Developing a robust carbon offset strategy

Developing a robust carbon offset strategy

Carbon offsets are a popular tool to indirectly reduce emissions. However, before investing in offsets, you should focus on addressing direct and indirect emissions in your business and along your supply chain. Investing in low carbon and energy efficient equipment and processes can be more cost-effective than buying many offsets year on year. Installing solar panels or revising operating procedures can result in improved operational efficiencies. Reducing your own emissions first also means that you need to purchase less offsets. What’s more, the money for buying offsets can come from achieved cost savings. Once you have exhausted all cost-effective measures to reduce your carbon footprint, it is time to consider your offsetting strategy. Here are 4 tips to get you started.

GreenPower Part 2: An inconvenient truth – The risks of using GreenPower

GreenPower Part 2: An inconvenient truth – The risks of using GreenPower

KEY POINTS

  • More organisations are committing to limit global warming to no more than 1.5°C in line with latest scientific evidence.

  • The use of GreenPower and/or voluntary LGCs break the causal link between organisational activities and related greenhouse gas emissions.

  • Definitions matter for carbon reduction to be meaningful.

  • Absolute emission reduction strategies and renewable power purchase agreements are a preferable alternative to GreenPower purchases.