What is a Carbon Budget?

Posted in on Nov 24 2022,by Ben Churchill Ben Churchill
What is a Carbon Budget?

Ben Churchill

Ben Churchill

Chief Strategy Officer

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The Intergovernmental Panel on Climate Change (IPCC) is a UN intergovernmental agency that represents 195 countries and is charged with delivering scientific assessments of climate change risks and consequences to policymakers. Hundreds of climate scientists and professionals evaluate their findings.

What is a carbon budget, and how does it work?

A carbon budget is the total quantity of carbon dioxide (CO2) emissions allowed over a set period of time in order to stay below a set temperature limit. The Intergovernmental Panel on Climate Change ( IPCC ) gives 400 billion tonnes of CO2 (Carbon Dioxide) as the global carbon budget to keep global warming below 1.5 degrees Celsius.

Global CO2 emissions are approximately 36 billion tonnes annually, therefore the 400 billion tonnes would only last 11 years if no improvements are made, indicating that the global carbon budget will be exhausted by the end of 2030. If successful by 2030, CO2 emissions would be down by around 45 percent from 2010 levels, with 'net zero' around 2050.

Where Do Carbon Budgets Derive From?

Several alternative models for determining carbon budgets have been proposed by climate scientists throughout the last decade. All of these algorithms have one commonality: they compare past carbon emissions to prior global warming rates in order to forecast rising temperatures. They differ in how they account for non-carbon emissions and other risks.

The worldwide total is calculated by the IPCC using a calculation determined by the amount of warming of the earth’s temperature that has occurred since the mid-1800s when carbon emissions started to build up in the atmosphere. Other factors that contribute to global climate change are also taken into consideration.

What is the Relationship Between Carbon Budgets and Emissions Reduction Targets?

Carbon emission reduction targets are percentage amounts that nations, governments, and businesses use to decrease their GHG emissions from baseline levels over a set timeframe. The purpose of setting emissions targets is to keep inside a carbon budget. Targets and budgets are interlinked, even if they're not created with a specific carbon budget in mind. Lowering Greenhouse gases presently frees up space in the carbon budget for future emissions.

Carbon budgets assist governments in maintaining accountability and determining if their GHG emission reduction objectives are sustainable with the main goal of minimising global warming. Improve your company's internal carbon management by utilising innovative technology that allows you to precisely monitor, evaluate, and decrease carbon emissions.

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How can CoolPlanet help?

When it comes to looking for help with carbon budgets, you're not simply seeking a software provider, you need a decarbonisation partner . The ideal partner will also contribute their engineering and consulting acumen to craft a practical roadmap that can swiftly yield meaningful results for you.

Whether you're a plant manager, a member of the company's leadership, or a sustainability manager, we work closely with you to formulate a strategic roadmap and support you in its implementation to attain tangible outcomes. Discover how a decarbonisation partner such as CoolPlanet can guide your team towards achieving net-zero goals.