Tracking Progress: How to Measure Success Towards Net Zero
As countries, businesses, and organizations commit to reaching net zero emissions—a critical milestone in the fight against climate change—establishing effective metrics and methodologies for tracking progress becomes essential. Achieving net zero involves balancing the amount of greenhouse gases emitted with an equivalent amount removed from the atmosphere. But how do we measure success on this journey? The process requires a transparent, comprehensive, and standardized approach to ensure that efforts are leading to meaningful reductions in emissions. Here's a look at how success towards net zero can be measured.
1. Establishing a Baseline: The first step is to conduct a thorough greenhouse gas inventory to establish a baseline of current emissions. This involves quantifying emissions from all relevant sources within the defined scope of a net zero commitment, whether it's a country, a corporate entity, or another type of organization.
2. Setting Clear Targets and Milestones: Success requires setting interim targets and milestones en route to the ultimate net zero goal. These targets should be ambitious yet achievable and grounded in the latest climate science, as outlined by the Science Based Targets initiative (SBTi) for businesses, for example.
3. Implementing Robust Accounting Standards: Accurate measurement of emissions reductions and removals is crucial. This requires robust accounting standards that ensure emissions from all sources are consistently tracked and that any offsets or carbon credits used are of high integrity and contribute to genuine additional reductions.
4. Regular Reporting and Third-Party Verification: Transparency is key to tracking progress. Regular public reporting on emissions, reduction strategies, and progress towards targets allows for accountability. Third-party verification ensures that reported data is accurate and that methodologies adhere to international standards.
5. Assessing Indirect Impacts: In addition to direct emissions, assessing the indirect impacts of actions is important for a holistic view of net zero progress. This includes evaluating the lifecycle emissions of products, the influence on supply chain emissions, and the broader societal impacts of net zero strategies.
Measuring success towards net zero is a complex but essential component of global climate action efforts. By adopting standardized methodologies, ensuring transparency, and emphasizing accountability, stakeholders can accurately assess their contributions to mitigating climate change and adjust their strategies as needed to stay on track.