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2050 Modelling Shifts Net Zero Leadership to Industry

Written by Marita Doak on 30 November 2021

The Australian Government commitment to net zero emissions by 2050 could well be the embodiment of former Indian Mahatma Ghandi’s famous quote: “There go my people, I must hurry to catch up with them for I am their leader”.

The market has spoken. Business and the community is already moving ahead of Government on greenhouse emissions. Equilibrium has been fortunate to see this first hand as for a number of years it has worked with progressive companies on reducing emissions – and this activity has accelerated over the last 24 months independent of Government.

The Australian Government has now released “Australia’s Long Term Emissions Reduction Plan”. The plan provides a summary of the modelling and analysis which underpins the emissions target of net zero by 2050.

The modelling focuses on industry and businesses taking a voluntary approach to achieve net zero by 2050, without outlining constraints or incentives. This shift to net zero is to be pushed by “investor expectations” and “consumer preferences”. Fortunately, Australian businesses are well advanced in assessing their carbon outputs and are already working towards contributing to the target.

For example, Equilibrium was engaged by a major food manufacture in 2019-2020 to identify their carbon outputs and a carbon reduction plan. The company is now well advanced on a carbon management program that is aligned to its overall business objectives.

The process involved identifying scope 1 emissions (direct emissions eg. production, manufacturing and transport emissions), scope 2 (indirect emissions, emissions that may be generated at another facility) and scope 3 emissions (indirect emissions, employee travel to work/ transport and disposal of waste). The company set a target to achieve net zero emissions in operations and net-zero climate impact across the value chain by 2040, as well as 2025 interim goals to reduce energy, water and waste.

Equilibrium assists businesses with a wide range of services from carbon accounting to Climate Active accreditation. Please get in touch to develop realistic and measurable approaches to reduce your carbon outputs.

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