Since the beginning of the Industrial Revolution, human activities have produced a 45% increase in the atmospheric concentration of carbon dioxide (CO2) and other Greenhouse Gasses (GHG).

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The majority of anthropogenic carbon dioxide emissions come from combustion of fossil fuels, principally coal, oil, and natural gas, and large power stations and manufacturing plants are increasingly required to report their emissions to government entities.

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The Paris Agreement in 2015 was a commitment by 195 of the world’s countries to limit global warming to less than two degrees Celsius, and countries are using various mechanisms to reduce GHG emissions in accordance with their commitments.

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Government driven initiatives

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A carbon price is a cost applied to GHG emissions, to encourage polluters to reduce the amount of greenhouse gases they emit into the atmosphere: it usually takes the form of a carbon tax or a requirement to purchase permits to emit, generally known as carbon emissions trading, but also called "allowances".

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Business and market driven initiatives

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The benefits for companies of reducing their emissions goes beyond those relating to cost. Cleaner production is increasingly associated with risk management, business transformation, innovation, operating efficiency, reputation and long-term value creation for investors.

Market forces, such as procurement requirements for GHG reporting, or voluntary initiatives, such as the Science Based Target initiative are providing bottom-up ‘business-case’ drivers for change.