World Net-Zero Summit Recap:
Ambition to Transition
As we reflect on this year’s World Net-Zero Summit in Berlin, it’s clear that momentum is gathering in the decarbonization space; corporate ambition is huge, and our mission to accelerate the renewable energy transition feels more relevant than ever! In this article, we will share our key take-aways from the event.
Key Takeaways
1. Carbon removal is the crucial path to reaching net-zero.
2. Scope 1 and Scope 2 emissions reduction is heading in the right direction, with corporates using Power Purchase Agreements (PPA) as the obvious choice when it comes to reducing their Scope 2 emissions.
3. Scope 3 emissions reduction continues to face challenges, and major brands are investigating new solutions in order to address the current lag. There’s no doubt that building confidence in the corporate transition will require significant action in this area.
Corporate Approaches
The highlight of the event was hearing from organizations as they shared their decarbonization challenges – and strategies for overcoming them. Key insights included;
- Danfoss
To cover their Scope 1 and Scope 2 emissions, Danfoss are using their three-step change initiative to decarbonize: reduce, re-use, and re-source. To decarbonize Scope 3, they are aiming for a 65% reduction, utilizing solutions like converting wastewater plants to energy. - Lindström
To reduce their Scope 1, 2 and 3 emissions by 50% by 2030 (from 2021 baseline) they are following a B2B circular model to maximize the lifetime of their products. Scope 3 accounted for 71% of their total emissions in 2022 and is sure to be their main decarbonization challenge. - DHL
To reduce their Scope 1 and Scope 2 emissions by 42% by 2030 (from 2021 baseline) they will rely strongly on Renewable Energy Certificates to cover Scope 2 emissions and aim to shift to Power Purchase Agreements (PPA). They also aim to reduce their Scope 3 emissions by 25% in the same time period. - Nestlé
To reduce their total by 20% by 2025 (from 2018 baseline) they are relying on nature-based solutions, technology improvement, net-zero in manufacturing, and running a strategy for sustainable packaging. Carbon removal is also in their sights. - Coca Cola Europacific Partners
To reduce their total by 30% by 2030 (from 2019 baseline) and transition to net-zero by 2040, a particular emphasis will be placed on packaging — 38% of their greenhouse gas emissions result from the value chain.
Considering the global nature of our efforts to combat the climate crisis, it was interesting to note that other geographies face different challenges; for example, CBC had sites in South and Central America and faced challenges with Scope 1 in terms of gas replacement.
Tailored solutions accelerating the transition
The summit reiterated the importance of the following initiatives:
Key Supplier Program
To address Scope 1 and Scope 2 emissions, Key Supplier Programs help to identify an organization’s main suppliers in order to drive the greatest impact in emissions reduction. To get an insight into how these programs work, see our collaboration with Adidas here.
Power Purchase Agreements (PPA)
For many corporates, PPAs stand as the main solution to emissions reduction. Attaining PPAs involves a comprehensive process, including analysis, strategy, negotiation, and ultimately, signing. Get in touch with our team for expert support.
Take home message:
Tackling Scope 3 emissions certainly has its challenges, and corporates seeking to make an impact will need to take the right strategic steps. Decarbonization is not a one-size-fits-all approach, and topics like carbon removal will increasingly play a part in tailored solutions on the pathway to net-zero. Need support?
Connect with our team and let us navigate the renewable energy journey together.
Jorge Estremadoyro Ruiz
Renewable Energy Project Manager
Jorge has strong leadership and communication skills, as well as experience in machine learning, data analytics, and digitalization. Jorge leads the digitalization of act renewable’s products and services and manages various projects and key clients within the renewable energy strategy team.
Connect with Jorge at jorge.estremadoyro@actrenewable.net
get in touch
Want to know more? Reach out to the team for support in accelerating the corporate renewable energy transition: contact@actrenewable.net