What does net zero emissions mean?

At the COP28 UN Climate Change Conference, held in Dubai in November 2023, a record breaking 97,372 delegates came together to discuss global climate action. Their goal? To cut greenhouse gas emissions and revisit pledges made under the 2015 Paris Agreement. The Paris Agreement’s main objective was to limit global warming to “well below” 2°C, and preferably to 1.5°C, compared to pre-industrial levels.

Achieving this goal hinges on one key strategy: reaching net zero emissions. World leaders have agreed to address issues such as fossil fuel subsidies, deforestation, methane emissions, and the transition to clean energy, with an aim to reach net zero global emissions by mid-century (the year 2050).

But what exactly does net zero mean?

Net zero emissions meaning

The United Nations defines “net zero” as “cutting greenhouse gas emissions to as close to zero as possible, with any remaining emissions re-absorbed from the atmosphere, by oceans and forests for instance.” Whilst we may still emit some greenhouse gases, the goal is to balance those emissions with methods that remove an equivalent amount from the atmosphere.

Achieving net zero involves two main actions. First, it requires reducing emissions drastically—this is the primary focus. For example, switching to renewable energy sources like wind and solar (instead of using coal or gas) or improving energy efficiency in buildings and manufacturing processes.

Second, for emissions that can’t be eliminated, carbon offsetting strategies are used. These include reforestation projects (planting trees to absorb carbon dioxide) or advanced carbon capture technology (like direct air capture facilities that remove CO₂ from the air). These methods help balance out the remaining emissions.

Climate change basics: a glossary

If you’re new to learning about climate change, it’s helpful to understand the basics before diving into the concept of “net zero.” Here are some useful climate science terms to know:

Anthropogenic climate change

Anthropogenic means “related to human activity”, so anthropogenic climate change is climate change caused by humans.

Earth’s average surface temperature has risen about 2°F (1°C) since the late 19th century. Most of this warming has occurred within the last 40 years. 97% or more of actively publishing climate scientists agree that this trend is likely anthropogenic.

Climate change has numerous negative environmental effects, including extreme weather events, rising sea levels and melting of the polar ice caps.

Greenhouse gases

Many human activities and industrial processes produce gases like carbon dioxide, methane, and nitrous oxide. These are known as greenhouse gases. Greenhouse gases trap heat in the atmosphere, which causes the planet to warm. This phenomenon is called the “greenhouse effect.”

Carbon footprint

A carbon footprint is the total amount of greenhouse gases produced by a specific activity, event, individual, group, or organisation.

CO₂e

CO₂e stands for “carbon dioxide (CO₂) equivalent.” Carbon footprints are often measured in units of CO₂e.

Since there are many types of greenhouse gases, it’s helpful to have a single way of standardising them all. If you convert units of different greenhouse gases into the equivalent amount of carbon dioxide-based on each gas’s global warming potential (GWP), you’ll get units of CO₂e. This will allow you to express a carbon footprint using just one number, although the footprint may contain multiple gases.

Greenhouse gas

Global warming potential

1 kg Carbon dioxide (CO₂)

1 Kg CO₂e

1kg Methane (CH₄)

~12 Kg CO₂e

1 kg Nitrous Oxide (N₂O)

~ 114 Kg CO₂e

Carbon offsets

Carbon offsets are a way for companies to mitigate their environmental impact by 1) measuring the number of metric tons (tonnes) of CO₂e they emit, and 2) compensating for those emissions by purchasing carbon credits.

Typically, purchasing a carbon credit involves contributing to a project that either reduces current greenhouse gas levels in the atmosphere or lowers future emissions. Some examples of carbon offset projects include planting trees, capturing greenhouse gases through technology, or transitioning to renewable energy.

Decarbonisation

Decarbonisation means reducing carbon dioxide emissions by transitioning to low-carbon energy sources. It’s an essential step towards meeting net zero emissions targets.

Absolute zero

Absolute zero is typically used to refer to sustainability strategies that emphasise emissions cuts and lifestyle changes as the primary means of fighting climate change.

Carbon neutral

Carbon neutrality, also known as climate neutrality, is a similar concept to net zero. However, “net zero” puts more emphasis on emissions reduction, with carbon offsetting used as a secondary strategy.

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Why is having net zero targets important?

Net zero targets can help us stave off the negative impacts of climate change. But to reach net zero by 2050, we’ll all need to pitch in — national governments, regional governments, companies and individuals.

By combining emissions reduction strategies with carbon offsetting, organisations can take important steps towards preserving the health of the planet.

What is the Greenhouse Gas Protocol’s “scoped” approach to measuring emissions?

To reach your net zero goals, it’s crucial to understand how much your company is currently emitting. Not only is evaluating your business’ climate-related risk very important, but it may also be legally mandated.

In March 2022, the US Securities and Exchange Commission (SEC) announced it was considering passing legislation requiring all businesses to evaluate and disclose their climate risks. If the proposal is passed, publicly-traded companies will need to include a climate disclosure in their yearly financial reports. They’ll need to disclose their Scope 1 and Scope 2 greenhouse gas emissions. Scope 3 emissions will also need to be included if “material” (that is, if people using the disclosure to make decisions would potentially be affected by their absence.)

The definitions of “Scope 1”, “Scope 2”, and “Scope 3” come from the Greenhouse Gas Protocol (GHG Protocol), an organisation which supplies “the world’s most widely-used greenhouse gas accounting standards.”

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Scope 1 emissions

Scope 1 emissions are “direct emissions from owned or controlled sources.” These include any emissions produced from a company’s own property (for example, company vehicles or on-site manufacturing processes).

