---
title: Net Zero
date: 2024-03-27T13:21:12Z
modified: 2025-08-12T10:57:48Z
permalink: "https://chancerylaneproject.org/glossary/net-zero/"
type: glossary-term
status: publish
excerpt: ""
wpid: 1323
---

## Definition

**Net Zero** means a balance between \[a party’s\] sources and sinks of greenhouse gases by \[2050 OR _insert earlier date_\]. This is achieved by reducing [Greenhouse Gas (GHG) Emissions ](https://chancerylaneproject.org/glossary/greenhouse-gas-emissions/)and removing GHGs \[to meet \[the goals of the Paris Agreement OR [Paris Agreement Goals](https://chancerylaneproject.org/glossary/paris-agreement-goals/)\]\].

**Net Zero** means the time when \[the Project OR Company\] \[and its Affiliates\] has, according to an Independent Expert done all of the following:

(a) reduced and removed its [Scope 1, 2 and 3 Emissions](https://chancerylaneproject.org/glossary/scope-1-2-and-3-emissions/) to a level consistent with the goals of the Paris Agreement;

(b) fully [Offset](https://chancerylaneproject.org/glossary/offset-or-offsetting/) its [Residual Emissions](https://chancerylaneproject.org/glossary/residual-emissions/); \[and\]

(c) adhered to the UNFCCC requirements for a [Just Transition](https://chancerylaneproject.org/glossary/just-transition/)\[.\]\[; and

\[(d) publicly stated its intention to reach net zero emissions and set science-based targets aligned with this ambition.\]

**Net Zero** is a condition in which human-caused [Residual Emissions](https://chancerylaneproject.org/glossary/residual-emissions/) are balanced by human-led [removals](https://www.iso.org/obp/ui/en/#iso:std:iso:iwa:42:ed-1:v1:en:term:3.3.3) over a specified period and within specified boundaries.