How is Your Company Going to Achieve Net Zero Emissions by 2050? Coorest Has the Answer.
The Paris Agreement
The Paris Agreement is a legally binding common decision for countries and companies on climate change. It was adopted by 196 Parties at COP 21 in Paris, in 2015 and is active since 2016.
Its goal is to limit global warming to below 2 degrees Celsius compared to pre-industrial levels.
To achieve this long-term goal, countries aim to reach a global peak in greenhouse gas emissions as soon as possible to achieve a carbon-neutral world.
The Paris Agreement is an astonishing landmark in human history. For the first time, a binding agreement unites nations in the fight against climate change.
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European Green Deal
The European Commission adopted a package of proposals to make the EU’s climate, energy, land use, transport and taxation policies fit for reducing net greenhouse gas emissions by at least 55% by 2030, compared to 1990 levels. This goal is crucial for Europe in order to become the world’s first climate-neutral continent by 2050 and achieve the Green Deal. In this way, the Commission is presenting the legislative tools to deliver on the targets agreed upon in the European Climate Law and fundamentally transform our economy and society for a fair, green and prosperous future.
More about the Green Deal here.
The EU aims to be carbon-neutral by 2050 — an economy with net-zero greenhouse gas emissions. This objective is at the heart of the European Green Deal and in line with the EU’s commitment to global climate action under the Paris Agreement.
That transition is both an urgent challenge and an opportunity to build a better future for all.
To achieve these goals, any social, environmental and economic factor should act in the right “green” direction.
More on that, here.
The 2030 Agenda for Sustainable Development, adopted by all United Nations Member States in 2015, provides a common goal for peace and prosperity for people and the planet, now and into the future. The core value is the 17 Sustainable Development Goals (SDGs), which are an urgent call for action by all countries in a global partnership. They recognize that ending poverty and other challenges such as improving health and education, reducing inequality, and spurring economic growth — all while tackling climate change and working to preserve the environment.
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Under all the above actions, many businesses have made serious commitments to address their own actions. Companies in the oil and gas, electricity generation, automotive, and financial sectors are demonstrating that acting on climate is not only for environmental reasons but also for financial purposes.
Without voluntary business action, reducing carbon emissions would be much more difficult. Businesses play a crucial role as well as the fact that they take initiative to create their own policies makes them key players in fighting the climate crisis.
Every business across any sector has committed to implementing strategies to reduce emissions in its operations or supply chains. As documented in their annual-sustainability reports, many companies have set emission reduction targets. For example, DTE Energy, a Michigan-based utility, has set targets to reduce CO2 emissions from owned and purchased generation by 45% by 2030. Microsoft has pledged to reduce operational emissions by 75% by 2030. Microsoft is reducing its emissions by putting an internal price on carbon and reinvesting those dollars into clean power, energy efficiency projects, and carbon offset projects. Power company Duke Energy just announced its goal to generate electricity with net-zero carbon emissions by 2050.
According to a study, 100 companies are responsible for 71% of global emissions. ExxonMobil, Shell, BP and Chevron are identified as among the highest emitting investor-owned companies since 1988. If fossil fuels continue to be extracted at the same rate over the next 28 years, global average temperatures would be on course to rise by 4C by the end of the century.
In contrast, with devastating results until now, there is hope that businesses and institutions would take action in this field as soon as possible.
Following these pioneers, more and more entities should act in this leading way.
Here are actions that all companies can put in place to do their part in the fight against global warming.
- Measure GHG emissions
- Reduce energy consumption
- Reduce waste
- Eco-friendly ways of working
- Comply with CSR regulations
- Green infrastructures and types of equipment
- Co-operate with Coorest
How Coorest helps provide solutions?
Coorest helps individuals and institutions to compensate for CO2 emissions, improve livelihoods, and protect nature. The platform offers a blockchain-based solution by creating a decentralized application for CO2 compensation with Coorest CO2 tokens and Coorest NFTrees that are backed by physical trees.
The concept is simple.
You can either buy carbon tokens directly on the platform and burn them. Or, you can also buy NFTrees that generate carbon tokens for you automatically. As proof of the use of the carbon tokens, you receive a proof of carbon compensation (PoCC).
Who can use the Coorest platform?
- Literally, anyone
- Individuals who want to voluntarily compensate for their carbon footprint
- Institutions/companies that need to compensate for their carbon footprint
- Farmers who want to onboard their projects, collect the amount of CO2 tokens and sell them to institutions
- Crypto enthusiasts who want to diversify their portfolio with a sustainable green project
- Conscious people with an eco-friendly mindset
Read the whole white paper to better understand our vision.
Buy an NFTree, collect the CCO2 tokens and burn the tokens to register the amount of CO2 you removed. Buy here.
Join the Coorest community and help us build a better future!