Based on the significant emissions profile of commercial buildings (35% of US emissions) and energy-intensive systems usage (e.g., large-scale refrigeration and HVAC units), commercial building operators are leading initiatives to reach Net Zero emissions targets, driven by organizational CSR goals or policy / regulation deadlines (2040 Net Zero goal in New York).
To achieve these targets, a range of Carbon Mitigation, Offset, and Removal initiatives are being pursued – initiatives include 1) energy efficiency improvements (heat pumps, low-GWP refrigerants, LED lighting), 2) Demand Response programs (Microsoft partnership with Enel X and Eaton), 3) On-Site Renewable Generation (distributed energy resources such as solar and battery storage), 4) renewable energy credits (Google has purchased 2.6 GW of renewable energy credit offsets), 5) Reforestation (which provide carbon credits for offsetting), and 6) Direct Air Carbon Capture / DACC (emerging strategy for carbon removal).
Going forward, organizations are likely to continue aggressive Net Zero targets, which will require a multi-faceted strategy of several Carbon reduction strategies, enabling significant opportunity for suppliers that can provide robust solutions to manage these initiatives, in addition to accurate Carbon tracking / management to simplify reporting from building-level to enterprise / corporate level and regulators.
