Market needs for carbon emissions product .
Businesses use various categoties to announce carbon commitment’s ranging from net zero to zero or absolute zero. Net zero indicates a business plans to achieve carbon neutrality by a target date, whereas zero or absolute zero goals mean that companies plan to eliminating all scope 1. 2 and 3 emissions, without the use of carbon offsets, by a target date.
Purchasing carbon offsets or credits is a common supplemental strategy for a business' overall carbon reduction plan. The adoption of best practices based on recognized standards ensure they carbon reduction strategies the most impact. When accompanied by longer-term carbon removal credits such as renewable energy credits (RECs), virtual power purchase agreements (VPPA), or biogenic removal projects, offsets are a strong component of decarbonization strategy.
Surge in climate action products & services demand began in 2020.
Similar initiatives were being discussed at WBCSD. In late 1997, WRI senior managers met with WBCSD officials and an agreement was reached to launch an NGO-business partnership to address standardized methods for GHG accounting. WRI and WBCSD convened a core steering group comprised of members from environmental groups (such as WWF, Pew Center on Global Climate Change, The Energy Research Institute) and industry (such as Norsk Hydro, Tokyo Electric, Shell) to guide the multi-stakeholder standard development process.
The first edition of the Corporate Standard, published in 2001, has been updated with additional guidance that clarifies how companies can measure emissions from electricity and other energy purchases, and account for emissions from throughout their value chains. GHG Protocol also developed a suite of calculation tools to assist companies in calculating their greenhouse gas emissions and measure the benefits of climate change mitigation projects.
The Paris Agreement, adopted within the United Nations Framework Convention on Climate Change (UNFCC) in December 2015, commits participating all countries to limit global temperature rise, adapt to changes already occurring, and regularly increase efforts over time. GHG Protocol is developing standards, tools and online training that helps countries and cities track progress towards their climate goals. GHG Protocol supplies the world's most widely used greenhouse gas accounting standards. The standards below are designed to provide a framework for businesses, governments, and other entities to measure and report their greenhouse gas emissions in ways that support their missions and goals. In 2016, 92% of Fortune 500 companies responding to the CDP used GHG Protocol directly or indirectly through a program based on GHG Protocol. It provides the accounting platform for virtually every corporate GHG reporting program in the world. Product Standard The Product Standard can be used to understand the full life cycle emissions of a productand focus efforts on the greatest GHG reduction opportunities. This is the first step towards more sustainable products.
Announcing targets is one thing, validating them is another.
GHG emissions calculation methodology.
Green Climate Fund (GCF) Protocol commitments.
Market for aircraft decarbonization
Industry & Market Insight
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