Join the Climate Revolution: Ibiza SunPower Teams Up with SME Climate Hub for Impactful Change!
We are thrilled to share that Ibiza SunPower has officially committed to achieving net zero emissions by 2040! As part of our dedication to sustainability, we will provide annual reports to keep you informed about our progress.
Together, we are building a resilient future for our business and the planet. Thank you for your support on this vital journey!
What is Net Zero?
Net zero means reducing carbon emissions to a minimal level, allowing any remaining emissions to be naturally absorbed and stored by the environment, resulting in no net release into the atmosphere.
Why is Net Zero Important?
To mitigate the severe impacts of climate change and maintain a livable planet, we must limit global temperature rise to 1.5°C above pre-industrial levels. Currently, the Earth is about 1.1°C warmer than in the late 1800s, with emissions still on the rise. To meet the Paris Agreement’s goal of limiting warming to 1.5°C, emissions must be reduced by 45% by 2030 and reach net zero by 2050.
How Can Net Zero Be Achieved?
Reaching net zero presents one of humanity's greatest challenges, requiring a fundamental shift in our production, consumption, and transportation practices. The energy sector, responsible for about three-quarters of current greenhouse gas emissions, is crucial for climate action. Transitioning from fossil fuels like coal, gas, and oil to renewable energy sources such as wind and solar can significantly reduce carbon emissions.
Is There a Global Effort to Reach Net Zero?
Yes, a growing coalition of countries, cities, businesses, and institutions is pledging to achieve net-zero emissions. Over 140 countries, including major emitters like China, the U.S., India, and the EU, have set net-zero targets, covering approximately 88% of global emissions. More than 9,000 companies, 1,000 cities, and over 600 financial institutions have joined the Race to Zero, committing to halve global emissions by 2030.
How Do We Ensure Commitments Lead to Action?
While the number of net-zero pledges is increasing, the criteria behind them vary widely. To establish clearer and more robust standards, UN Secretary-General António Guterres formed a High-Level Expert Group on Net-Zero Emissions Commitments of Non-State Entities in March 2022. This group presented its recommendations at COP27 in November 2022 to enhance accountability and accelerate implementation.
Are We on Track to Reach Net Zero by 2050?
Currently, government commitments are not sufficient. National climate plans from the 195 Parties to the Paris Agreement are projected to increase global greenhouse gas emissions by nearly 9% by 2030 compared to 2010 levels. To meet the 1.5°C limit set by the Paris Agreement, emissions must be cut by 45% by 2030, and net zero must be achieved by 2050. This requires significant strengthening of Nationally Determined Contributions (NDCs) and immediate action from all governments, especially the largest emitters.
