The Road to Net-Zero: Why You Should Be Preparing Now
ABS GROUP Quality Evaluations
There is not one single action that will lead us to carbon neutrality; however, there is a single source that (unlike conventional Environmental, Social, and Governance (ESG) plans) can provide quantitative services that support organizational growth and environmental goals.
Carbon Capture, Utilization, and Storage (CCUS) and Alternative Fuels (AF) are critical emissions reduction strategies that can be applied across the energy system to drive net-zero momentum. At ABS Group, we combine CCUS and AF with the technical capabilities of Artificial Intelligence (AI), quantitative risk and reliability, and engineering design and inspection to uncover risk scenarios that can guide you in developing key decarbonization strategy plans.
Through our in-depth expertise, we offer holistic assessments of operations, strategic direction on meaningful strategy adjustments, verification and certification techniques, and tailored risk and sustainability strategy plans toward carbon neutrality and carbon net-zero. In addition to regulatory guidance, we can help your organization to control operational costs and monetize CCUS and AF via our data-driven capabilities, ultimately promoting [AC1] a commercially sustainable solution that can bolster your growth and innovation rather than constrain it.
Accelerate Your Sustainability Journey
According to the Paris Agreement, Greenhouse Gas (GHG) emissions should be reduced by 45% by 2030 and reach net zero by 2050. CCUS and AF have been widely recognized as the most effective tools to help cut GHG emissions and help avert the worst impacts of climate change. Replacing polluting fossil fuels with energy from cleaner alternative fuels can dramatically reduce GHG emissions. When considering technological and infrastructure readiness, CCUS is more than ready to be applied throughout the whole fossil fuel and alternative fuel value chain.
- Optimize facility engineering, construction, and operations
- Improve the integrity, reliability, and safety of engineered systems to reduce technical and financial risk
- Audit, troubleshoot, and benchmark to internal or international standards
A Data-Driven Engineering Solution
Implementing an AI-driven decarbonization plan can enable sustainable investors to hold essential enterprise information toward decarbonization pathways. Through machine learning-assisted risk and reliability services, energy decision makers can utilize a full set of AF risk rankings, CCUS process weak points identification, and CCUS and AF operation Quantitative Risk Assessments (QRA) and consequence modeling.
With the unique AI algorithms, we provide quantitative evaluations for safety, sustainability, and the cost of CCUS and AF projects. Our unique approach allows us to better predict the environmental, safety, and economic impacts by benchmarking our proposed CCUS and AF solutions against your decarbonization goals and regulatory compliance level.
Net Zero by 2050: Developing A Framework Tailored to Your Business Goals
As net-zero targets approach the demand for high-quality data will rise, correlating with the lack of tolerance for ESG-related misconduct. Industry financial institutions are now implementing reporting requirements with quarterly and annual disclosures.
Backed by asset-level technical expertise, we will work with you to develop a unique, comprehensive framework to help you reach carbon neutrality. Our framework is designed to provide operational process improvement solutions and will drive Enterprise Asset Management (EAM) and digitization of process. Our framework is measurable, allowing you to accurately collect and report your data throughout your sustainability journey.
The Benefits of Sustainability Reporting
- 82% of Investors believe companies should be required by law to issue sustainability reports
- Higher ESG scores translate to 10% lower cost of capital as risks that affect your business are reduced
- Global sustainable investment now tops $30 trillion—up 68% since 2014 and tenfold since 2004
Source: McKinsey&Company, 2020
Why work with ABS Group to Accomplish Your Decarbonization Goals?
While the business case for decarbonization is clear, we understand the path to reaching carbon net zero is not standardized, making it difficult for companies to quickly implement an effective CCUS and AF strategy. Our team of experienced Operational Risk and Sustainability experts have established a tailored framework and unique AI algorithms to uncover quantitative evaluations for safety and sustainability allowing you to better predict and understand the environmental, safety, and economic impacts to your operations.