Climate change is not merely a buzzword, at least not anymore. For decades, we’ve been hearing about the greenhouse gasses trapping the sun’s heat. The result is global warming, a phenomenon in which the world is heating up at a rate faster than ever recorded in history.
The three greatest contributors to climate change are natural gas, fossil fuels, and coal as stated by the United Nations. ESG or Environmental, Social, and Governance work is being carried out by companies to tackle climate change.
Customers also in today’s day and age will only vote their dollar in favor of sustainable brands. Surveys have been conducted to that end and one revealed that 78% of consumers favored ethical brands.
To gain customer trust and loyalty as well as combat climate change, companies must use certain strategies. In this article, we will discuss three ways this can be done.
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Utilize More of Hydrogen
Hydrogen is one gaseous element that has received the spotlight recently. It can be valuable in combating climate change. Being an eco-friendly option, hydrogen can easily replace fossil fuels and other conventional energy sources.
Also, the burning of hydrogen produces natural compounds like water. In case it is used in cell-electric or fuel applications, only heat and water are generated. This means it is sustainable and will lower the emission of greenhouse gasses.
Despite such qualities, there are some challenges involved in using hydrogen. For instance – it is a highly leakage-prone gas that requires proper storage. According to H2MOF, existing storage technologies are expensive and inefficient due to the significant amount of energy required to compress or liquefy the hydrogen gas. Alternative technologies such as solid-state hydrogen storage can help overcome this challenge, storing hydrogen under conditions of low pressure and ambient temperature.
You can click here to learn more about material based storage solutions.
It’s true that besides storage, companies need to face the challenge of expenses. Green hydrogen is anything but low-priced.
Furthermore, not all sectors currently have the infrastructure to substitute hydrogen as the primary fuel. An example would be land vehicles. Thankfully, ongoing research in this field generates hope that advanced technologies will be available soon.
However, organizations can start by figuring out areas where green hydrogen can be employed. A slow and steady approach is the key to accomplishing sustainability goals.
Reduce Energy Consumption
The use of renewable energy sources is not an overhyped practice, but an important one. The most popular sources of sustainable energy include solar energy, hydropower, wind energy, and tidal energy.
The following are how companies can use renewable energy sources.
- These sources can be used to reduce energy consumption. This will, in turn, decrease carbon footprint and help fight climate change.
- Another way to support clean energy is to invest in renewable energy credits (RECs). These can be bought from renewable energy providers so that carbon emissions are offset.
- Companies can become less dependent on conventional energy sources by increasing reliance on battery storage systems.
- Different industry verticals like the manufacturing sector can fuel factories and warehouses using renewable energy sources.
Besides substituting traditional energy with renewable ones, there are other ways to reduce energy consumption. These would include conducting an energy audit, powering down the equipment, and installing a programmable thermostat.
Can such large-scale renewable energy consumption be possible? It appears so because a report found that the world’s capacity for sustainable energy generation increased by 50% in 2023.
Waste Reduction
Waste is everywhere and the world is sinking deep in a miry pile of trash. Reducing waste production is another way climate change issues can be tackled effectively. It has been found that more than 350 million tons of waste was generated in 2023.
We are not suggesting that waste production can be made negligible at any point. From large industrial enterprises to small tertiary businesses, waste is produced by one and all. However, the focus must be on reduction techniques. Not only that but companies generating toxic chemical waste must find ways to safely dispose of it.
Depending on the size of the business, a relevant waste reduction method must be adopted. Small businesses can reduce the number of prints, replace disposable plates and cups with kitchen crockery, and segregate or recycle the waste properly.
Finally, gadgets’ longevity must be improved through proper maintenance. Repair should be the go-to option and replacement only the final resort.
Let’s draw to a close by stating that climate change initiatives can grow profits exponentially. Is it a surprise then that around 70% of Fortune 500 companies are involved in them?
Have you had any concerns that ESG strategies would somehow thwart revenue? Then, now is the time to drop those down! Just follow this article’s tips and you will experience concrete results.