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Climate Action 2007-2008

Purchasing carbon

Purchasing carbon offsets A HOW-TO GUIDE MARKET MECHANISMS 118 Purchasing carbon offsets can set an internal price for carbon, allowing a company to assess the cost of other emissions-reducing initiatives. It can also help companies gain a greater understanding of carbon markets and support existing corporate responsibility policies. But offsetting has also been seen as an easy ‘get-out’ from tougher internal choices with some media casting doubts over the extent to which offsets represent real and additional emissions reductions. This simple 10 step guide is designed to help companies avoid the pitfalls and use carbon offsetting as a useful part of overall greenhouse gas (GHG) reduction strategy. STEP 1: UNDERSTAND WHAT OFFSETS ARE VISIT: WWW.CLIMATEACTIONPROGRAMME.ORG

STEP 2: DECIDE HOW MANY OFFSETS NEEDED The GHG Protocol and ISO 14064 provide globally recognised standards for measuring and reporting the carbon footprint of an organisation. STEP 3: DEVELOP A TAILORED OFFSET STRATEGY Questions to consider during the process OFFSETTING CASE STUDIES Sky HSBC MARKET MECHANISMS 119 VISIT: WWW.CLIMATEACTIONPROGRAMME.ORG