How do you set and track carbon reduction targets?

In my experience, setting carbon reduction targets is indispensable for both environmental stewardship and business competitiveness. I agree with the points you made, but there's a need to be technically precise. Preliminary Steps: Start with a baseline carbon audit. Identify Scope 1, 2, and 3 emissions as per the Greenhouse Gas Protocol. Set science-based targets. In my experience, operational changes like retrofitting HVAC systems can yield immediate results. Explore IoT sensors for real-time monitoring. Financials: Conduct a Cost-Benefit Analysis using NPV and IRR, and consider green bonds for financing. Monitoring: Reporting via frameworks like TCFD ensures transparency. Periodically review and adjust your targets and strategies.

We work with large multi-facility clients everyday to help pull together auditable and verifiable scope 1 & 2 GHG reporting. My best advice is to start now on pulling together utility data (electric, gas, water, waste). Most utilities keep 12 months of digital access on a website. After 12 months, your manually pulling invoices and entering data which is much more difficult and expensive. Start now to pull together your baseline year data! We can help!

In my experience, setting carbon reduction targets is a multi-step process that needs to align with recognized frameworks for credibility and effectiveness. Baseline Measurement: After measuring your carbon footprint, align it with frameworks like the Science Based Targets initiative or the Carbon Disclosure Project for target setting. Target Formulation: Based on my work, SMART targets are essential. Make them as specific, measurable, achievable, relevant, and time-bound as possible. Aligning with the UN SDGs or the Paris Agreement can also lend your goals global relevance.

At THG, we have adopted the Corporate Standard GHG Protocols for GHG scope 1 & 2 reporting. This protocol complies with all the major reporting guidelines. Getting accurate data for baseline and ongoing performance is critical. Using the data to inform opportunities for energy management and load reduction is also absolutely necessary. The THG Energy Intelligence Suite leverages GHG data and helps identify energy efficiency and demand management opportunities for savings and emission reduction. Don't let your emissions data be trapped in a separate platform that isn't able to identify and implement energy and load reduction. Focus on tracking and benchmarking both energy savings and emission reductions. We can help!

At THG, we've spent a lot of time helping clients execute on carbon reduction goals. We have a very practical, pragmatic, and streamlined approach to measuring, managing, and implementing energy efficiency along with integrating the purchase and tracking or RECs, PPAs for renewables, and DER (solar and battery) net metering. We work closely with electricity providers and advisors to streamline and track these activities by agreement, applied to specific facilities. We are DOING this work, measuring and benchmarking progress and solving these issues with our clients everyday.