How Companies Can Achieve Net-Zero Carbon Emissions
Lena Park
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What are net zero emissions and what are the current figures?
The widespread definition for Net Zero Emissions would be “adding no more greenhouse gases to the Earth’s atmosphere than the amount you’re taking out.” However, most companies fail to secure net zero emissions, and most large businesses exceed this limit as well. Namely, ExxonMobil, Saudi Aramco, and other oil and gas companies contribute the most to global emissions, such as ExxonMobil which reported 730 million metric tons of CO₂in 2019, while Saudi Aramco was responsible for over 4% of total global emissions since 1965.
Strategies
Given that achieving net-zero emissions would require companies to cut off emissions entirely, it presents a significant challenge—especially for oil and gas companies. It is particularly harder for these companies due to their overreliance on fossil fuels and their business structure. Their business model is centered around extracting, refining, and selling fossil fuels as energy sources; shifting away from these practices requires considerable investments and a restructuring of business procedures, leading to the halt of many fuel-focused lines. However, some strategies can still be implemented to guide these fossil fuel-based companies and help them transition to a more sustainable and long-term business model.
Triple investments in renewables
According to the United Nations, “at least $4 trillion a year needs to be invested in renewable energy until 2030” accounting for investments, technology, and infrastructure. Although the initial cost seems extremely huge, it is essential for long-term sustainability, and it is also cost effective as it could save up to $4.2 trillion annually.
Examples
British Petroleum is one of the largest companies located in the UK, which focuses on oil production and refinement, but has recently adopted the net zero emissions strategy by transitioning to the production of low-carbon energy. Some strategies this oil company adopted to take up more renewable projects were by reducing their scope 1 and 2 emissions through maintaining ‘near-zero’ methane intensity’ supported by government policies. Additionally, they plan to incorporate energy demand decarbonization, which refers to minimizing carbon emissions linked with energy use.
Works Cited
“Five Ways to Jump-Start the Renewable Energy Transition Now.” United Nations, www.un.org/en/climatechange/raising-ambition/renewable-energy-transition. Accessed 09 Mar. 2025.
“Getting to Net Zero: Sustainability: Home.” Bp Global, www.bp.com/en/global/corporate/sustainability/getting-to-net-zero.html. Accessed 09 Mar. 2025.
International Energy Forum. “Net Zero Oil and Gas Operations - An Important Transition Goal.” International Energy Forum, 25 July 2024, www.ief.org/news/net-zero-oil-and-gas-operations-an-important-transition-goal. Accessed 09 Mar. 2025.
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