Carbon offset investments have emerged as one of the most popular ways to lessen a company’s carbon footprint.
Here’s what you should know about choosing the right carbon offset investment opportunity for your company!
What Are Carbon Offsets?
Carbon offsets are reductions in emissions of carbon dioxide and other greenhouse gases made in order to compensate for emissions made elsewhere.
A company can choose to voluntarily invest in carbon offsets to mitigate the environmental impact of its operations. Offsets are typically achieved by providing financial support to projects that reduce greenhouse gas emissions, such as wind farms or dairy manure digesters.
There are multiple types of carbon offset investments you can make. However, keep in mind that any and all carbon offsets must be validated and verified by qualified and accredited third party organizations.
Should Your Business Invest In Carbon Offsets?
The right carbon offset program can do more than mitigate greenhouse gas emissions.
Carbon offset investments can create immense social impact and by providing new jobs and strengthen communities relying on unsustainable practices.
See a few examples:
Since there are a variety of carbon offset projects available, it is possible to find a project that perfectly matches your company’s goals.
However, with so many carbon offset options available, it can be difficult to identify the right opportunity.
How To Choose The Right Carbon Offset Investment
Finding a carbon offset project that ticks all the boxes can be a difficult job.
We have put together six criteria to consider before committing to a carbon offset investment.
1. The exchange is quantifiable
To ensure that a particular project meets your company’s needs, you need to calculate your carbon footprint and set specific, quantifiable carbon offset goals.
2. The project is additional to business as usual
A carbon offset program only has value if it has been proved that the project would not have been possible without the opportunity for carbon investments. This is known as the rule of additionality.
3. There is no carbon leakage
If the carbon offset project’s emissions reductions somehow results in more greenhouse gas emissions elsewhere (e.g. due to displacement of a local business), the carbon reduction is nullified due to what’s known as “leakage” of carbon emissions.
4. The offsets are permanent
A good carbon offset program is based on the understanding that your company’s investment will lead to the permanence and perpetuity of the project’s impact.
5. There is third-party oversight
To protect your investment, make sure that a third-party has verified your chosen project, and that there is an oversight system in place for monitoring and enforcing the project’s specifications.
6. The project matches your company’s goals and values
Carbon offset investments have the potential to strengthen your company’s supply chain, achieve corporate social responsibility targets, and improve your brand’s image in the eyes of your customer base.
To make the most out of your investment, it is important to choose projects that are directly related to your company’s sustainability goals and brand values.
How NativeEnergy Can Help
NativeEnergy’s Help BuildTM initiative connects you with a unique project that fits the goals and values of your business and helps you turn your sustainability vision into reality.
Contact us here to learn more and get started!