Decarbonisation is the process of reducing and ultimately eliminating carbon dioxide and other greenhouse gas (GHG) emissions that are leading to global warming, climate change, and the associated effects of global warming. While gases like methane, nitrous oxide, and ozone also contribute to global warming, it is carbon dioxide that is one of the main causes of global warming, ultimately leading to catastrophic climate change events around the world. Hence its inclusion in the name of the process—decarbonisation.
The industrial revolution of the 19th century, a period that fueled the rapid development of nations on an unprecedented scale, triggered the widespread combustion of fossil fuels for energy production, leading to release of massive levels of greenhouse gases, especially carbon dioxide. Fossil fuels have caused a surge in pollution and carbon emissions, notably from sources like coal, petrol, and natural gas. They have led to global temperatures rising by 1 degree Celsius since the Industrial Revolution. This map, utilising a Robinson projection and color-coded representation, illustrates the evolution of global surface temperature anomalies.
Given that fossil fuels continue to dominate the power mix and as of 2020 accounted for 78% of the global energy mix, it has become imperative to shift to renewable energy sources to promote sustainability and sustainable development and to limit the global temperatures from rising to unsustainable levels.
Global leaders came together and met in Paris, France, in 2015 to find solutions to the problem. The Paris Agreement is a legally binding international treaty on climate change. It was adopted by 196 participating nations during the UN Climate Change Conference (COP21) held in Paris, France, on December 12, 2015. The Agreement sets out a global framework to avoid dangerous climate change-induced events by limiting global warming to well below 2°C and pursuing efforts to limit it to 1.5°C, thus addressing the causes of climate change and its associated impacts. It also aims to strengthen countries’ ability to deal with the effects of global warming and support them in their efforts.
In recent years, there has been a notable surge in global initiatives aimed at decarbonisation, driven by a growing recognition of the urgent need to combat climate change. The 2015 Paris Agreement stands out as a pivotal milestone in this endeavor.
In response to the Agreement, nations around the world have committed to reducing their carbon emissions through targets known as Nationally Determined Contributions (NDCs), as part of their efforts to promote sustainability and sustainable development. India, taking the lead in the direction of sustainable development, committed at COP 26 in Glasgow, Scotland, to achieving net zero GHG emissions by 2070. Furthermore, it has also set targets to achieve 500GW of renewable energy capacity by 2030.
Corporations and financial institutions, as non-state actors, have a crucial role to play in the journey toward decarbonisation, a reality that is increasingly recognized and addressed through organizational-level net zero commitments. Many corporates like Amazon, Microsoft, and PepsiCo have already kickstarted their journeys of contributing to the global decarbonisation drive by setting net zero targets.
As a climate-conscious organisation, ReNew has committed to achieving net zero by 2040, which is 30 years ahead of the national target of 2070.
Decarbonisation aligns closely with the United Nations Sustainable Development Goals (SDGs). The SDGs constitute a universal call to protect the planet, and ensure that all people enjoy peace and prosperity by 2030. Within the SDGs framework, decarbonisation resonates particularly with Goal 13: Climate Action.
Embracing the principles of sustainability and aligning decarbonisation efforts with the SDGs not only accelerates progress toward a low-carbon future but also fosters inclusive and resilient societies for generations to come.
As a leader in the renewable energy space with 17.4 GW of renewable energy assets, ReNew has emerged as the preferred decarbonisation partner for corporates and entities. It has been at the forefront of advancing emerging decarbonisation solutions, including carbon markets, innovative Power Purchase Agreements (PPAs), power trading, and energy storage, to support enterprises in their transition towards achieving net-zero emission goals. There is more need than ever for companies that cannot avoid carbon emissions completely to buy carbon credits and aid in the decarbonisation process.
With its solutions, ReNew aims to enable businesses to make a rapid, urgent, and ethical transition toward renewable energy and energy decarbonisation. Know more about the services offered by ReNew to corporations seeking to enhance their commitments to achieving net zero emissions.
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