Carbon Neutrality - The future awaits

Climate change is already affecting the entire world, with extreme weather conditions such as drought, heat waves, heavy rain, floods and landslides becoming more frequent. Other consequences of the rapidly changing climate include rising sea levels, ocean acidification and loss of biodiversity.

In order to limit global warming to 1.5 degrees Celsius the Intergovernmental Panel for Climate Change (IPCC) suggests carbon neutrality by mid-21st century is essential. This target is also laid down in the Paris agreement signed by 195 countries, including the EU.

What is carbon neutrality?

Carbon neutrality means having a balance between emitting carbon and absorbing carbon from the atmosphere in carbon sinks. Removing carbon oxide from the atmosphere and then storing it is known as carbon sequestration. In order to achieve net zero emissions, all worldwide greenhouse gas emissions will have to be counterbalanced by carbon sequestration.

Carbon sink is any system that absorbs more carbon than it emits. The main natural carbon sinks are soil, forests and oceans. According to estimates, natural sinks remove between 9.5 and 11 Gt of CO2 per year. Annual global CO2 emissions reached 38.0 Gt in 2019.

To date, no artificial carbon sinks are able to remove carbon from the atmosphere on the necessary scale to fight global warming.

The carbon stored in natural sinks such as forests is released into the atmosphere through forest fires, changes in land use or logging. This is why it is essential to reduce carbon emissions in order to reach climate neutrality.

Carbon offsetting

Another way to reduce emissions and to pursue carbon neutrality is to offset emissions made in one sector by reducing them somewhere else. This can be done through investment in renewable energy, energy efficiency or other clean, low-carbon technologies. The EU’s emissions trading system (ETS) is an example of a carbon offsetting system.