Net Zero is a state wherein residual emissions at that time would be balanced by carbon removals. It is widely understood that nature-based removals alone will not be enough to balance expected residual emissions, and that technology- based removals such as carbon sequestration in subsurface rock formations will be required.
CCUS will be a complex and expensive process, and each project will take many years to bring on line. In order to finance these projects, the companies will need to raise capital in order to sell the carbon credits for the sequestered carbon dioxide at a later date.
Net Zero Matrix have created a blockchain based validation solution which will bring veracity and trust to this futures marketplace.
By setting and working towards net zero emissions targets, organizations can use tools like carbon footprinting and life cycle assessment to identify areas for improvement, set meaningful targets, and track their progress over time. This helps to ensure that organizations are accountable for their environmental impacts and are taking meaningful action to reduce their carbon footprint.
The ISIC is updated every few years to ensure that it remains relevant and accurate. It is used by governments, international organizations, and statistical agencies to understand and compare economic activity across countries and regions.
The ISIC is divided into four main sections, each of which is further divided into categories and subcategories to provide a detailed and comprehensive classification of businesses.
These emissions are often referred to as "upstream" and "downstream" emissions. Upstream emissions are those that occur in the production and supply of goods and services that the organization uses, while downstream emissions are those that occur as a result of the organization's products or services being used by customers.
Scope 3 emissions can be significant, as they often make up a large portion of a company's overall GHG emissions. Understanding and reducing scope 3 emissions is an important part of an organization's sustainability strategy.
The Net Zero Matrix Ecosystem allows for the official validation of posted disclosures, and the issuance of two types of digital assets called GECKOS and RECKOS. The first is related to the absolute or intensity carbon footprints reductions, and becomes a real asset on the company balance sheet. The second is issued for carbon removals that have been purchased by that company and which may be subsequently traded.
The Net Zero Matrix Ecosystem allows the company to record the carbon removals that have been purchased by that company and which may be subsequently traded.
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Companies in the Register
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Companies with CFP Progress Data
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Companies with a Formal Target
All Human Activity activity contributes GHG emissions, and it is therefore incumbent on all Global Citizens, Institutions such as Schools and Universities, Companies great and small, and Governments to do our part in the drive towards Net Zero. We can all make a difference, from a much better care of the environment to the eventual replacement of carbon intensive activities such as the burning of fossil fuels to generate electricity.
We need to act, and now.
Targets are being set at the National level, and what are termed ‘Nationally Determined Contributions’ are being calculated and plans are being now put in place to reduce them towards a state of Net Zero in the first instance, and then beyond to become Carbon Negative. Large Multinational Corporations are entering into voluntary Net Zero Targets through organisations such as the Science Based Targets Initiative. Small and Medium Enterprises are setting targets, and wanting to show how they can reduce their footprints. Institutions such as schools and universities want to help. We all want to take part in the common goal to mitigate climate change.
However, despite a very rapid increase in the numbers of organisations that are adopting and publishing their Net Zero Targets in the public domain for all to see, there is still no standardisation or consistency in the disclosures of the emissions reductions targets and the progress against those targets.
Indeed, concise, data-centric plain-language climate commitments, and reporting on progress as part of annual filings, are a rare find. As result, the exact content of targets often remains opaque to company stakeholders, investors, and the public at large, and are very difficult to compare against each other or against benchmarks for a particular business sector.
The Net Zero Matrix is being built to provide a single repository for such Targets and Progress, and to ensure a fair and level playing field for all.
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