Decarbonisation is the process of removing or reducing carbon emissions produced by humans with the aim of achieving zero emissions. Essentially it is a process of replacing fossil fuels, which contain large amounts of carbon in their composition (coal, gas and oil), by environmentally friendly fuels from renewable sources (wind, solar, green hydrogen, ...).
The 2015 Paris Agreement aims to reduce emissions from the EU by at least 55% by 2030, with a commitment to achieve neutrality by 2050 and make Europe the first impact-neutral economy, meaning that in 28 years' time the energy vectors should be fully decarbonised.
This carbon neutrality could be achieved by 1) balancing carbon emissions and removals through natural reservoirs (soils, oceans and forests) or 2) eliminating CO2 emissions altogether.
For a company to become carbon neutral it will have to drastically reduce its output, which may not be realistic, at least in the medium term, or balance its emissions by buying carbon credits.
This ecological transition, besides having an impact on short-term costs, plays a key role in the Wellow™ Group's strategy in the medium/long term, both on an environmental level - through the adoption of greener practices such as the installation of solar panels in some of our facilities, digitalisation of processes, electrification of the vehicle fleet, ..., and on a social level - through the creation of more job opportunities, improvement of the group's image by the concern to reduce the carbon footprint as well as on an economic level - through new business opportunities.
For the strategy to be successful, it is essential to measure and monitor CO2 emissions, classified according to the GHG (Greenhouse Gas Control) protocol into Scope 1 (emissions emitted into the atmosphere as a direct result of operations), Scope 2 (indirect emissions from purchased electricity) and Scope 3 (all other indirect emissions that occur in the company's value chain, such as purchased raw materials, business travel and employee commuting, ...).
In the specific case of the Wellow™ Group, the greatest environmental impact is mainly due to greenhouse gas emissions (GHG) from the vehicle fleet (Scope 1). Since 2021 we have a plan in place for the gradual electrification of the vehicle fleet, which by the end of 2022 will reach 20%.
The fact that we buy 100% green electricity for our business today has enabled us to greatly reduce our carbon footprint as well as virtually offset annual Scope 2 emissions.
The emissions associated with Scope 3 are the most difficult to account for (employee transport, waste production, purchases of goods and services, and so on) but we are aware of this and often launch awareness-raising actions aimed at reducing these emissions (carpooling and recycling, for example).
2050 may sound distant and the goals to be achieved impossible, but we at Wellow™ Group, when it comes to energy and carbon management, believe that more than adapting to legal and regulatory requirements, we have a commitment to the planet and to generations to come.
For us the emergency is clear and total, and we have already started down the path towards mitigating or eliminating our impact. After all, 2050 is upon us.
By João Farinha | Chief Executive Officer Wellow™ Rent & Drive
