Carbon Footprint Green Challenge
Companies are responsible for a significant share of global greenhouse gas emissions. In 2017, the Carbon Major Report by the Climate Accountability Institute estimated that 100 companies were responsible for 71% of all global emissions since 1988. As such companies have an important role to play in keeping global warming to the internationally-recognized target of well below 2 degrees C to avoid the most severe impacts of climate change. Corporate target-setting on greenhouse gas emissions has become standard practice in the past decade. But only recently emissions reduction targets began to make good business sense. Lower carbon footprint results in savings in operational costs. The vast majority of the savings result from reduction of energy consumption whether by lowering electricity from non-renewable or through responsible and efficient transportation.
Companies in Egypt are increasingly aware of the return to investment in sustainable business models. The market for emissions reduction services through efficient management of companies’ carbon footprint in Egypt is growing. However, a company cannot effectively manage what it cannot measure. A company’s carbon footprint must be measured by accounting for its direct and indirect emission effects as follows:
Some are readily measurable than others. Please see the Glossary of Net Zero for definitions of carbon footprint items.
The Innovation Challenge
GIMED Egypt is seeking innovative, practical and accurate solutions that would enable companies operating in Egypt to measure their carbon footprint in an economic way. The solutions would set realistic boundaries of what will be included in the measurement. It would include an effective system of data collection on the company operations itemizing the carbon footprint by operating line item; without creating unnecessary overhead costs.
Questions about the proposed innovations: