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Moving to Net Zero
MOVING TO NET ZERO
What is Net Zero?
Net zero means cutting greenhouse gas emissions to as close to zero as possible, with any remaining emissions to be re-absorbed from the atmosphere, by oceans and forests, for instance. (United Nations). The purpose of Net-Zero is to achieve a balance between the carbon emitted into the atmosphere, and the carbon removed from it. This balance, or net zero, will happen when the amount of carbon we add to the atmosphere is no more than the amount we remove.
Why is Net Zero important?
The 2018 Intergovernmental Panel on Climate Change (IPCC) Special Report on Global Warming warns that the current global warming of 1.5°C prompts for the urgency of needed climate actions by all nations: Global emissions will need to be reduced by 45% by 2030 and rapidly decrease to net-zero by 2050 if we are to be able to stay within the safety limits established by the historic Paris Agreement, established under the UN Climate Change Conference in Dec 2015. More recently, the IPCC’s Sixth Assessment Report (2021) has confirmed that climate change already affects every region on Earth, its impacts increasingly visible in extreme weather, worsened droughts, and heightened risk of forest fires.
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Net zero means cutting greenhouse gas emissions to as close to zero as possible, with any remaining emissions to be re-absorbed from the atmosphere, by oceans and forests, for instance. (United Nations). The purpose of Net-Zero is to achieve a balance between the carbon emitted into the atmosphere, and the carbon removed from it. This balance, or net zero, will happen when the amount of carbon we add to the atmosphere is no more than the amount we remove.
What We Do to Achieve Net Zero?
Reducing Carbon Emissions
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We are committed to reduce greenhouse gas emission in our everyday operations to as close to zero as possible to mitigate the impacts of climate change and protect our planet. We collaborate with climate and carbon experts to include a Net-Zero Program in our project planning, design, construction, and operations to implement ESG principles and measure carbon footprints for all internal and external components of our projects. The Program tracks all operational data, including energy, waste, buildings, vehicles, equipment, machinery, building materials, transportation, distribution, and all other relevant products, services, and processes to calculate and manage carbon footprints for all our projects’ components to ensure that they meet our target low carbon emissions.
Climate Action Plans
In addition, in complying with the Paris Agreement, we build climate action plans that decrease emissions across our projects and supply chain to fine tune our projects’ carbon emissions toward achieving Net-Zero by 2035.
Transition to Renewable Energy
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However, the activity that dramatically reduces carbon emissions is replacing polluting coal, gas, and oil-fired power with energy from renewable sources, such as wind or solar. As energy development is part of our business, we generate electricity mostly from wind and solar energy to power our projects, homes, and equipment because these forms of energy are the most economical and abundant sources of renewable energy available.
We understand the importance of transitioning to a Net-Zero world and are committed to generating and utilizing renewable energy in our everyday operations. In addition, we incorporate ESG principles throughout our decision making and activities to ensure that our business does not negatively impact the community and the environment.
Net Zero Remaining A Global Challenge
Global Energy Transformation,
the Greatest Challenge of All Time
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By 2035, global energy demand is projected to grow by more than 50 percent and even faster in developing countries. It remains one of the greatest challenges that the world has ever faced to transform the energy industry to completely switch to renewable energy and produce enough of it to meet demand by that time.
Our Carbon Footprints
Depending on Others
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In its transition to renewable energy, Maylan is facing its own challenges, as the reduction of our carbon footprints depends not only on ourselves but also on others that produce and supply goods and services to our business, such as manufacturers, suppliers, contractors, consumers, customers, and employees. Many of these entities still lack the awareness of the urgent need for switching to renewable energy and the commitment to change, as doing so will require vast upfront investment costs and qualified expertise regarding de-carbonization and net-zero.
We Are Fully Committed to Net Zero
Despite these challenges, we remain committed to the global energy transition moving toward Net-Zero for our operations to avert the global warming crises and attain sustainability.
