During the recent Northeast Heating Oil Industry Summit, dedicated leaders, representing thousands of home energy providers, pledged to reduce our greenhouse gas emissions to net-zero by 2050, and are not waiting for legislation asking us to do so. The home energy industry is responding to demands to lower greenhouse gases by scientists and home-grown activists. We are facing a crisis and every one of us needs to embrace the solution.
This resolution calls for a 15% reduction of CO2 emissions by 2023; a 40% reduction by 2030; and a net-zero carbon emissions by 2050. Our Home Heating Industry wants to be a key player in the climate change discussions happening in government and local communities.
Like many others in the industry, AFC is already delivering Ultra Low Sulfur Heating Oil, which cuts sulfur dioxide emissions by 75 percent and nitrous oxide emissions by 10 percent compared to previous heating oil. We also provide more energy-efficient equipment options which can help reduce usage and save on energy costs.
The Home Heating Industry has many small and medium-sized companies, just like AFC. They started out selling dry goods or ice like AFC did. Next, they provided coal and eventually moved to heating oil. These companies, like AFC, are family-owned, joined in the business by their children and grandchildren. They expanded to bring in drivers, technicians, and office staff. Like AFC, the average Home Heating Company is multi-generational owned and operated. We have evolved along with our industry.
AFC is continuing to do our part to make this resolution possible and to make the earth a better place for future generations.