When to reach ‘net zero’? Various greenhouse gases discussed
Different greenhouse gases require different pathways to reach net zero, as do various economic sectors. In a report, colleagues of RaboResearch explain the greenhouse gases that make up emissions in the agriculture, forestry, and other sectors, and consider their specific reduction pathways. Because, although the most recent climate science points to strongly reduce all emissions in order to limit global warming, the often-used ‘net zero 2050’ does not count for áll.
Rabobank published its extensive climate plan Our Road to Paris two years ago. Since then, we have continued to learn and develop our approach. But climate change is a complex topic and the use of scientific terms and financial metrics can make it difficult for people to understand how it impacts our clients and what we are trying to do to avoid the worst impacts.
Dialogue about greenhouse gases
Strongly reducing greenhouse gases is the core of fighting climate change. But what are the different gases? Where do they come from? What is their impact? How quickly do we need to reduce them? And how does the bank deal with them all?
To keep people up-to-date on our evolving approach to climate and to make it easier to understand, we strive to share more about the most important parts of ‘Our Road to Paris’. In this video, Rabobank’s Head of Climate Luke Disney talks about greenhouse gases with RaboResearch Strategist Marjan van Riel.
Rabobanks ‘sector x region’-approach
The United Nations Intergovernmental Panel on Climate Change (IPCC) has set out decarbonization pathways for different greenhouse gases. According to the IPCC, 1.5-degree temperature scenarios require carbon dioxide (CO2) and fossil-based emissions to be reduced to net zero by approximately 2050. While non-CO2 greenhouse gases such as (biogenic) methane and nitrous oxide can reach net zero at a later time, namely in the second half of the century.
These different transition pathways are reflected in the ‘sector x region’ approach Rabobank uses to take into account the diversity in impact of a sector (for instance the agricultural sector) and the region in which it operates (the natural circumstances and solution can vary per geographical region).