For many people carbon offsets have emerged as the new economy and the answer to climate change. Carbon offsets are not the silver bullet but are one piece of a combined puzzle that needs to be put in place to abate serious climate change.

It is recognised that in the early adoption of moving away from a carbon intensive society to a low carbon intensive society the role that offsetting has will be greatest at first. As change filters through the dependence on offsetting as a percentage will diminish. In the meantime carbon offsets are innovative ways of diverting money into more environmentally responsible products and services.

As for carbon neutrality the offset is the last piece in the puzzle as it is the awareness that has been gained in the process of calculating and identifying emissions that offers the greatest potential for change. The intention is in time is to wean an organisation, or individual, off the need for expensive offset purchases and move them towards a low / zero emmissions output.

What is a Carbon Offset?

An offset is reffered to when an event or process diminishes or balances the effect of a contrary one. In relation to carbon offsets it is when an event, or process saves, abates, or sequesters an equivelant amount of Carbon Dioxide. As a unit of measure all offsets are measured in tonnes of Carbon Dioxide (CO2). This amount of carbon is then sold to an organisation or individual as a compensatory measure for the emissions that they are not able to prevent.

Accredited & Verified

Carbon offsets purchased need to be verifiable in their abatement of carbon and need to show that they are additional to business as usual activities. In Australia the AGO (Australian Greenhouse Office) verifies carbon projects under the Greenhouse Friendly certification code. Internationally there are a few standards namely the Gold Standard and the Gold Standard for Voluntary Emission Reductions. All carbon offsets supplied by Carbon Balance Consulting will be verified by an authorising agent and the type of offset project identified.

Types Of Carbon Offsets

There are many innovative projects that attract carbon credits and sell their carbon offsets on the marketplace. Whilst the measurement, or currency, of offsets is the same (tonnes of C02), the source of the carbon differs per project. Choosing the right carbon source for your project can also help to enhance your standing with your customers and marketplace.

Renewable Energy The amount of energy generated by cleaner technologies such as wind, solar, geothermal, biomass and tidal, displaces a similar amount that would otherwise have been generated by GHG polluting techniques. These projects are seen to be longer lasting and assist in investing in newer, more expensive power generation. Often credits generated from such projects come at a premium price due cost of implementing such technological advancements.

Energy Efficiency These project employ more efficient technologies or processes in the workplace or home and reduce the amount of energy used. Projects include fuel switching, light bulb replacement, technology transferring or building refurbishment. The amount of carbon saved by the project is then offered as an offset.

Bio-sequestration (forestry projects) Bio-sequestration is the process where carbon is stored in the natural bioata of living things such as tree's and soils. these projects actually take carbon out of the air via photo-synthesis and store it in their leaves and stems. The amount stored is calculated and offered as a carbon offset. These projects have a lot of additional benefits such as habitat creation, improving soil quality and aesthetics, but also generate concerns with regards to verification and security.

Avoided Deforestation Avoiding carbon losses by protecting vegetation from logging or degregated land clearing practices is a new emerging source of carbon. If it can be proved that the vegetation was in threat of emmitting carbon and this is overted, then the saved carbon can be valued as an offset. It has been estimated by WWF. that up to 20% of future global carbon emmissions are atributable to deforestation.

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