[Planning for Decarbonization] Creating a Decarbonization Roadmap
September 7, 2023
September 8, 2023
This lesson focuses on the process of creating a decarbonization roadmap and covers key components such as strategy identification, policy considerations, financing and investment, collaboration, and monitoring to guide organizations in their journey towards net zero emissions.
Creating a decarbonization roadmap is similar to planning a trip. A decarbonization plan outlines the steps required to reduce or eliminate GHG emissions, in the same way that plans for a road trip outline which roads to take to your destination.
The ultimate goal of a decarbonization roadmap is to reach a state of net zero emissions, which was previously defined as cutting all GHG emissions to as close to zero as possible. The roadmap helps determine which steps to take on the journey to net zero, providing information on what changes to make in different areas such as energy, transportation, and industry.
Armed with the research and conclusions drawn from each of the previous lessons, Quadial Inc. builds its decarbonization roadmap by considering the following examples. Please note the following are suggestions and are not intended to be an exhaustive list.
Strategy Identification - The roadmap identifies various strategies and measures to achieve targets. These “low-hanging fruit” strategies may often be the first plan of attack for organizations due to their achievability and manageability. This may include energy efficiency improvements, renewable energy deployment, electrification of transportation, transitioning to low-carbon fuels, implementing carbon capture and storage technologies, and promoting sustainable land use practices.
Consideration of Policy and Regulatory Frameworks - Effective decarbonization requires supportive policy and regulatory frameworks. To drive the adoption of low-carbon technologies and practices, organizations may consider policies, regulations, and incentives such as carbon pricing mechanisms, renewable energy standards, emissions trading systems, and tax incentives.
Financing and Investment - Explore various financial mechanisms, such as public-private partnerships, green bonds, and venture capital, to mobilize resources and support deploying clean technologies and infrastructure. Financial support and investment are crucial aspects of realizing decarbonization goals.
Collaboration and Stakeholder Engagement - Successful decarbonization efforts often require building partnerships to leverage expertise, share knowledge, and foster collective action by collaborating with stakeholders.
Monitoring and Evaluation - Continually monitoring and reporting decarbonization goals through regular assessments and reviews will help determine how effective implementation strategies are and identify any challenges or gaps that require additional accommodations.
Quadial Inc.’s sustainability team picked from the list a la carte to compose its decarbonization map.
Strategy Identification: Instead of using fossil fuels, Quadial Inc. uses clean and renewable energy sources. Quadial Inc. also improved energy efficiency by initiating an organization-wide switch to renewable energy across all of its facilities.
Financing and Investment: Another reason why Quadial Inc. set such ambitious decarbonization plans was to garner more financial support from the venture capital firm that provided them funding. As a result of their plans, Quadial Inc. received 10% more funding in venture capital.
Collaboration and Stakeholder Engagement: Quadial Inc. gets buy-in from its stakeholders by presenting its decarbonization plan at the quarterly board meeting. As a result, Quadial Inc. receives leadership support within the company, which reduces friction and increases influence within the rest of the organization.