Carbon offsets: Buyer beware
Q. What is carbon offsetting?
A. Carbon offsetting compensates for greenhouse gas emissions with an equivalent carbon dioxide reduction. Anything we do that consumes energy in turn produces these emissions. Driving a vehicle or heating or cooling a home are only the most obvious examples.
Q. How do I offset ?
A. First you figure out your “carbon footprint” using one of the many calculators available online. Then you can take steps to reduce your footprint or buy ‘carbon offset’ credits from environmental projects.
Q. What are the options for credits?
A. Carbon credits try to create a market for reducing greenhouse emissions by giving a monetary value to the cost of polluting the air. Politicians tout carbon emissions trading schemes as the best means of tackling climate change, arguing that by putting a price on carbon emissions firms have a financial incentive to reduce their carbon footprint. Many companies sell carbon credits to commercial and individual customers.
Q. How do I know credits aren’t a scam?
A. Ask for evidence. Reputable credit programs will have an audit trail or similar documentation that they’ll share, though they sometimes charge a fee to provide it. Any credit program should be fully traceable. But results are sometimes hard to prove.
Q. So do credits really make a difference?
A. Lack of verification makes it difficult for buyers to assess the true value of carbon credits. Critics say cheap credits cleanse the conscience but not the environment, as it is easier to buy credits and keep polluting than to invest in cleaner technology or change your lifestyle.
The only sure way to make a difference is to reduce your CO2 emissions directly by being cleaner and greener in your own household and travel habits.
Sources: Green Business News, Financial Times, CarbonFootprint.com
