Net Zero Tracker

NZT’s Natasha Lutz examines the rapid rise in net zero target setting in recent years, and unpacks the four-pronged approach that the Net Zero Tracker uses to assess these commitments.

Today we would like to give thanks to our people-powered volunteer cohort, and in particular to Bright Mbuya who has tracked 22 entities and counting for the Net Zero Tracker. Our team of volunteers which are scattered across the globe bring their educational, professional and geographical specialisms to the task of investigating the climate commitments of some of the world’s largest polluters. The information tracked by our volunteer team is key to forming the NZT database, and underpins our  analysis. Bright has commented on his experience volunteering at the Tracker: "Hi there, I'm Bright and currently major in Climate Change for my grad school in Taiwan. I discovered and joined NZT earlier this year and ever since I have always enjoyed checking on various entities both in Tanzania where I come from and in Taiwan where I reside. I always remain curious and looking forward for each week's task to enhance my understanding and make the public informed about them."

The terms 'carbon neutral' and 'net zero' are still used interchangeably, but less so now that carbon neutrality's halo has been smudged. But what do they actually mean? And net zero of what? After discussing with a few colleagues, I've tweaked a graphic that aims to simplify the main differences between the oft-conflated terms: The term 'Climate Positive' now trumps 'Carbon negative' and 'Net Negative Emissions' — mostly for comms reasons. For scientists out there, I'm happy to take flak for that. And I've clarified that offsets can represent both reductions and removals to avoid confusion. As I type this I can hear Andy Reisinger and Joeri Rogelj's voices ringing in my head on the temporal dimensions of net zero. So just to be clear: Net zero CO2: The IPCC says that limiting heating to 1.5 °C by 2100 (with no/limited temp. overshoot) requires the world to achieve #netzero CO2 in about *the early 2050s* — alongside deep, immediate and sustained reductions in other greenhouse gases (GHGs). Net zero GHGs: Even in the most ambitious mitigation pathways, net zero GHG emissions are not reached until about *the early 2070s* — and some pathways that limit heating to 1.5 °C by 2100 do not reach net zero GHG emissions at all. As always, this diagram is a work in progress so let me know if I should adjust or add. For example, might it be more complete if I added (i) the temporal dimension, as above; and/or (ii) more context on the differences between emission reductions and removals? The online, more HD version lives on the Energy and Climate Intelligence Unit's website: https://lnkd.in/ekrwuF-r Kaya Axelsson Alexis McGivern Oxford Net Zero Katharine Hayhoe

For a great overview of the Kaya Axelsson-led corporate ‘spheres of influence’ paper, which calls for a broader approach to climate standards, see Cecilia Keating’s overview for BusinessGreen. The analysis highlights the limitations of current frameworks and their failure to capture the myriad ways which companies drive decarbonisation, e.g. through investments, products or advocacy. The study makes the case for new avenues to measure corporate climate action, dubbed a ‘sphere of influence’ track. ‘Kaya Axelsson, study author and research fellow and head of policy and partnerships at the Smith School, said climate standards today were failing to adequately recognise some companies and sectors that are making a significant contribution towards national and international climate goals. "The way standards are currently set up, a high-growth renewable energy company might fare poorly because of the emissions generated in making turbines and solar panels, despite the fact these products can help to reduce emissions globally," she said. "We need a way to compare and reward companies that are changing the world, not just their operations." Report co-author Claire Wigg, from the Exponential Roadmap Initiative, said the introduction of a 'spheres of influence' track to corporate climate reporting should sit alongside existing approaches. "It is essential that companies report and reduce emissions across their value chains," she said. "But it is also essential that they drive - and are rewarded for driving - systemic change via the products they produce, the purchases they make and the policies they lobby for or against."’ The Business Green article: https://lnkd.in/dBEeF4pq And for those who want the full paper: https://lnkd.in/dV_4FcQs

Today we’d like to thank our team of volunteers at the Net Zero Tracker, and in particular to Yuin Law who reached the milestone of tracking 50 entities.    The Tracker depends on our people-powered team to collect the essential data on the commitments of a hugely diverse range of entities, which drives the research and analysis at the Tracker. In Yuin’s own words: “Hi, I’m Yuin. It's been nearly a year since searching “(entity name) net zero” became part of my weekly routine. Last summer, I felt the urge to do something meaningful for the planet, but feasible volunteering opportunities were scarce. I then discovered the Net Zero Tracker thanks to Camilla’s post (and the power of LinkedIn). The volunteer programme had just opened up to students beyond Oxford University, and I’m glad it did. Although I’ve recently graduated and will start working full-time soon, I hope to continue contributing to this rewarding project. A big thank you to Camilla, Vin, and the entire NZT team for the amazing work you do! Who would’ve thought that visiting a spreadsheet every Tuesday could spark so much joy?” #NetZeroHero #PeoplePower