Scope 2 emissions

Scope 2 emissions are “indirect emissions from the generation of purchased energy.” These include emissions from electricity, or from heating and cooling buildings.

Scope 3 emissions

Scope 3 emissions are “all indirect emissions (not included in scope 2) that occur in the value chain of the reporting company, including both upstream and downstream emissions.” These include emissions produced by a company’s products, supply chain, or business travel.

According to McKinsey, organisations need to “define, execute, and evolve decarbonisation and offsetting plans for Scope 1 and 2 emissions, and potentially expand those plans to include Scope 3 emissions” to meet the goal of global net zero by 2050.

How can the travel industry work towards meeting net zero goals?

Sustainable Aviation Fuel (SAF) and other sustainable flight technologies Sustainable Aviation Fuel is produced from waste materials, such as used cooking oil or agricultural residues. It can provide up to 80% CO₂ emissions reduction compared to conventional jet fuel.

Today, many airlines and aerospace manufacturers are aiming to make greater use of Sustainable Aviation Fuel. As of 2024, over 450,000 flights have utilised SAF since its introduction, with more than 50 airlines having experience with this fuel type.

Other sustainable flight technologies are also being developed. For example, Airbus plans to create a zero-emissions, hydrogen-powered commercial aircraft by 2035, and a team at Oxford University is experimenting with a method to turn CO₂ back into jet fuel. One particularly exciting new technology is electric planes, which may be rolled out commercially in the US as soon as 2026 (fully-electric flights have already successfully taken off).

Interested in making your business travel greener? See how Aesop leveraged TravelPerk to support their sustainability journey. Discover how your company can benefit too.

Changes within the hospitality industry

Hotels, restaurants, and transportation operators are taking significant measures to become more sustainable. Some examples include:

Hilton's "Travel with Purpose" initiative aims to cut their environmental footprint in half by 2030. They're implementing water and energy-saving technologies across their properties globally .

AccorHotels' "Planet 21" program focuses on reducing food waste. They use AI-powered tools to track and minimise kitchen waste in their restaurants.

Marriott International's "Serve 360" program includes a goal to reduce water intensity by 15% by 2025. They're implementing water-saving technologies and practices across their properties.

Lyft, a ride-sharing company, has committed to using 100% electric vehicles on its platform by 2030, significantly reducing transportation-related emissions.

Overall, hospitality establishments are working to become more energy-efficient, reduce consumption, and make greater use of renewable energy. Some hotels around the world are now using solar panels, geothermal energy, hydro-electric generators, and biofuels to power their operations.

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Carbon removal

Carbon removal refers to removing CO₂ from the atmosphere. This can be achieved through methods like afforestation (planting trees) or ocean alkalinisation (adding alkaline substances to the ocean). It can also be achieved through technological solutions.

One promising type of carbon removal technology is direct air capture (DAC). DAC technologies remove CO₂ from the air. The CO₂ is then permanently stored in the ground or re-used elsewhere.

The UK government has allocated funding to support the development of DAC technologies. For example, the UK Research and Innovation (UKRI) has invested £31.5 million in a project led by Carbon Engineering UK to build a DAC pilot plant in the UK.

Airlines and travel industry groups are now partnering with direct air capture solutions. For example, Airbus, headquartered in the UK, has invested in Canadian company Carbon Engineering and is offering carbon removal credits through its ACCO (Airbus Carbon Capture Offer) service. easyJet has become the first airline to sign up for the Airbus Carbon Capture Offer, acquiring credits from 1PointFive's DAC facility in the US.

Switching to rail travel

At the individual level, travellers can always opt for more eco-friendly methods of travel when possible. For example, a journey from London to Madrid would emit 118 kg of CO₂ (or 265 kg of CO₂e) per passenger by plane, but only 43 kg of CO₂ per passenger by train.

The Rail Delivery Group (RDG) in 2023 introduced a new carbon calculator that provides more accurate emissions estimates. For example, the emissions for a journey from London to Edinburgh via electrified rail were recalculated from a previous estimate of 24 kg CO₂ee per passenger to only 12.5 kg CO₂ee. This new figure is approximately half of the previous estimation and significantly lower than emissions from car travel or flights.

Carbon offsetting

After taking action to reduce travel-related emissions, companies can offset their remaining emissions through forestry (carbon sinks) and renewable energy projects.

At TravelPerk, we’ve created GreenPerk to help companies measure, reduce, and offset their business travel carbon footprint. Our reporting methodologies align with the TCFD framework, and allow you to easily track your business travel emissions from all sources.

This will help you understand and disclose your Scope 3 emissions. You can then take action to reduce your emissions, and offset remaining emissions to meet your net zero goals by contributing to a VERRA-certified project through GreenPerk.

Jump on the road to net zero emissions with TravelPerk

As more organisations pledge to meet their net zero goals, the private sector plays a vital role in driving sustainable change. Companies like Aesop are already seeing the benefits of integrating sustainable practices, from cost savings to more flexible, eco-friendly travel options.

If you're looking to bring more sustainability to your business travel, TravelPerk can help. With GreenPerk, you can automatically offset your business travel's carbon footprint by contributing to VERRA-certified environmental projects on every trip.

TravelPerk also offers a user-friendly solution that simplifies every aspect of corporate travel—from booking flights and accommodation to managing itineraries. With an extensive library featuring tens of thousands of negotiated rates, TravelPerk ensures cost-effective travel options for businesses while keeping the employee experience second to none, and your environmental impact positive.