Emissions Reduction

Achieving Climate Goals with Emissions Reduction

Shareholders, financial institutions, governments and intergovernmental commissions are exerting pressure on industry to progress towards a target of achieving net-zero carbon emissions by 2050. Many major emitters—including industrial producers—have pledged to make more progress and be more transparent regarding their efforts and results in emissions management. For many companies, this shift will require a significant change in how they operate. Many are turning to advancements in software for sustainability, decarbonization solutions and real-time visualization of emission data across the entire organization.

Emissions Management: The Time is Now

To meet the Paris Agreement goals, the world needs to reduce greenhouse gases (GHG) by unprecedented volumes and at unparalleled speed, which is achievable only through a large-scale, rapid and systemic industrial digital transformation. To hold global warming to 1.5°C, emissions must fall by 45% from those forecast under current policies by 2030; even to reach the 2°C target, a 30% cut is needed.

Industry leaders have committed to achieving net zero carbon emissions. For many this will require a shift in operations—moving away from yearly emissions reporting to becoming more transparent and proactive. Digital tools are central to maximizing the efficacy of ongoing and planned changes. Ensuring a green future and reducing emissions while continuing to provide reliable energy supplies is a dual challenge that will require new digital solutions, including advanced industrial technology.

Technology Solutions for Sustainability Targets

Industrial digitalization tools have focused on sustainability-related objectives for decades, mainly targeting energy efficiency, pollution control and value chain optimization. Traditionally, cost savings drove much of the efficiency efforts, but now companies are moving toward more specific metrics such as effective carbon capture and storage, the integration of renewable or recycled feedstocks and the reduction of emissions to reflect the environmental impact of operations.

AspenTech energy transition software helps position industries to be optimizing operations for both carbon footprint and margin concurrently, repurposing planning tools to increase accuracy of models in tracking carbon through the asset—and the CO2 intensity of feed options and of product—by unlocking a suite of next-generation tools for planning, scheduling and operations. AI-powered hybrid model digital twin technology can accurately model assets and production units for corrosion and other operating health issues, catalyst lifetime, carbon conversion and emissions and energy optimization. Digital twin software identifies energy use bad actors, benchmarks optimal performance and accurately calculates CO2 emissions.

Advanced process control (Aspen DMC3™) and dynamic optimization can be applied to process units to minimize energy use and carbon emissions. Utilities companies can also employ asset optimization software together with microgrid management software to optimize use of renewable, lowest cost and lowest carbon intensity power, steam and water utility sources.

Emissions Management Software to Accelerate Sustainability Initiatives

Emissions management solutions from AspenTech consolidate customer data and leverage operational technology (OT) applications in the plant, the connected enterprise and the entire value chain into a single, dynamic visual interface. As a result, customers can make decisions with the benefit of a “single pane of glass” view for carbon emissions, margin and abatement. In addition, the real-time nature of the solution eliminates the wait to review time-sensitive data. Benefits include consistent use of the same data by all teams and all organizational levels, easy to audit calculations and an incremental 5-20% carbon reduction through operations.

OPTIMIZE 24 (April 29-May 3 in Houston, TX)

Emissions reduction is one of the many topics of OPTIMIZE 24, the premier global event for AspenTech customers, including users, operational leaders and executives who are looking to elevate their business performance, improve their resiliency and meet their sustainability targets. OPTIMIZE provides unique opportunities for attendees to share best practices and learn about the latest innovative solutions to help them achieve new levels of operational excellence and address their company’s sustainability goals. Register today to join attendees from around the globe and across the full spectrum of asset-intensive industries.

FAQs

Why has emissions reduction become a priority for industries?

The primary reason emissions reduction is a priority is to reduce the impact of climate change caused by greenhouse gases. In addition to the environmental benefits, reducing carbon emissions can also provide rewards to industries, including reputational value, lower operating costs, tax savings, regulatory compliance, higher valuations, increased revenues and attraction and retention of talent. There are several ways that industries can reduce their carbon emissions, such as shifting to renewable energy sources, improving energy efficiency, adopting carbon capture and storage (CCS) technology and other digital solutions.

How can technology solutions help with emissions reduction?

Ensuring a green future and reducing emissions while continuing to provide the resources needed by the world is a dual challenge that will require new digital solutions, including advanced technology. Industrial solutions such as advanced process control (Aspen DMC3™), digital twin technology and other asset optimization software for sustainability can help identify energy use bad actors, benchmark optimal performance and accurately calculate and minimize carbon emissions.