Reuters Simon Jessop’s latest on the Science Based Targets initiatives’ double U-turn on offsets quotes the Net Zero Tracker’s John Lang and NewClimate Institute's Thomas Day: ‘John Lang, who tracks net-zero goals for research group the Energy and Climate Intelligence Unit said that, as a result of the SBTi's stance on carbon #offsets, he expected more companies will pare back their near-term emission targets. They may, however, focus more on realistic actions to cut emissions, he said. "Recalibrating targets doesn't necessarily mean regressing on ambition." Thomas Day an analyst at non-profit climate research group NewClimate Institute, said companies that are scaling back their efforts are often just abandoning unsubstantiated "lofty-sounding ambitions".’ The full article: https://lnkd.in/efqfp6sA Tracker data shows that 1,180 of the Forbes 2000 have set net zero targets, but only about 5% of company commitments meet the UN-aligned Race to Zero campaign’s ‘Starting Line’, a set of minimum procedural requirements for #netzero target setting. High-Level Climate Champions Reuters

Starting in 10 mins - 'Discovering Data on Net Zero Commitments' - joining details below: https://lnkd.in/euud2bJ3

It's time to celebrate another savant of scrutiny from our legendary global team of #NetZeroTracker volunteers. Meet Alex Dunn. Alex is a Modern Languages student at Trinity College, Oxford. In his spare time, he specialises in tracking Portuguese-speaking entities, and so far has tracked 22 Brazil-themed entities. Obrigado por tudo, Alex! “Hi there! I’m Alex, a student of French and Portuguese here at the University of Oxford. I’ve been volunteering for NZT for over a year now, but I’ve been passionate about #climateaction for far longer. When I was involved in the school strike movement, I was struck by the open, enthusiastic naming and shaming of polluters and #greenwashers – change could only happen with public scrutiny. Coming to university, I’ve found that volunteering for NZT has been a small but meaningful way for me to push the world in a greener direction. On the other hand, my eyes have been opened to the shallowness of the green façades which mask inaction among governments and companies. Currently, a #decarbonisation plan with integrity is sadly a rare find.   I’m currently on my year abroad in Brazil, which is an indispensable pillar of the world’s #biodiversity and #carbon sinks. I love putting my #Portuguese skills to good use and building my knowledge of this fascinating country at the same time. I’d like to thank Camilla Hyslop, John Bervin G., and the whole NZT team for the wonderful work they do - I’m really looking forward to staying involved. Let’s hold the world to account!” UK Universities Climate Network International Universities Climate Alliance Energy and Climate Intelligence Unit NewClimate Institute Data-Driven EnviroLab Oxford Net Zero  

It's time to celebrate another savant of scrutiny from our legendary global team of #NetZeroTracker volunteers. Meet Alex Dunn. Alex is a Modern Languages student at Trinity College, Oxford. In his spare time, he specialises in tracking Portuguese-speaking entities, and so far has tracked 22 Brazil-themed entities. Obrigado por tudo, Alex! “Hi there! I’m Alex, a student of French and Portuguese here at the University of Oxford. I’ve been volunteering for NZT for over a year now, but I’ve been passionate about #climateaction for far longer. When I was involved in the school strike movement, I was struck by the open, enthusiastic naming and shaming of polluters and #greenwashers – change could only happen with public scrutiny. Coming to university, I’ve found that volunteering for NZT has been a small but meaningful way for me to push the world in a greener direction. On the other hand, my eyes have been opened to the shallowness of the green façades which mask inaction among governments and companies. Currently, a #decarbonisation plan with integrity is sadly a rare find.   I’m currently on my year abroad in Brazil, which is an indispensable pillar of the world’s #biodiversity and #carbon sinks. I love putting my #Portuguese skills to good use and building my knowledge of this fascinating country at the same time. I’d like to thank Camilla Hyslop, John Bervin G., and the whole NZT team for the wonderful work they do - I’m really looking forward to staying involved. Let’s hold the world to account!” UK Universities Climate Network International Universities Climate Alliance Energy and Climate Intelligence Unit NewClimate Institute Data-Driven EnviroLab Oxford Net Zero  

One day to go until the 'Discovering Data on Net Zero Commitments' webinar, Weds Aug 7, 2024, 1500 BST, with: - Clea Schumer, Research Associate, Raising National Ambition, World Resources Institute - Leandro Vigna, Data Partnerships & Outreach Manager, Climate Watch - John Lang, Project Lead, Net Zero Tracker - Brynne Wilcox, Communications Specialist, World Resources Institute Register now: https://t.co/K0rWhV0I8y