CARBON OFFSETTING

What is carbon offsetting?

Scientific consensus states that carbon emissions must be reduced by 80% by 2050 to avoid catastrophic climate change.  Businesses have an important role to play in meeting these targets and carbon offsetting enables them to play their part in the climate change battle. A carbon offset credit (carbon credit) is bought to make a reduction in greenhouse gas emissions at another location. This might include renewable energy that lowers our reliance on energy from fossil fuels.

What exactly is a carbon offset?

Carbon offsets are calculated and sold by the metric tonne of carbon dioxideA naturally occurring gas and one of the most abundant greenhouse gases in the atmosphere. Carbon dioxide is also a by-product of industrial processes, burning fossil fuels and land use changes. equivalent. What this means is that a purchase of one tonne of carbon offsets means there is one less tonne of carbon dioxideA naturally occurring gas and one of the most abundant greenhouse gases in the atmosphere. Carbon dioxide is also a by-product of industrial processes, burning fossil fuels and land use changes.. Carbon offsetting is a fast way for businesses to reduce their environmental impact and become carbon neutralAchieving net zero carbon emissions.. Furthermore, offsetting carbon can create great benefits at the project location, including new employment, community development programmes and much more.

Are carbon offsets credible?

Credible carbon offsets meet a range of criteria, including the proof that without the finance a reduction in emissions would not have occurred. Furthermore, there should be proof that the credit cannot be double-counted, and it should deliver the reductions stated and not cause increased emissions somewhere else (known as permanence and leakage).