Net Zero and Science-Based Pathways: Key Insights

Net Zero and Science-Based Pathways: Key Insights

Presented by John Shideler - Managing Director • Omnex S3 Futurepast Inc

Introduction

Climate change poses unprecedented challenges for industries worldwide, demanding immediate and sustained action. In this session, the John Shideler - Managing Director, Omnex S3 Futurepast Inc. provided an in-depth exploration of the science behind climate change, the concept of net zero, and actionable strategies to transition toward a sustainable, low-carbon economy. Through examples, frameworks, and success stories, businesses were shown how they can contribute to global climate goals while ensuring resilience and competitiveness.

Understanding Climate Change and Its Impacts

• John Shideler emphasized the growing urgency of addressing climate change, driven by rising atmospheric CO₂ levels, which have increased from 280 ppm to over 425 ppm since the 1950s.
• Examples such as the 2011 Thailand floods demonstrated how climate events disrupt global supply chains, highlighting risks for businesses and individuals.

Defining Net Zero and Science-Based Targets

• Net Zero: Achieving a low-carbon economy by reducing greenhouse gas emissions to near zero and offsetting residual emissions.
• Science-Based Targets: Setting goals aligned with limiting global warming to 1.5°C, based on specific industry contributions to climate change.
• Emissions are categorized as:
• Scope 1: Direct emissions from operations.
• Scope 2: Indirect emissions from energy use.
• Scope 3: Indirect emissions across the supply chain, including product lifecycle emissions.

Pathways to Achieve Targets

• The presenter outlined a clear roadmap:
• 1. Assess greenhouse gas inventory, including Scope 1, 2, and 3 emissions.
• 2. Identify hotspots and set ambitious reduction targets.
• 3. Implement strategies such as:
• Enhancing energy efficiency.
• Adopting renewable energy sources.
• Innovating processes and products.
• 4. Monitor progress and complement efforts with carbon offsets.

Standards and Reporting Frameworks

• ISO 14060: A global standard for measuring and reporting emissions.
• Carbon Border Adjustment Mechanism (CBAM): Encourages low-emission production by imposing carbon pricing on imports to the EU.
• Voluntary climate-related disclosures are becoming common due to investor demands and regulatory pressures.

Industry Success Stories

• Interface: Achieved 100% recycled materials in carpet production.
• Walmart: Engaged supply chain partners to reduce emissions, resulting in cost savings and competitiveness.
• Holcim: Developed green cement using renewable energy and alternative raw materials.
• Cleveland Cliffs: Invested in direct reduced iron and electric arc furnaces for steelmaking.

Broader Benefits

• Improved air quality and reduced respiratory issues.
• Economic resilience through renewable energy adoption and job creation in sustainable sectors..
• Long-term business competitiveness and alignment with global climate goals.

Conclusion

John Shideler concluded with a strong message: businesses hold the key to driving meaningful climate action. By adopting science-based targets and embracing net-zero pathways, organizations can mitigate risks, enhance their market position, and contribute to a sustainable future. He encouraged industries to take the lead, leveraging collaboration and innovation to meet the urgent demands of the climate crisis.