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The utility sustainability teams can develop a strategic roadmap for achieving targets by taking a metrics-driven, portfolio-based approach to reducing GHGs.
FREMONT, CA: There is a significant opportunity and challenge associated with decarbonization for utilities. Many initiatives are involved, ranging from operational changes to customer engagement and influence. Electrification of transportation and the shift to renewable energy present cost reductions and growth opportunities. However, decarbonizing utilities is challenging, especially given the regulatory and societal pressures that make carbon reduction imperative in a short period of time.
In order to reduce carbon emissions both internally and externally, utilities must take part in a variety of decarbonization initiatives. Different utilities have different ecosystems of GHG emissions, air quality drivers, and emission reduction strategies. A portfolio-based approach is best to achieve emissions reduction goals because decarbonization involves so many departments and initiatives. This approach to decarbonization requires a functional approach to segmenting the vast array of decarbonization opportunities is considered. Analyzing a wide range of carbon reduction initiatives, and utilizing metrics to rank portfolio methods and initiatives based on their feasibility, achievable reduction quantities, and the lowest cost to achieve them.
Decarbonization segmentation and assessment
The utility sustainability teams can develop a strategic roadmap for achieving targets by taking a metrics-driven, portfolio-based approach to reducing GHGs. Utility companies will have better access to comparative data and more information to make better decisions by segmenting decarbonization efforts into practical categories and assessing them on common metrics. As a result, GHG emissions can be reduced over time more effectively. Successful decarbonization requires a combination of decarbonization measures and an effective implementation strategy. Ultimately, the ideal strategy will result in low risk and low or recoverable costs and the highest reduction in overall emissions. In order to develop a holistic portfolio strategy, each option must be understood and compared. Understanding how certain initiatives interact with one another is a critical part of this process.
