N E W S & V I E W S • A P R I L 2 0 2 4 11 Planning for the future NCT will continue to research practical ways of reducing their carbon footprint. A strong focus on carbon sequestration projects will be considered in time to come. Sequestered carbon can be sold on the carbon market through the trading of carbon credits to offset carbon emissions. This can be monetised whilst also providing a strong and positive social impact. Carbon taxes are also becoming more important. Businesses and individuals are encouraged to invest in low-carbon alternatives and innovate towards carbon-neutral practices. Example, for every kilometre travelled, we offset the carbon emissions from our deliveries by funding innovative projects or by using sequestered carbon from our farms. The Carbon Tax MRV Tool for forest plantations and the Timber Processing Industry will also be rolled out in time to come for reporting on carbon emissions. In conclusion, reducing NCT’s carbon footprint requires a multi-faceted approach tailored to its specific operational context. By embracing the Activity-based Based Approach, leveraging PBS vehicles, prioritising greener transportation modes, and strategically located depots, NCT can make significant strides toward sustainability while maintaining operational excellence. Embracing these strategies not only benefits the environment but also strengthens NCT’s position as a responsible corporate citizen in a rapidly evolving world. Variations in the relative cost-effectivenss of decarbonisation measures A Invest in pipeline network B Modal shift to rail/land waterways C Expand swap arrangements D Use of alternative fuels E More efficient vehicle routing F Enhanced vehicle aerodynamics G Improved vehicle utilisation H Driver training in fuel-efficient driving Euro per tonne of CO2 saved Summary of the carbon savings for NCT over the last three-year financial period Similarly, from the information shown below it is clear that NCT aligns with global standards in terms of its decarbonisation efforts: Source: Measuring and Managing CO2 Emissions of European Chemical Transport. Logistics Research Centre, Heriot-Watt University. Edinburgh, UK
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