon dioxide, an organization increases its credibility with the general public, which can impact consumers’ choices. It’s a fantastic way to boost a company’s public relations because research has demonstrated that people are more inclined to trust companies that have longer-term goals in the environmental field.
Six Ways to Grow Your Business by going green
Although carbon accounting can make it possible to analyze the emissions produced by an organization, The success of carbon audits solely relies on how it is used by those involved. Here are 6 ways to grow your company’s sustainability by implementing green practices.
1. Move To A Renewable Energy Supplier
Switching to a renewable energy provider will lower your carbon footprint by cutting down on the entire scope of emissions related to your company. Look for green tags, often called Renewable Energy Certificates (RECs).
These are certificates of energy that aren’t tangible and can be traded. They demonstrate that a renewable energy source generates one megawatt-hour (MWh) of electricity.
2. Digitize Your Business’s Carbon Accounting
Whatever eco-sustainable practices you employ in your company, there will be certain GHGs when conducting the business. Digitalizing your carbon accounting across all areas can be a fantastic way to ensure you can cover the gap.
Carbon tracking technology can assist in cutting down on emissions. This can be accomplished through the help of Greenly. The climate software will help you understand your carbon-based accounting system and aid you in understanding what you should do to reduce your carbon footprint shortly. It could help you with offsetting initiatives that are long-lasting for the long run and provides precise carbon footprint information regardless of the company’s size.
3. Cut Your Carbon Footprint By Air Travel and Commuting
Make a conscious effort to reduce your travel and use software programs like Zoom and Skype for conferences. When traveling domestically, you can make use of trains. Additionally, think about implementing a cycle-to-work strategy to motivate employees to choose less carbon-intensive forms of transportation.
Another option to lessen the emissions during a journey is to implement remote working models. The remote work model completely eradicates emissions generated by a commuter’s day and decreases the use of electrical appliances in the workplace.
4. Increase the efficiency of your Heating and Cooling Systems
Set up temperature controls to regulate air conditioning and heating. It is preferential for the temperatures of your workspace to be correctly set. There is no need for opposing temperature control systems to overlap because this will use up a lot of energy.
Inform your employees about saving energy. This includes lowering temperatures in workplaces. Ensure the boiler is maintained regularly to ensure it’s working how it is supposed to. The most efficient boilers convert around 92% of consumers’ energy to usable points. Still, they use just 8% of the carbon-based energy derived from fossil fuels like fuel combustion.
5. Reuse and Recycle
When you are sourcing your goods, Utilize recycled products whenever you can. Use sustainable purchasing when purchasing products like phones, packaging, paper, and laptops—ensure the company has a system of recycling programs.
Furthermore, the option of second-hand furniture is something to consider. This reduces demand for natural resources and won’t take a toll on your pocket.
6. Print as minimally as is possible
The paper used in offices can also leave a significant carbon footprint. A typical office worker consumes around 10,000 copies of reports per year. Paper usage is an essential contributor to the carbon footprint. Concentrate on digital systems and eliminate paper-based systems. But, it’s best to take your time as the data centers leave a huge carbon footprint.
Conclusion
Organizations are drastically cutting their total GHG emissions to be completely green enterprises. Because of pressure from their stakeholders and climate change, numerous businesses are publicizing their carbon footprints. The suggestions given above can help your business change to more carbon-neutral practices and be a part of the historic change.
