Our busy lives may leave us with little time to experiment with and implement the kinds of significant lifestyle modifications required to lower our carbon footprints. Even while we desire to make changes, the need to act isn’t usually the first thing on our minds because the amount of carbon we generate every day is an intangible. Because of this, a slew of new carbon footprint tracking apps have appeared, each of which promises to lighten the moral and cognitive burden of the carbon-conscious consumer.
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What is a carbon footprint?
The phrase “carbon footprint” refers to the overall amount of glasshouse gases that people emit every day through their use of energy, use of gas-powered transportation, disposal of non-recyclable garbage, and consumption of diets high in meat. Water vapour, carbon dioxide, methane, nitrous oxide, and ozone are examples of glasshouse gases. These gases trap heat in the earth’s atmosphere and cause climate change through a warming process known as the glasshouse effect. Carbon footprints therefore aid in understanding the effects of human activity on the environment by roughly estimating the gases added to the atmosphere.
Reduced glasshouse gas emissions are essential for the following four reasons:
1. Clearer Air & Skies – Reducing our carbon emissions not only improves the general air quality but also helps reverse the effects of global warming. Furthermore, it results in brighter sky!
2. Save Money – Simply reducing your energy use can lower your operating costs and carbon footprint.
3. A more wholesome water supply – Greenhouse gas emissions increase air temperatures, which directly affect the oxygen content of rainwater and cause rainfall to be less frequent.
4. General Health – By improving our food, water, and air quality, we can greatly reduce the number of current climate-related health problems.
There are some benefits to calculating carbon emissions:
Finding a company’s carbon footprint exposes how much waste and inefficiency it has. This could be advantageous for the expansion and growth of a business. No company can maintain wasteful operations at escalating levels. Measuring carbon and glasshouse gas emissions has many benefits.
Lowering operating expenses
A corporate value chain’s carbon emissions can be measured to identify wasteful expenditures on service components and procedures. A company’s costs and expenses can be reduced by switching to alternative energy sources, identifying wasteful materials, simplifying the capacity of product delivery, and tracking. increased profit margin as a result.
Boost brand credibility
Customers choose brands based on how well they uphold their social and environmental responsibilities. Even greater prices will be accepted by them.
More than 88 percent of consumers, according to Carbon Credit Capital, choose to purchase eco-friendly, carbon-neutral items over alternatives. Products and services that are carbon neutral can also satisfy client needs in other ways, such as affordability, recycling, paperless choices, and energy-saving options.
Improve brand reputation
Customer-facing sustainability initiatives can improve a company’s reputation, boost brand value, and establish the bank as a pioneer in sustainable financial options.
Increase engagement
Customers are encouraged to check in and participate when given information on how their purchases affect their carbon footprint. In order to boost participation, banks can also provide customers personalised tips and reminders about actions they can take to lessen and balance their influence.
Product differentiation
Giving banks access to carbon tracking and analysis would help them gain a competitive edge and draw in the expanding market of environmentally conscious consumers.
Better ESG performance
The banking sector has been impacted by the mandated ESG (Environmental, Social, and Governance) reporting standards and political pressure on carbon reduction. Carbon tracking enhances the performance of ESG.
Potential for economic growth
Reducing your company’s overall carbon footprint could encourage economic growth through the development and investment in renewable energy sources. These possibilities can significantly impact the amount of money that is accessible for other commercial endeavours because they are less expensive than nonrenewable sources.
Use the carbon footprint app to track your carbon emissions and reduce them timely!
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