Last week, Amazon announced that they are speeding up their sustainability efforts, opening Centers, shops, and warehouses around the world seven years earlier than planned. Meanwhile, Google reported that their corporate emissions increased by 13% last year, leading to the abandonment of previous statements about complete carbon neutrality.
While it may appear that Amazon is taking the lead in combating climate pollution, Google’s approach to reducing greenhouse gas emissions may be more justified. There is a growing sentiment that the speed at which carbon neutrality is achieved is not as important as how it is achieved. A new corporate climate action concept emphasizes the broader impact on the climate rather than solely focusing on balancing carbon emissions.
The primary concern is that the cost and complexity of achieving zero emissions can create misguided incentives. Companies may prioritize the quickest and cheapest ways to offset their emissions on paper rather than implementing genuine emissions reductions. This can involve purchasing inexpensive carbon credits to compensate for ongoing pollution rather than taking steps to actually reduce emissions at the source. While initiatives like tree planting and ecosystem restoration may be included, these efforts often overstate their climate benefits.
Carbon credits and Renewable Energy Credits (RECs) are also under scrutiny. For instance, purchasing RECs may support renewable energy generation without necessarily leading to a real reduction in emissions. As a result, companies may claim to be offsetting their pollution when in reality they are not.