The time for high-quality carbon offsets and scalable climate solutions is now.

Marketplace project: Enhanced rock weathering. UNDO has launched the first enhanced rock weathering project in Canada, which will be removing an estimated 300 tonnes in 2030 from work delivered by farmers to date. These operations are helping farmers to improve soil pH and boost crop yield as minerals are released into the soil.  

What is the integrity council for the voluntary carbon market?

The Voluntary Carbon Market (VCM) has been under increased scrutiny for the past 18 months, but there’s positive movement. Organizations like the ICVCM are stepping up by creating frameworks like the Core Carbon Principles (CCP). These principles are boosting the quality of carbon credits and bringing transparency to the VCM. This makes it simpler for buyers to find and value trustworthy credits, regardless of who issued them, what project they support, or where they originate. Additionally, the SBTi’s recent announcement on recognizing high-quality carbon credits for reducing scope 3 emissions is a welcome development for those advocating for the VCM’s effectiveness. New regulations are anticipated to be unveiled in July.

How to choose a high-quality carbon offset program?

Before investing in a particular type of carbon offsetting project, a company should thoroughly investigate various aspects to ensure alignment with their sustainability goals and commitment to environmental stewardship. Key questions to consider include: 

What are the stated goals of the project and where is it located? Understanding the project’s objectives and location provides insight into its potential impact and relevance to the company’s sustainability agenda. 

Delving into the mechanisms for achieving these goals, including the specific details, baseline conditions, and scientific assumptions underlying projections, helps evaluate the project’s credibility and effectiveness. 

Ownership of the land involved and community engagement are crucial factors, as they influence project legitimacy and local support. Assessing whether the local community benefits financially and how certification was conducted and documented ensures transparency and accountability. 

Monitoring procedures, including who conducts them and their effectiveness, are essential for verifying emission reductions and maintaining project integrity.

Additionally, involvement of government entities, either at the national or local level, can provide regulatory support and enhance project legitimacy. 

Reviewing the Sustainable Development Goals (SDGs) addressed by the project. This ensures the impact goes beyond just absorption or avoidance of emissions, but also improves communities’ lives with jobs, green economy development, etc.

A key concept to be aware of in carbon offsetting is additionality. This ensures the emissions reductions you’re paying for are real and beyond “business as usual.” Simply put, the project wouldn’t exist financially without the income from carbon credit sales. This guarantees your investment directly drives new emissions reductions that wouldn’t have happened otherwise, maximizing the climate impact of your offset purchase.

Start your carbon offsetting journey with ClimateTrade

When conducting thorough research, companies can make informed decisions and prioritize investments in high-quality carbon offsets that align with their values and contribute meaningfully to global efforts in combating climate change. Recently, we launched a new initiative ‘Carbon Offsetting Strategy As a Service’ to support businesses in their journey to net-zero in a way that is transparent and impactful. We offer a structured offsetting strategy and share our expertise to guide businesses in project selection, regulations, and crafting effective offsetting plans. Climate change is an undeniable threat, and achieving net-zero emissions is crucial for mitigating its effects. Businesses have a significant role to play, and ClimateTrade is here to help whatever stage of sustainability you’re currently facing.

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