We are pleased to announce that EMCORE has fully reduced its greenhouse gas emissions to net zero by 2022.
Achieving net zero is a race against time that we are all in together. It requires partnerships, thoughtful planning, strategies and, above all, action. As an independent asset manager, we must take responsibility for our emissions while delivering sustainable financial results. We underpin our climate action with science-based targets that define and promote best practices in emissions reduction. In our business units, we are working to develop strategies to reduce carbon emissions and identify areas for sustainable low-carbon growth.
As a first step, we measured our own company emissions. To do this, we enlisted the help of the Ecocockpit developed by the Effizienz-Agentur NRW to create a sound data basis and conformity with international standards such as ISO 14064-1. This has resulted in a greenhouse gas balance of 160 tCO2e, i.e. as the sum of all climate-impacting gases converted into CO2 equivalents. Identifying emission-intensive processes helps us to reduce our footprint in a targeted manner. We are already working to improve in these segments for future years.
Since it is never possible to avoid all emissions, there is only one tool left to balance the remaining footprint: The retirement of emission reduction certificates. To do this, we promote climate-positive projects that reduce global greenhouse gas emissions and take this benefit from the balance there to prevent double counting. For this process, we work together with the ClimeImpact Foundation, which we co-founded. The decommissioning process is certified by the auditing service provider Grant Thornton to exclude any possibility of green washing. Specifically, we have funded the African Biomass Energy Conservation Project in Malawi and the Florestal Santa Maria Project in Brazil to the reputable Gold Standard and Verified Carbon Standard standards respectively.
For further information: Climate Neutral Now | UNFCCC