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How do you set and track carbon reduction targets?

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If you want to reduce your carbon footprint and contribute to a more sustainable future, you need to set and track carbon reduction targets. But how do you do that effectively and efficiently? In this article, we will explore some key steps and tools to help you measure, monitor, and manage your carbon emissions.

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Initiate baseline data collection:

Start by gathering utility data like electric, gas, water, and waste from the past 12 months. This will establish a baseline for measuring your carbon footprint and make future reporting easier.### *Align with recognized frameworks:Use established frameworks such as the Science Based Targets initiative or the Carbon Disclosure Project to set credible carbon reduction targets. This ensures your goals are specific, measurable, and globally relevant.

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1 Why set carbon reduction targets?

Setting carbon reduction targets is not only good for the environment, but also for your business. It can help you improve your reputation, reduce your costs, comply with regulations, and gain a competitive edge. By setting clear and ambitious goals, you can align your strategy, operations, and stakeholders with your sustainability vision and values.

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Salah Imam

Building Performance Lead at Entuitive | Ph.D.
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In my experience, setting carbon reduction targets is indispensable for both environmental stewardship and business competitiveness. I agree with the points you made, but there's a need to be technically precise. Preliminary Steps: Start with a baseline carbon audit. Identify Scope 1, 2, and 3 emissions as per the Greenhouse Gas Protocol. Set science-based targets. In my experience, operational changes like retrofitting HVAC systems can yield immediate results. Explore IoT sensors for real-time monitoring. Financials: Conduct a Cost-Benefit Analysis using NPV and IRR, and consider green bonds for financing. Monitoring: Reporting via frameworks like TCFD ensures transparency. Periodically review and adjust your targets and strategies.

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2 How to measure your carbon footprint?

Before you can set and track your carbon reduction targets, you need to measure your current carbon footprint. This means quantifying the greenhouse gas emissions that result from your activities, products, and services. There are different methods and standards to do this, such as the Greenhouse Gas Protocol, the ISO 14064 series, or the Carbon Trust Standard. You can use online calculators, software, or consultants to help you collect and analyze your data.

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Daniel Frey

Partnering With Energy Suppliers and Advisors In the Energy Transition
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We work with large multi-facility clients everyday to help pull together auditable and verifiable scope 1 & 2 GHG reporting. My best advice is to start now on pulling together utility data (electric, gas, water, waste). Most utilities keep 12 months of digital access on a website. After 12 months, your manually pulling invoices and entering data which is much more difficult and expensive. Start now to pull together your baseline year data! We can help!

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3 How to set your carbon reduction targets?

Once you have measured your carbon footprint, you can set your carbon reduction targets. These are specific, measurable, achievable, relevant, and time-bound goals that express how much and by when you want to reduce your emissions. You can use different approaches and frameworks to set your targets, such as the Science Based Targets initiative, the Carbon Disclosure Project, or the Net Zero Carbon Buildings Commitment. You can also align your targets with the United Nations Sustainable Development Goals or the Paris Agreement.

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Salah Imam

Building Performance Lead at Entuitive | Ph.D.
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In my experience, setting carbon reduction targets is a multi-step process that needs to align with recognized frameworks for credibility and effectiveness. Baseline Measurement: After measuring your carbon footprint, align it with frameworks like the Science Based Targets initiative or the Carbon Disclosure Project for target setting. Target Formulation: Based on my work, SMART targets are essential. Make them as specific, measurable, achievable, relevant, and time-bound as possible. Aligning with the UN SDGs or the Paris Agreement can also lend your goals global relevance.

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4 How to track your carbon reduction progress?

After you have set your carbon reduction targets, you need to track your progress regularly and transparently. This means measuring and reporting your emissions periodically, comparing them with your baseline and your targets, and identifying gaps and opportunities for improvement. You can use different tools and platforms to track your progress, such as the Carbon Footprint Tracker, the Carbon Dashboard, or the Carbon Management Software. You can also communicate your progress to your stakeholders, customers, and partners.

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Daniel Frey

Partnering With Energy Suppliers and Advisors In the Energy Transition
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At THG, we have adopted the Corporate Standard GHG Protocols for GHG scope 1 & 2 reporting. This protocol complies with all the major reporting guidelines. Getting accurate data for baseline and ongoing performance is critical. Using the data to inform opportunities for energy management and load reduction is also absolutely necessary. The THG Energy Intelligence Suite leverages GHG data and helps identify energy efficiency and demand management opportunities for savings and emission reduction. Don't let your emissions data be trapped in a separate platform that isn't able to identify and implement energy and load reduction. Focus on tracking and benchmarking both energy savings and emission reductions. We can help!

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5 How to manage your carbon reduction actions?

To achieve your carbon reduction targets, you need to manage your carbon reduction actions effectively and efficiently. This means implementing and evaluating various measures and initiatives to reduce your emissions across your value chain. You can use different strategies and solutions to manage your actions, such as energy efficiency, renewable energy, carbon offsetting, circular economy, or green innovation. You can also collaborate with other organizations and sectors to scale up your impact.

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Daniel Frey

Partnering With Energy Suppliers and Advisors In the Energy Transition
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At THG, we've spent a lot of time helping clients execute on carbon reduction goals. We have a very practical, pragmatic, and streamlined approach to measuring, managing, and implementing energy efficiency along with integrating the purchase and tracking or RECs, PPAs for renewables, and DER (solar and battery) net metering. We work closely with electricity providers and advisors to streamline and track these activities by agreement, applied to specific facilities. We are DOING this work, measuring and benchmarking progress and solving these issues with our clients everyday.

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6 How to review and update your carbon reduction targets?

Setting and tracking your carbon reduction targets is not a one-time exercise, but a continuous process. You need to review and update your targets periodically to reflect changes in your business, market, and climate. You can use different criteria and indicators to review and update your targets, such as performance, relevance, ambition, or alignment. You can also seek feedback and recognition from external experts and stakeholders to validate and improve your targets.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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How do you set and track carbon reduction targets?

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3

4

5

6

7

1 Why set carbon reduction targets?

2 How to measure your carbon footprint?

3 How to set your carbon reduction targets?

4 How to track your carbon reduction progress?

5 How to manage your carbon reduction actions?

6 How to review and update your carbon reduction targets?

7 Here’s what else to consider

Sustainability

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How do you set and track carbon reduction targets?

1

2

3

4

5

6

7

1 Why set carbon reduction targets?

2 How to measure your carbon footprint?

3 How to set your carbon reduction targets?

4 How to track your carbon reduction progress?

5 How to manage your carbon reduction actions?

6 How to review and update your carbon reduction targets?

7 Here’s what else to consider

Sustainability

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