Ambitious Corporate Climate Action

Imagine sitting in a minibus while the radio plays the latest Bollywood songs. Through the open window you see palm trees rustling in the wind, and a beautifully decorated, sand- colored temple. This week’s climate story brings us to Rajasthan in India, where India’s largest zinc-lead mining company Hindustan Zinc Limited has its operations.

But let me back up… We all know that we have to reduce greenhouse gas emissions drastically. But how do we do that? This is where the Science Based Targets initiative comes into play. They are helping companies to assess and then lower their emissions.

Greenhouse gas emissions must drop to net-zero by 2050. We have limited time for action and the private sector has a crucial role to play – every sector in every market must transform

This inspiring partnership between CDP, the United Nations Global Compact, the World Resources Institute, and the World Wide Fund for Nature tackles ambitious corporate climate action. This is how it works:

First, a company commits to the process and develops an emission reduction target. This can look something like this: “We commit to reduce our greenhouse gas emissions by 50% by 2030 from a 2019 base year.” The target then gets submitted, validated, and publicly announced. In the third step, company wide emissions are reported and yearly progress is tracked.

Now back to our story in India. Over 1300 companies from all over the world are taking climate action and Hindustan Zinc is one of the case studies from the science-based targets initiative. They developed an emission reduction target and specific solutions how to get there. Here are some of the steps Hindustan Zinc is taking:

  • Reduce power consumption
  • Improve energy efficiency
  • Establish more efficient cooling methods
  • Increase responsible waste management
  • Become a water-positive company
  • Shift towards green power generation such as a waste heat recovery boiler, wind power plants and solar power

Hindustan Zinc will cut their 2016 greenhouse gas emissions by 14% by 2026. They also commit to cut indirect emissions such as purchased goods, travel and distribution by 20% in the same timeframe. Like other smart companies, Hindustan Zinc realized that climate action helps the company:

“The reductions in greenhouse gas emissions will help to reduce the company’s overall energy consumption, safeguard its future, and improve its brand value”

What I love most about this case study is the realization that climate solutions and running a successful business go hand in hand. Let’s hope they inspire more companies to commit to drastic emission reductions.

What Do Solar Panels and TVs Have in Common?

Remember the scene in “Back to the Future” about TVs? Marty, traveling back in time from the 1980is to the 1950is, tells Stella they have two TVs at home. Stella answers: “Oh honey, he is teasing you. Nobody in the world has two television sets”.

This is how I felt after seeing a slide about solar adoption at the California Germany Bilateral Energy Conference. David Hochschild, chair of the California Energy Commission, gave an optimistic and inspiring keynote on clean energy in California.

He covered a range of clean energy highlights: Tesla’s Gigafactory developing the world’s largest factory for energy storage. Apple’s new solar roof, which is one of the biggest in the world and helps Apple being powered entirely by renewable energy. Another highlight is the Geysers, the world’s largest geothermal field with 22 geothermal power plants. It’s encouraging to hear about all these clean energy projects in California. What inspired me most from David’s talk was this slide:

Source: EIA Annual Energy Outlook 2004-2017, EIA Electric Power Monthly July 25, 2017

The plot shows a prediction for solar adoption from the US Energy Information Administration. The dotted line shows their estimation for US Solar photovoltaics generation and the solid line shows what actually happened.

What does solar adoption have to do with climate change? The power sector accounts for 40% of annual greenhouse gas emissions to the atmosphere. By using energy from renewable sources such as solar we can cut emissions drastically.

Isn’t that amazing? Prediction of solar adoption is incredibly low in comparison to what actually happened over the last decade. What I like most about this graph is that it gives me hope we might be underrating other climate solutions as well. As we are getting cheaper and more efficient clean energy options every month, what’s next?