Navigating Mission Zero: How NGP helps businesses reach Net Zero emissions

Achieving Net Zero: The Challenges for Businesses

The push for net zero emissions is becoming ever-important for businesses as the world shifts to a low-carbon economy. The new “Mission Zero” review, commissioned by the UK government, highlights the critical role of businesses in reaching net zero emissions by 2050. It also emphasises the need for science-based targets, investment in renewable energy and energy efficiency, and highlights the importance of collaboration and partnerships.

Determining a science-based emissions reduction target

Mission Zero discusses how determining a science-based emissions reduction target can be a challenge for businesses. These targets require determining a company’s emissions baseline and then developing a bespoke plan to reach reduction targets. However, only 1% of global companies have actually set such targets.

At NGP, we understand the importance of setting science-based emissions reduction targets, which is why our services include assistance with setting these goals for your business. Our experienced energy and sustainability consultants can also help companies determine their emissions baseline and develop a plan for achieving their emissions targets.

Lack of investment in renewable energy

According to the report, a lack of investment in renewable energy is a key problem for businesses. It states that in 2019, only 3% of global investment in power generation was directed towards renewable energy. This lack of investment in renewable energy has been a barrier to achieving net zero and has hindered the transition to a more sustainable energy system. The report recommends increasing governmental investment in renewable energy to accelerate the transition to net zero.

NGP can help by identifying and implementing cost-effective and ROI-positive renewable energy options. We will assess the feasibility and ROI of options like solar panels, LED lighting, and energy management systems as part of our additional services package.

Difficulty in procuring energy contracts that align with sustainability goals

Procuring energy contracts that align with sustainability goals can be difficult due to many factors. One of the main challenges is the limited availability of renewable energy sources. The report notes that only 30% of global power generation capacity is from renewable sources, which can make it difficult for organisations to meet their sustainability goals through procurement of renewable energy.

Additionally, the lack of standardisation in renewable procurement can make it difficult for organisations to understand and compare different options. Moreover, transparency is especially key in the energy market in helping organisations make informed decisions. Furthermore, the report highlights the lack of long-term contracts available for renewable energy in light of the current energy crisis, which can make it difficult for businesses to plan for the future and to invest in long-term renewable projects.

NGP specialises in procuring energy contracts that align with your net zero ambitions. We will help companies navigate the complexities of procuring energy contracts that align with their sustainability goals, such as sourcing renewable energy or signing power purchase agreements for renewable energy projects.

Limited access to funding and financing

Many businesses face limited access to funding and financing for low-carbon projects and technology. The review states that an estimated £1 trillion per year of investment is also needed to reach net zero emissions by 2050. NGP’s services include assisting companies in identifying and accessing funding and financing opportunities for low-carbon projects and technology. We can help companies identify and engage in initiatives such as supply chain decarbonisation and industry-wide emissions reduction targets.

Conclusion

Northern Gas and Power (a subsidiary of Global Procurement Group) is a global energy procurement consultant and is the largest energy consultancy in Europe. We guide businesses of all sizes, ranging from SMEs to global and international organisations, in purchasing their energy contracts.

We provide our expertise to help businesses navigate the complexities of reaching net zero emissions and achieve their sustainability targets. Our services include assistance with setting science-based emissions reduction targets, and identifying and implementing renewable energy and energy efficiency measures.

We work in collaboration with ClearVUE.Business, a specialist consultancy helping businesses develop comprehensive strategies to achieve their net zero targets.

As well as offering technology that provides businesses with a consumption, carbon monitoring and accounting platform, ClearVUE also offers expertise in audits, energy efficiency training, energy management, climate risk assessments, and emissions reporting legislation (ESOS, SECR), and even automated scope 3 emissions reporting. ClearVUE’s consultancy services also help businesses devise long-term strategies, guiding them on the pathway to realising their net zero and sustainability ambitions.

By working with NGP, and our colleagues at ClearVUE.Business, your business can benefit from world-class energy and carbon management consultancy and technology solutions to improve operational efficiencies, reduce costs, and lower your carbon footprint.

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