Transitioning to Net Zero for the Energy and Utilities 

November, 2021 - Shoosmiths LLP

We are very excited to be supporting the UN Global Compact Network UK’s ‘Transitioning to a Net Zero’ webinar series.


The webinar in the series, ‘Transitioning to Net Zero for the Energy and Utilities’ took place on Thursday, 28 September 2021 and featured guest speakers:


The key takeaway points are set out below along with the webinar recording:


  • The Science Based Targets initiative (SBTi) is working on an economy-wide net zero standard to be released ahead of COP26.
  • The Race to Zero is the UN-backed, global campaign to rally leadership and support from all non-state actors for a healthy, resilient, zero-carbon recovery. There are two ways that energy and utilities companies can join the Race to Zero:
  • Energy and utilities companies will be instrumental in decarbonising the whole UK economy, as they contribute to both commercial and residential emissions and are a major source of Scope 3 emissions in all sectors. Therefore, rapid, effective action is necessary to accelerate progress:
    • SSE have phased out the use of coal and are increasing the capacity of their renewable energy portfolio. They anticipate further sector-wide shifts, with renewable energy dominating alongside increased abated thermal generation.
    • Suez are reducing the amount of waste going to landfill through recycling and reuse/repair, which simultaneously reduces the methane emissions produced from waste. They are also developing and using carbon capture, utilisation and storage technologies which convert emissions from waste into ‘green gas’ for energy generation.
    • Severn Trent are reducing their wastewater treatment process emissions by developing new, low-emission technologies which produce less nitrous oxide and methane. They are replacing carbon where they can, for example by electrifying their vehicle fleet. Severn Trent are also investing in Nature-based Solutions such as tree planting and peatland restoration. Offsetting is used as a last resort.
  • Energy and utilities companies can reduce their Scope 3 emissions by working closely with their value chain and supply chain stakeholders, as well as their customers to understand and collect data on the carbon footprint of their sold products and embodied carbon within certain areas of the business.

Resources referenced during the event:

 



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