Climate change is the most urgent issue of our time, and to limit its impact on life on earth, the rise in mean global temperature should not exceed 1.5 °C above pre-industrial levels.
The private sector plays a huge role in helping to achieve this goal, and companies must commit and take concrete action in accordance with the Paris Agreement.
The importance of achieving Net Zero
Science clearly shows that to avert the worst effects of climate change and protect a habitable planet, we must limit the rise in the Earth's temperature to no more than 1.5°C above pre-industrial levels. The Earth is now around 1.1°C warmer than in the late 1800s, and emissions continue to rise, fueling this warming. To achieve the 1.5°C target set by the Paris Agreement,emissions need to be reduced by 45% by 2030 and reach net zero by 2050.
The widespread global adoption of the Net Zero goal is an important element of climate action. More than 70 countries representing 76% of total greenhouse gas emissions, including China, the United States and the European Union, have set targets for net zero greenhouse gas emissions. Each country has set its own timeline for achieving these targets, with some looking to achieve Net Zero as early as 2035, most by 2050, and a few by 2070 at the latest.
At the 2021 COP26 Climate Summit, Prime Minister Pham Minh Chinh affirmed: “Vietnam is a country with an advantage in renewable energy that will develop and implement strong greenhouse gas emission reduction measures with its own resources along with the cooperation and support of the international community, especially developing countries including finance and technology transfer, in which, implementing mechanisms under the Paris Agreement, to achieve net emissions of "zero" by 2050.”.
Enterprises pursue Net Zero emissions target
To meet the global Net Zero emissions target, more than 1,200 companies have committed to science-based targets and rigorous actions to achieve these by 2030.
Furthermore, an increasing number of large corporations are supporting the transition to a carbon-free economy and are committed to using 100% renewable energy.
The JT Group is committed to accelerating the reduction of greenhouse gas emissions across the entire value chain and achieving zero greenhouse gas emissions by 2050. In line with this, JTI Vietnam launched its Net Zero Carbon Emissions program in 2020, working with Water Solutions Southeast Asia to implement. The program includes a series of projects that minimizes and offsets all carbon emissions from JTI Vietnam’s operations - from factory to offices.
| JTI Vietnam has deployed green activities within the Net Zero Carbon Emissions program towards the goal of sustainable development. Photos: JTI Vietnam |
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So far, JTI Vietnam has successfully offset more than 200 tons of CO2, which is equivalent to annual CO2 emissions from JTI's tobacco production at Thanh Hoa Factory; through growing bamboo, harvesting old and damaged bamboo, and burying bamboo to sequester carbon emissions. Furthermore, JTI has planted 5,400 trees in Xuan Son National Park to offset office emissions and achieving ‘Green Office’ certification from the Asian Institute of Technology. JTI Vietnam continues with its commitment to sustainability, undertaking carbon offsetting activities each year and combining these with employee-led environmental initiatives that help the company to reduce its impact on the environment, and tackle climate change.
| Through bamboo burying, JTI Vietnam has offset 202 tons of carbon emissions. |
| JTI Vietnam staff at Thanh Hoa factory harvesting old and damaged bamboo. |
Mr. Nguyen Cong Minh Bao – Corporate Affairs & Communication Director of JTI Vietnam states: “JTI is committed to sustainability throughout its operations to the benefit of the environment, society and business growth. Through the Net Zero Carbon Emissions project, JTI has captured 100% of emissions from production and office operations and has become one of the pioneers of zero CO2 emissions in Vietnam."
| Mr. Nguyen Cong Minh Bao – Corporate Affairs & Communications Director of JTI Vietnam (left) launched the carbon offsetting activities in Thanh Hoa. |
