- May 9, 2022
- Posted by: Solverminds
- Category: Press Release
A prominent UN paper released recently stated countries can still limit warming to 1.5 degrees Celsius by frantically cutting greenhouse gas emissions and investing in carbon capture technology, but that window is closing fast. We’d have to hit peak emissions by 2025 and then send them down a Black Diamond to keep things under control.
The potential severity of human-induced climate switch is gaining awareness. Amongst more than 2,000 business and financial institutions, Solverminds has responded to the SBTi’s urgent call for corporate climate action by working actively with Science-Based Target initiatives (SBTi) to lessen our carbon emissions by 1.5° in line with climate science.
What is a Carbon Footprint?
A carbon footprint is the total amount of greenhouse gases (including carbon dioxide and methane) that are generated by our actions. The greenhouse effect refers to a natural process by which energy radiates from the planetary surface towards space, causing some of the energy from the sun to be absorbed and reflected by atmospheric gases. Like a greenhouse, this process enables the planet to maintain its climate and sustain life.
What are Greenhouse Gases?
By definition, Greenhouse gases are gases that trap heat into the atmosphere. As mentioned previously, these gases are made up largely of carbon dioxide and methane but also include gases like nitrous oxide and fluorinated gases.
Excessively emitted greenhouse gases (GHG) primarily come from the use of organic fossil materials, of which the main type is typically carbon dioxide (CO2). As a result, greenhouse gas emission reduction is also called carbon emission reduction.
Why Science-Based Targets?
An international framework has been set out during the Paris Agreement aiming to limit global warming to well below 2°C and pursuing efforts to limit it to 1.5°C through strengthening the response to the menace of climate change.
That’s why many companies, including Solverminds, as a part of their environmental capital, undertaking ambitious Science Based Targets to combat climate change and ensure a positive environmental footprint.
What are Science-Based Targets?
Science-based targets are greenhouse gas emission reduction targets that are informed by independent climate science research. Science-based targets future-proof business growth by reducing greenhouse gas (GHG) emissions. The defined pathways for companies make sure emissions are in line with the Paris Agreement on climate change adopted by 196 parties to regulate global warming. So companies setting ambitious targets spread a clear signal that businesses must work towards the direction to achieve this stretching but necessary goal.
The Benefits of Science-Based Targets?
As part of their environmental capital, Solverminds is focused on ensuring a positive environmental footprint and is thus engaged with Deutsch Quality Systems India to calculate and validate their carbon footprint emissions for the Base Year FY 2019-20 and Current year FY 2020-21.
The technological capacity to achieve our science-based target was somehow already existing, e.g. solar panels, but setting a goal has increased the likelihood of identifying more creative solutions with greater focus. It has already led us to bring a strong business proposition in terms of environmental, social, and government management initiatives.
The challenge of significantly reducing emissions by combining sustainability and profitable innovation has provided transparency and greater authenticity to our brand. “The global transformation towards science-based targets has made it vital for our brand to ride the momentum toward building and securing our organization’s low emissions future. Overall, since our target is known throughout our organization, the number of people actively seeking solutions has multiplied,” says Anthony Damian, managing director of Solverminds.
How Solverminds’ ISO Certification helps with GHG reduction
Solverminds were ISO – 14064-1 certified on March 1, 2006. The International Organization for Standardization released ISO 14064-1, establishing a process for quantifying GHG emissions.
Organizations that investigate and quantify GHG emissions and removal within one year get the most benefits from ISO14064-1. Besides direct radiations from the organization’s emission sources (direct emissions or Level 1 emissions, e.g. emissions from boiler chimneys or vehicles), the organization has become attentive to the radiations created from producing the electricity it uses (indirect emissions or Level 2 emissions) and some emissions generated by everyday business activities (other indirect or Level 3 emissions, e.g., from staff transportation during business trips). GHG emissions from human/animal respiration and biomass combustion are not considered in ISO 14064-1.
What Further Changes can be Expected from Solverminds towards Science-Based Targets?
“Solverminds is actively spreading the word about rising concerns regarding GHG through social media, client presentations, webpages to persuade more companies to get interested in setting up Science-Based Target towards Carbon Neutral Footprint,” says Anthony Damian, managing director of Solverminds.
How has setting these targets informed Solverminds’ wider sustainability strategy?
Solverminds’ environmental action plan covers all Solverminds’ direct and indirect emissions for the year FY 2019-20, and it is considered a baseline year for Solverminds. Our organizational carbon footprint is 204.38 tCO2e for FY 2020-21, and we are determined to support the industry-wide transition to a low-carbon economy. Solverminds’ commitment to this reporting ensures that we become carbon neutral in the future by considering short term and long-term carbon reduction targets. In addition, Solverminds supports the generation of more renewable energy than we consume, making the surplus available to the communities in which we operate.
Established in 2003, Solverminds is a leading next-gen global technology company with a vision to empower businesses with innovations reimagined. Our exceptional domain expertise and cutting-edge technology solutions offer a complete range of best-in-class products for liner operations management, ship management, agency management and advanced analytics.
While our technological focus is on delivering reliable, resilient and robust solutions that embrace artificial intelligence (AI), machine learning (ML), predictive analytics, and big data, our strategic focus remains on quality and customer-centric approach, research and developments and thought leadership.
Solverminds is a smart and sophisticated technology provider of a wide range of solutions and services that enfolds integrated and bespoke ERP, global consulting, cloud systems and advanced analytics. We help you ascend the ridges of the extremely competitive current world by automating your business processes while offering actionable insights, predictive outcomes and organized solutions to make informed decisions.
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