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STEP trends | Economic 

Greening Business

Concept The concept of and discussion on the carbon footprint originates from the Green movement and has been on the political agenda for quite some time. It has recently been picked up by economists as well, and not just because of rising energy costs. A carbon footprint is ‘the total set of GHG (greenhouse gas) emissions caused directly and indirectly by an individual, organization, event, or product’. The carbon footprint of an individual, a nation, or an organization is measured by undertaking a GHG emissions assessment. Once the size of a carbon footprint is known, a strategy can be devised to reduce it. Trajectory The mitigation of carbon emissions through the development of alternative projects such as solar or wind energy represents one way of managing the problem. A carbon footprint can be efficiently and effectively reduced by undertaking a number of measures: Life Cycle Assessment (LCA) to accurately determine the current carbon footprint. Identification of hotspots in terms of energy consumption and associated CO2 emissions. Where possible, changing to another (renewable) energy source such as wind turbines, solar panels, or even nuclear power, however controversial this might be. Optimizations of energy efficiency and, thus, reduction of CO2 emissions and reduction of other GHG emissions contributed from production processes. Identification of solutions to neutralize the CO2 emissions that cannot be eliminated by energy-saving measures.

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