As the pressure on organisations to decarbonise their operations and put a net zero strategy in place continues to grow, businesses are looking for ways to reduce their emissions. With so many different routes for achieving this, it can be easy to feel overwhelmed by the task at hand. Our experts can help you get started and understand how carbon offsetting could support your carbon reduction journey.
What is Carbon Offsetting?
Carbon offsetting is the reduction of greenhouse gas emissions through investment in environmental projects that reduce carbon dioxide emissions or remove carbon dioxide from the atmosphere, compensating for the emissions you produce.
Carbon Markets Explained
There are two types of carbon markets; the Compliance market and the Voluntary Offset market. The Compliance market includes regulated schemes for national, regional, or international carbon reduction regimes, ensuring organisations that reduce their emissions can track, trade and report on these emissions reductions in a clear and transparent way. This market is only open to certain organisations who meet entry requirements and/or choose to participate.
The majority of organisations who choose to offset will purchase carbon offsets through Voluntary Offset markets. This means that they are purchasing offset credits on a voluntary basis that are not required for compliance or regulatory purposes.
As more organisations offset their carbon, all Carbon Markets are seeing the cost of carbon increase. With the expectation that carbon costs will increase significantly over the next few years, some organisations might choose to put a strategy in place to purchase carbon credits sooner rather than later.
If you are just beginning your net zero journey, investing in carbon offsetting is a great way to allow your organisation to become Carbon Neutral as you work towards your net zero goals. By focusing on neutralising the carbon emissions your business releases, you can make those first vital steps in your carbon reduction journey.
Carbon Insetting is when organisations offset their carbon emissions inside their own supply chain to help them become net zero throughout their entire operations, including their value chain.
Organisations reporting on their Scope emissions, may want to invest in carbon insetting to help their supply chain to decarbonise. Through insetting, organisations are directly imbedding their sustainability strategy within their own business. As part of reporting on their Scope 3 emissions, organisations must be able to report on the emissions of their supply chain, therefore by supporting these businesses in reducing their emissions, organisations can help their own overall net zero goal.
For example, this could be by working with a materials supplier to reduce the emissions used in the production of the products your organisation buys by paying more for them.
By investing and encouraging their supply chain to reduce their carbon emissions through different types of projects, organisations can start a chain reaction within their industry and across those who supply to them, making a greater impact on the environment.
Carbon offsetting has had some bad press, and sometimes in the past been labelled a form of greenwashing. There has been concerns that offsetting projects, such as tree planting, have been used by organisations as a promotional tool to be seen to be environmentally conscious, instead of actively working to reduce their emissions.
However, carbon offsetting can be a proactive way to kick start a net zero strategy. By offsetting their carbon emissions, an organisation can become carbon neutral whilst they continue to work toward their net zero targets.
Carbon offsetting alone is not the answer to remove all carbon emissions from an organisation’s operations. However, by investing in projects that can support you on your carbon reduction journey, carbon offset schemes can be greatly beneficial to your business and the environment supporting the fight against climate change and helping your organisation stand out as putting sustainability first.
As part of our Net Zero and Carbon Reduction consultancy services, we will advise you on the best ways to reduce carbon emissions within your supply chain. By insetting the carbon emissions of your value chain, you will be able to reduce your Scope 3 emissions (indirect emissions).
Through our Net Zero and Carbon Reduction consultancy services, our experts will help you to set achievable net zero targets and support you in meeting these goals through different projects, including investing in carbon insetting.
Our carbon offset services go hand in hand with our Net Zero and Carbon Reduction consultancy service, as part of creating a cohesive and achievable net zero strategy for your organisation. If you are still in the early stages of your strategy, investing in carbon offsetting can support your organisation in becoming carbon neutral and taking responsibility for any residual emissions, whilst you continue to become a net zero organisation.
Alternatively, we can assess and recommend offset projects outside of delivering a full net zero strategy, that can help your business achieve carbon neutral status.
Our independent carbon reduction consultants can help you to understand the best solution for your organisation. Our team will discuss your options with you and recommend the best carbon projects and carbon offset companies in line with your organisational requirements. We understand there is no one-sized-fits-all approach when finding the best way to become a net zero organisation, which is why every service is tailored to your organisation.
You can rest assured your carbon offset projects will be verified to the highest standards, including with the Verified Carbon Standard (VCS), Gold Standard Voluntary Emission Reductions (VER), UK and EU Emissions Trading Standard (EU + UK ETS), and the United Nations Certified Emission Reductions (CER) programmes.
At TEAM, we understand just how complex carbon reduction can be for organisations, but our expert energy and net zero consultants will be there every step of the way, helping you to reach your sustainability goals and make a positive mark on the world around you.
The four steps to becoming a carbon neutral business
Benefits for your organisation
- Better understand your organisation’s carbon emissions
- Fulfil your environmental and corporate social responsibility
- Meet legislative compliance requirements for your industry and organisation
- Differentiate your organisation from competitors by demonstrating best practice in carbon reduction and energy efficiency
- Build your organisation into a leader of sustainability, and become a more attractive investment to customers, stakeholders, and future employee talent
- Increased company-wide understanding, knowledge, and support for your carbon reduction journey
- Fulfil your customers’ requirements in proving your sustainability credentials
- Elevate your organisation’s reputation through your contribution to achieving net zero, positive environmental change and investment in future generations
- Meet institutional investment requirements
- Meet investor conditions for green finance loans
- Contribute to reducing environmental pollution, supporting the UK Government’s Net Zero 2050 target
- To support or comply with your organisation’s tender bids requirements
- Demonstrating that you are taking full responsibility for your residual emissions
Not sure where to start?
Speak to a consultant on 01908 041543 to find out how we can help you through carbon offsetting