A recent study has cast doubts on the nature of climate change contributions from corporations.
Companies are either being forced to transition to clean energy sources or are getting incentivized for doing so in the form of tax cuts etc. This was done to bring pace to the transition to sustainable energy, but many corporations are finding loopholes and manipulating the system to reap the benefits or avoid any penalties without actually contributing to the cause. For example, a lot of companies are paying green energy companies to buy a certificate from them that will help them offset their carbon emissions on paper while using standard fossil fuel sources from the grid.
While companies reported 20%-30% less carbon emissions, in the real world their emissions had barely gone down by 10%. According to Anders Bjorn, a researcher at Montreal’s Concordia University School of Management, if companies had cut down emissions at the rate that they reported, we would have reached the Paris Climate Agreement targets.
“When you look at all these companies that have reported emissions reductions, you would probably get the idea that total emissions from the grid are reducing really fast. That might not be the case.” said Bjorn.
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Technology is a useful servant, but a dangerous master, it was rightly said. Electronic devices have grown into an inevitable part of our daily lives.
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