| Get Credit for Carbon Reduction |
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| James McCallum | |||
| Tuesday, 10 June 2008 | |||
  Columnist: James McCallumMD of Carbon Ethics  Carbon offsetting is currently a voluntary process by which the public and private sector can pay for their lifestyle and or corporate activity. While there is much controversy around the process, it remains in my opinion the most effective and immediate way that you and I can come to terms with our roles and responsibilities in respect to saving our fragile planet. What is a Carbon Offset? A “carbon offset” is an emission reduction credit from another organisation’s project that results in less carbon dioxide or other greenhouse gases in the atmosphere than would otherwise occur. Carbon offsets are typically measured in tons of CO2, and are bought and sold through a number of international brokers, online retailers and trading platforms. Many types of activities can generate carbon offsets. Renewable energy such as the wind farm example above, or installations of solar, small hydro, geothermal, and biomass energy can all create carbon offsets by displacing fossil fuels. Other types of offsets available for sale on the market include those resulting from energy efficiency projects, methane capture from landfills or livestock, destruction of potent greenhouse gases such as halocarbons, and carbon sequestration projects (through reforestation, or agriculture) that absorb carbon dioxide from the atmosphere. Why Some Carbon Offsets Are Better Than Others As with any purchase, buyers need to choose their offsets carefully, particularly as the offset market is largely unregulated. For example, although quite popular, offsets from tree-planting projects are problematic for a number of reasons, including their lack of permanence and the fact that these projects do not address our dependence on fossil fuels. Similarly, offset projects involving the destruction of halocarbon gases such as HFC-23 have sustained numerous criticisms, including the fact that they actually result in a perverse incentive for more of the ozone-depleting gas to be created, due to the sheer volume of offsets – and profits – that they generate. The price of offsets from these projects is also so low due to the very high global warming potential of the gas that they tend to flood the market and squeeze out more sustainable offset projects, like solar and wind. Another important issue to consider when purchasing offsets is 'additionality'. An offset project is considered additional if it isn't business as usual. Typically this means that the project wouldn't have happened without the extra funding from the sale of offsets. Additionality is extremely important, as the entire concept of offsetting – that is purchasing greenhouse gas reduction credits from a project elsewhere to neutralise one's own emissions – is based on the premise that those reductions wouldn't have happened otherwise. Only by buying offsets that have met additionality criteria can you be assured that your purchase is resulting in a net benefit for the climate. Standards for Carbon Offsets Because it can be difficult for offset buyers to get clear answers on the validity of the offset, a good way to ensure that your offset purchase is making a positive contribution to the climate is to purchase offsets that meet recognised standards. Just as consumers can feel confident when purchasing food products that meet strict third-party standards for organic agriculture, standards for carbon offsets provide assurance that certain criteria are met when the offset is developed and sold. A number of standards exist for carbon offsets, including the VCS, Green-e, and The Gold Standard. More standards are being announced regularly. Each of these standards differs in key ways, with some being more rigorous than others. The Gold Standard for Carbon Offsets The Gold Standard is widely considered to be the highest standard in the world for carbon offsets. It ensures that key environmental criteria have been met by offset projects that carry its label. Significantly, only offsets from energy efficiency and renewable energy projects qualify for the Gold Standard, as these projects encourage a shift away from fossil fuel use and carry inherently low environmental risks. Tree planting projects are explicitly excluded by The Gold Standard. First, Gold Standard projects must meet very high additionality criteria to ensure that they contribute to the adoption of additional sustainable energy projects, rather than simply funding existing projects. The Gold Standard also includes social and environmental indicators to ensure the offset project contributes to sustainable development goals in the country where the project is based. Finally, all Gold Standard projects have been independently verified by a third party to ensure integrity. Currently, The Gold Standard is restricted to offset projects in countries that don't have emission reduction targets under the Kyoto Protocol, which are primarily developing countries. Supporting offset projects that meet The Gold Standard therefore helps these countries 'leapfrog' US technologically so they don't go down the same fossil fuel path as developed countries - which would be disastrous for the climate. The Gold Standard is supported by over fifty non-governmental organisations worldwide, including WWF International, and Greenpeace International.
Disclaimer: Harmonious Living is written for and read by a community of individuals with strong and independent opinions. While the publishers of Harmonious Living are dedicated to providing a forum in which views can be openly expressed, those views do not necessarily reflect those of the publishers.
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