Principles for making a net zero commitment
Principles for making a net zero commitment
Net Zero: Joining the race, investing, and offsetting
This page provides principles for joining the race to net zero, investing in alignment with net-zero goals, approaching carbon offsetting in alignment with net zero commitments, and 7 attributes for getting net zero right. Click on the buttons to find out more about each set of research-based principles, or scroll down to browse through all four.
How to Commit to Net Zero:
Criteria for Joining the Race to Zero
Net zero commitments are now expected standards for companies, local, regional and national governments. The following are clear steps to follow in setting net zero commitments, developed by the University of Oxford through an extensive series of stakeholder workshops. These are the same as the minimum criteria for the UNFCCC-backed Race to Zero Campaign ahead of the Conference of Parties in Glasgow this year, a pivotal moment in global climate negotiations. By taking these steps your institution can join the global effort to meet the Paris Agreement goals.
The steps below come from the official criteria for joining the Race to Zero campaign. The criteria were created by the networks and initiatives that form the Race to Zero’s international climate action community. Download a mapping of the criteria, which provides questions to ask your institution about its targets.
Looking for tools to help you follow these steps?
— Pledge
2 — Plan
3 — Proceed
4 — Publish
4 — PERSUADE
HOW TO COMMIT TO NET ZERO:
PRINCIPLES OF NET ZERO-ALIGNED INVESTMENT
The Oxford Martin Principles for Net Zero-Aligned Investing provide a framework for engagement between climate-conscious investors and companies across the global economy. Building upon the science of long-term climate change, they focus on how investments contribute to the global stock of cumulative carbon dioxide emissions, complementing other measures, such as carbon footprinting, that focus on emission flows.
Looking for tools to help you follow these steps?
1 — COMMIT TO NET-ZERO EMISSIONS
2 — DEVELOP A PROFITABLE NET-ZERO BUSINESS MODEL
3 — use QUANTITATIVE MEDIUM-TERM TARGETS
how to commit to net zero:
Net ZERO-AliGNED OFFSETTING PRINCIPLES
Carbon offsetting is a widespread tool in efforts to achieve net zero emissions. It involves payment to receive credit for a certified unit of emission reduction or removal carried out by another actor. Current approaches to offsetting are unlikely to deliver the volume and type of mitigation needed to achieve global climate goals. Many net zero pledges from companies and countries rely on offsetting to meet their commitments, yet concerningly hardly any offsetting strategies today are net zero aligned by failing to account for the needed balance between an actor’s residual emissions and removals.
What type of strategies are aligned with pathways to net zero? The Oxford Principles for Net Zero Aligned Carbon Offsetting (revised 2024) provide guidelines to help ensure offsetting strategies take us closer to rather than further away from a net zero society. Explore the Principles below.
Looking for tools to help you follow these steps?
1 — Cut emissions, use high quality offsets, and regularly revise offsetting strategy as best practice evolves
2 — Shift offsetting towards carbon removal
3 — Shift offsetting towards long-lived storage
4 — Support the development of net zero aligned offsetting
HOW TO COMMIT TO NET ZERO:
HOW TO GET NET ZERO RIGHT – THE 7 ATTRIBUTES
The concept of net-zero carbon emissions has emerged from physical climate science. However, it is operationalized through social, political and economic systems. We identify seven attributes of net zero, which are important to make it a successful framework for climate action, using our recent paper in Nature Climate Change.
The seven attributes highlight the urgency of emission reductions, which need to be front-loaded, and of coverage of all emission sources, including currently difficult ones. The attributes emphasize the need for social and environmental integrity. This means carbon dioxide removals should be used cautiously and the use of carbon offsets should be regulated effectively. Net zero must be aligned with broader sustainable development objectives, which implies an equitable net-zero transition, socio-ecological sustainability and the pursuit of broad economic opportunities.
Looking for tools to help you follow these steps?
The 7 attributes
News and Events
Oxford launches revised Offsetting Principles
As part of their net zero strategies, many companies, organisations, cities, regions and financial institutions are relying on voluntary carbon credits to offset their residual emissions. But evidence continues to cast doubt on the integrity of ... Read more
Job Opening at ONZ: Impact and Operations Officer
Oxford Net Zero is looking for a highly organised and motivated Impact and Operations Officer to join its team. You will be working alongside the Programme Manager, Cath Ibbotson, and the Head of Policy and Partnerships, Kaya Axelsson to ... Read more
Net Zero Regulation Stocktake Publishes Results
A new report published by Oxford Net Zero presents a comprehensive ‘stocktake’ of developments in net-zero regulation across the G20 in 2023. It focuses primarily on four regulatory domains: claims and financial products standards, disclosure, ... Read more
New ONZ report on rolling out renewables in the Global South
The scaling up of clean electricity, and using it to decarbonise other parts of the economy, is central to all decarbonisation pathways. In their latest report, “Rolling out renewables in the Global South”, Oxford Net Zero’s Sam Fankhauser ... Read more
Oxford Net Zero at COP28
The Oxford Net Zero community is mobilising its collective expertise to help drive ambition at COP28, being held in the UAE from 30 November – 12 December. Read more
ONZ is hiring: join us as a Research Assistant to remap the net zero voluntary initiatives landscape
Oxford Net Zero has an exciting opportunity for two Research Assistants to join the team from January 2024 to support our net zero standards re-mapping project. Joining ONZ's Engagement Team, the Research Assistants will work alongside Kaya ... Read more
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