As more organizations commit to net zero targets, it has become increasingly important for them to develop plans to address their residual emissions – the emissions that remain after implementing strategies to reduce all internal emissions as quickly as possible. But it’s not always straightforward to determine all the options available or what approach will make the most sense for your organization.
At the winter 2020 Renewable Energy Sourcing Forum, Stephanie Harris, Director, Carbon Markets at 3Degrees joined Smart Energy Decisions’ Debra Chanil to discuss potential pathways for addressing residual emissions and how companies should think about getting started or continuing on this journey. Watch the video to learn more.
As 2020 comes to a close, we all have a lot to reflect on. It’s been an unprecedented, challenging, and for many, a deeply painful year. It’s also been a year of breaking norms and connecting in new ways. At 3Degrees, we’re grateful for the resilience of our teams and our client partners as we’ve continued to pursue meaningful climate action together.
So, like this entire year, our 2020 year-end video looks a little different. We hope this snapshot of our year at 3Degrees brings some light—and maybe even a laugh—to your holiday season.
Cheers to a safe and happy holiday, from the team at 3Degrees.
In a recent webinar, Rebecca Sternberg, VP, Energy and Climate Practice at 3Degrees and Jason Mortimer, VP, Sales at LevelTen Energy examined the options available to companies that are tackling their supply chain emissions, including the strategic role that renewable energy aggregation can play in a comprehensive supply chain initiative.
Scott Martin, VP, Business Partnerships, and Maya Kelty, Senior Manager, Regulatory Affairs, partner with CDP on an interactive webinar with several 3Degrees clients. Scott and Maya to explore the nuances and complexities of the global renewable energy market.
This 50 MW project came online in 2016 and is composed of 25 turbines. Over the course of construction, the project created construction jobs, helped boost the surrounding economy and provided an interesting project for local spectators to keep tabs on. Located in the small town of Huntington, Oregon, the wind farm is located on a family owned ranch and is expected to be fully operational for 20 years.
The landscape for international renewable energy options is evolving rapidly and it can be difficult to stay on top of the relevant options for your business. 3Degrees’ Stein Haugan and Noah Bucon discuss the current state of the GO and I-REC markets, including regulatory and pricing updates.
In 2017, Mondelēz International engaged 3Degrees for assistance meeting an ambitious goal: reducing its absolute greenhouse gas emissions vs. a historic base year in each of its four global operating regions. The company thinks of emissions reductions in a virtuous cycle, progressing through usage reduction, on-site consumption from low and zero carbon sources, cost effective solutions that don’t require a change in the supply chain and, finally, off-site renewable solutions to help close any remaining gap. Mondelēz International had been making steady progress through energy efficiency and other on-site solutions, but needed additional reductions to achieve its goals. 3Degrees was hired for a three-year engagement to establish a strategy to achieve the company’s goals across all regions and to support the regional teams’ resulting implementation.
We knew that Mondelēz International’s needs were complex, but we were up to the task and readily accepted the challenge. The company’s ambitious requirements included: the reductions needed to be in place for calendar year 2020 reporting; each region must meet the goal independently; each implementation solution must have a cost-neutral or cost-saving economic profile; and no unbundled instruments such as RECs or GOs could be used.
How we helped
3Degrees began the engagement by identifying emissions hotspots across Mondelēz International’s global operations, then assessed specific countries where it could get the “best bang for their carbon buck”. For example, we looked for opportunities where one solution could address multiple issues, thus optimizing the company’s resources. We honed in on four areas that looked to be the most promising in meeting Mondelēz International’s goals:
Green retail (in deregulated markets)
Combined heat and power solutions (CHP)
Off-site renewable solutions
For each one of these prospective solutions, 3Degrees conducted a comprehensive analysis that was specific to each region and its target reduction goals. The analysis also included an assessment of specific facilities in the region whose emissions profiles were sufficiently large to allow for a meaningful contribution to the goal should a reduction solution be pursued. We then mapped solutions to each facility, taking into account regional policy environments, resource availability, vendor landscape, project economics, and other factors.
“This was an ambitious assignment because Mondelēz International’s needs were complex and global in nature. But we were up to the challenge and feel very positive about the global strategy road map we were able to deliver and the significant emissions reductions that will come as a result.”
– ERIN CRAIG, VP ENERGY AND CLIMATE PRACTICE, 3DEGREES
3Degrees delivered a global strategy roadmap that will enable Mondelēz International to meet its emissions reduction goals in all four regions by the company’s 2020 target, with solutions that are cost-neutral or better. In some regions, multiple implementation options are available and the company’s regional teams are engaged in final alignment discussions; in other regions, implementation work has already begun. 3Degrees is supporting these implementations, as well as needed changes in Mondelēz International’s greenhouse gas accounting practices to correctly quantify the resulting reductions.