How Companies Are Moving Towards Being Carbon Neutral And Gaining Through Carbon Credits?
Zeroing down to the carbon footprint isn’t just a thought in the air anymore - it has become a pressing reality considering the environmental challenges we face. To combat this, reducing greenhouse gas emissions and embracing a carbon-neutral future is essential. Hence purchasing carbon credits can be a big step forward and in the right direction.
What are carbon credits?
Carbon credits are tradable certificates that grant holders the right to emit one tonne of carbon dioxide or its equivalent greenhouse gas. Companies can purchase these credits from projects actively working to reduce greenhouse gas emissions, such as renewable energy initiatives or forestry and conservation efforts.
So how can these carbon credits help you?
By purchasing carbon credits, companies can offset their emissions and achieve carbon neutrality. This not only benefits the environment but also offers advantages to the companies themselves. It demonstrates their commitment to sustainability, helps reduce energy costs through efficiency improvements, and potentially provides a competitive edge in the market.
How are companies becoming carbon neutral?
Investing in renewable energy
Companies are increasingly investing in renewable energy sources to minimize their carbon emissions. For example, Tata power, one of India's largest power generation companies, aims to generate 30% to 40% of its energy from renewable sources by 2025. Significant strides have been made in this area, from installing solar and wind systems to purchasing renewable energy from third-party providers and funding research and development projects.
Implementing energy efficiency measures
Companies are adopting energy-efficient heating, ventilation, and air conditioning systems to reduce energy consumption. For example, Mahindra & Mahindra implemented energy-efficient HVAC systems in its manufacturing facilities, resulting in 44% energy efficiency in its automotive business and 25% in tractor manufacturing.
Carbon capture and storage
Certain companies are exploring carbon capture and storage (CCS) technologies to capture carbon emissions and store them underground. For example, Reliance Industries, one of India's largest conglomerates, has announced plans to invest $80 billion by 2035 in CCS technology to capture CO2 emissions from its refineries and petrochemical plants.
How is Altigreen adding value to these companies?
Altigreen specializes in eco-friendly solutions for the automotive industry, and offers hybrid powertrain technology to reduce carbon emissions from diesel and petrol vehicles. Altigreen's neEV, an electric three wheeler cargo vehicle, provides last-mile services to businesses and companies with cost-effective means to reduce their carbon footprint. Altigreen's solutions can also help companies lower energy costs, improve operational efficiency, and increase profitability and competitiveness.
Carbon credits enable companies to offset their carbon emissions, achieve carbon neutrality, and reap various benefits, including showcasing their sustainability commitment, reducing energy costs, and gaining a competitive edge. To attain carbon neutrality, companies are increasingly investing in renewable energy sources, implementing energy-efficient measures, and exploring carbon capture and storage technologies. These efforts are pivotal in mitigating climate change's impact and securing a sustainable future for all.
