Global warming places life on earth in danger, posing a threat to fresh water, food, and energy supplies. Greenhouse gas (GHG) emissions are the primary cause of global warming. Carbon dioxide (CO2), methane (CH4), and nitrogen oxides (NOx) are GHGs produced by the combustion of oil, fossil fuels, and other sources.
The energy supply sector is one of the largest contributors to global greenhouse gas emissions, responsible for approximately 35% of total emissions. The Covid-19 pandemic impacted the energy demand in 2020, reducing global CO2 emissions by 5.2%. However, the rapid economic recovery in 2021 increased the energy demand. The biggest increase in CO2 emissions by sector in 2021 took place in electricity and heat production, where they jumped by more than 900 MtCO2eq, which accounted for 46% of the global increase in emissions.
Chubu Electric Power Co Inc (Chubu) is an energy utility. It generates and procures electricity and offers electric network related services. The company produces electricity using the hydro, thermal, nuclear and renewable sources. In 2020, the company reported total GHG emissions of around 53.01 million tonnes CO2 equivalents (MtCO2eq), down 14% from 2019.
Scope 1, 2, and 3 emissions are the three categories of GHG emissions. Scope 1 emissions result from the direct operations of the company. Indirect GHG emissions during the production of purchased electricity, are referred to as Scope 2. Scope 3 emissions refer to the company's other indirect emissions beyond the company’s direct operations and occur in the company’s value chain, including upstream and downstream activities, such as use of sold product, and employee travel.
Scope 3 emissions account for most of Chubu’s overall GHG emissions, accounting for 99.5% of total GHG emissions (52.73 MtCO2eq) in 2020. In 2020, the company's Scope 1 emissions (0.11 MtCO2eq) rose by 83%, whereas Scope 2 emissions (0.17 MtCO2eq) fell by 11%.
Chubu targets to attain net zero CO2 emissions from their entire business by 2050. The company has also set a goal of developing 2000 MW or more of renewable energy in around 2030.
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