What is net zero? (Net zero)

Net zero represents a state where global net greenhouse gas emissions caused by human activity (including carbon dioxide and methane) are reduced to near-zero levels, while residual emissions are removed from the atmosphere by permanent methods. Achieving net zero emissions will be extremely challenging as it requires the elimination of all residual emissions, especially from hard-to-reduce industries such as agriculture, steel, cement and chemical production. Carbon removal methods must be reliable and sustainable to ensure that carbon does not return to the atmosphere through, for example, deforestation or improper storage of captured carbon.

The concept of net zero emissions became known through the Paris Agreement, concluded at the 2015 UN Climate Change Conference (COP21), which aims to significantly reduce the impact of greenhouse gas emissions. The goal is to achieve a global zero balance of greenhouse gas emissions in the second half of this century.

Why does net zero matter?

To avoid the worst consequences of climate change, it is essential to limit global warming to 1.5°C (2.7°F) above pre-industrial levels. Today, the Earth is already 1.1 °C (2 °F) warmer than at the end of the 18th century, and global emissions are still rising, which could lead to a temperature increase of 2.7 °C (4.7 °F) by the end of this century.

The international scientific consensus says that in order to keep warming below 1.5°C, it is necessary to reduce short-term carbon emissions by 45-50 % by 2030 and at least 90 % by 2050. Without reaching zero balance of greenhouse gas emissions, the temperature the planets continue to rise with increasingly serious consequences.

Targets of zero balance of emissions

Various governmental and non-governmental organizations have initiated voluntary programs and platforms that help organizations publicly verify their ambitions and measure performance against goals. These programs include:

Race to zero

– A UN global campaign that collects commitments to reach zero balance of greenhouse gas emissions by 2050 at the latest.
– Includes thousands of companies, financial institutions, cities, states and regions that commit to reporting progress annually.

Building level objectives

– The Global Green Building Council (GBC) defines zero carbon buildings as energy efficient and fully powered by renewable energy.
– The Advancing Net Zero (ANZ) program has already been adopted by 34 green building councils and more than 170 organizations have committed to net zero buildings.

Science Based Target Initiative (SBTi)

– The SBTi platform helps organizations set and verify targets for reducing greenhouse gas emissions in line with climate standards.
– In 2021, it introduced its Zero Balance Standard, which is considered the world's first framework for setting corporate zero balance goals.

Challenges and opportunities

Achieving net zero emissions faces many challenges, including verifying carbon removal techniques and preventing environmental misleading advertising (greenwashing). Calculating greenhouse gas emissions is a challenging process that uses standardized methods to create an accurate inventory.

Despite the challenges, the net zero movement has delivered climate action that did not exist before, promoting climate policy, benchmarking and emissions transparency. Investors and organizations are publicly committing to these goals, contributing to global efforts to mitigate climate change.