Carbon & The Environment
In 2010, we began a Carbon Reduction Initiative that included a company wide carbon assessment to better understand our environmental impact. After completing our carbon assessment we partnered with The Carbon Neutral Company to help reduce and offset our Green House Gas (GHG) emissions. We are proud of our announcement on April 22nd, Earth Day, to have reduced our carbon emissions (918 tCO2e) in our corporate office to net zero to become a certified CarbonNeutral office. The environmental savings is equivalent to not using 93,678 gallons of gasoline or 4.3 railcars of coal.
What is climate change?
Climate change is the long-term change in average weather conditions, including temperature, precipitation and wind.
According to the United Nations Intergovernmental Panel on Climate Change (IPCC), which is comprised of the world’s leading scientific experts in the field of climate change, the global climate is undergoing dramatic changes as the direct result of greenhouse gas emissions from human activity. Climate change is already apparent as evidenced by higher temperatures, rising sea levels, increased ocean acidity and ice melt. Global surface temperatures, alone, have increased by roughly 0.74 °C (1.33 °F) between the start and the end of the 20th century. According to the IPCC these trends are set to continue to accelerate into the 21st century and will be accompanied by new changes such as increases in extreme weather events like hurricanes. In fact, according to the IPCC’s latest findings, global average temperatures will probably rise a further 1.1 to 6.4 ºC (2.0 to 11.5 ºF) this century, depending on the extent of continued greenhouse gas emissions.
Can we stop climate change?
Carbon dioxide (CO2) is the most significant GHG. It is produced as a by-product of almost everything we do. Because we are all responsible for producing CO2, we are able to cut CO2 and slow climate change.
Around the world, people and businesses are taking voluntary steps to cut emissions. At the same time, governments have set and agreed binding GHG reduction targets at state, national and international levels.
Latest scientific opinion is that global GHG reductions of 80% are necessary within the next 50 years. This is a very significant challenge, especially in the context of growing emissions from developing countries.
Does carbon offset provide a solution to global warming?
On its own, carbon offset does not provide an answer to global warming but it does have a large part to play in the overall approach to carbon management. ‘Internal’ reductions take time to kick in (the change of the profile of a car fleet, for example), and even targets of 20% reductions are stretching to growing businesses. Carbon offsetting brings the possibility of 100% reductions – achieved in the immediate term. At the same time, the emission reduction projects supported by the money paid for offsetting, help communities globally to get on to a low carbon path.
What is the value of offsetting carbon emissions?
Growth in the world’s population and increasing consumption (especially in China and India) is expected to lead to a three-fold rise in energy demand during the next century, which is thought will lead to a 2 – 4 degree centigrade increase in average global temperature. Scientific consensus is that we need to reduce emissions by 80% in the next 50 years to stabilise our climate and prevent unprecedented negative impacts on the economy and our climate.
Against that backdrop, any and every means to tackle climate change has to be embraced. That includes providing individuals and companies with the tools to measure their CO2 emissions, to put in place programmes which will reduce them at source, and to offer options for carbon offset to neutralise unavoidable emissions i.e. for every one tonne of CO2 produced by you, you can pay for one tonne to be reduced someone else in the world through monitored and verified emission reduction projects.
What kinds of carbon offset projects are available?
Projects include:
• Renewable energy: including solar, hydro and wind as well as biomass and re-use of products like biogas.
• Resource Conservation: including energy efficiency, methane recovery and low carbon fuel switches.
• Waste reduction: including methane flaring to reduce the climate change impact of the emissions.
• Forestry: well-managed, long-term forestry which make a real contribution to local communities and biodiversity.
How is offsetting financially beneficial?
With the rising interest from staff, legislators and customers, businesses are being held responsible for their carbon footprints, which make this a critical factor when pertaining to competitive tenders and consumer buying trends. It therefore makes good business sense to contribute to offsetting. Organisations which have adopted a strong environmental position have experienced decreased operation costs and increased revenue from winning new accounts.
Is offsetting guilt money?
Carbon offset forms part of an educational process and commercial strategy because it helps to put a price on carbon liability – sending companies a clear signal of the potential cost of their CO2 emissions when regulation tightens (‘internalising the externalities of greenhouse gas emissions’ in economist speak). That, in turn, incentivises them to find ways to reduce emissions at source, offsetting what is genuinely unavoidable. For example, as part of its carbon strategy, a Company might choose to upgrade its air conditioning system as part of an office refurbishment because (a) it is able to do so in the short term and (b) it makes financial sense. The validity of the economics of that decision-making is, of course, part of the Stern Report.
Is it a real emission reduction?
Yes. Example: Business A1 is unable to reduce 100 tonnes of its CO2 emissions in the short term. There is a project somewhere else in the world which could save 100 tonnes easily, but they need a cash injection. For example, in India they could swap from carbon intensive kerosene as an energy source, to solar panels – but they can’t afford the solar panels. Through the purchase of carbon offset, you provide the financial assistance to subsidise the cost of getting solar panels on housing, and through that means you have enabled a saving of 100 tonnes of CO2. Business A1 has therefore reduced global net CO2 emissions by 100 tonnes. The added benefit is that Business A1 has helped a step change local technology in a developing market.
