Some use them to compensate for polluting activities that they hope eventually to make clean. Some buy credits in order to promote specific products as “carbon neutral”. Any new guidelines will be voluntary, though, as the sector is unregulated.Ĭompanies can want offsets for different reasons. Also, despite the growing interest in offsets - which are generated by projects such as tree planting schemes - the credits have regularly come under attack from activists and researchers who say they do not always deliver the environmental benefits they promise.Įfforts are now under way to reform the system, with some industry groups working to thrash out what “good” offsets should look like, and others focusing on how companies should be using them.

US carrier Delta Air Lines, for example, spent $137mn to buy and use 27mn credits last year.īut who buys offsets, how companies use them, and the extent to which they are being relied on for the achievement of net zero goals is inconsistent. There are additional offset suppliers not listed here.“The vast majority of firms use carbon credits to improve their climate reputation,” says Guy Turner, founder of Trove Research.Ĭarbon credits - each of which is supposed to represent a tonne of emissions avoided or removed from the atmosphere - have soared in popularity over the past two years, as concerns about climate change have gone mainstream. Below is a list of offset suppliers that can be used as a starting point.

These intermediaries may be retailers (that purchase and resell offsets) or brokers (that facilitate transactions but do not own offsets). There are also a number of offset providers that serve as intermediaries and can supply campuses with offsets from multiple projects depending on campus needs. Some project owners and developers sell offsets directly to the end buyer campuses can reach out to contacts listed on project documents to inquire about this. There are many types of companies and organizations that sell carbon offsets. Many carbon offset developers list the project co-benefits in terms of how they contribute to the UN Sustainable Development Goals. Co-benefits are often the deciding factor in carbon offset purchases. Examples of co-benefits include jobs created, health benefits, pollution mitigation (other than carbon), supporting gender equality, renewable energy generation, biodiversity, and education. Co-benefits may be social, economic, or environmental.

The GHG Management Institute and Stockholm Environment Institute offer a comprehensive Carbon Offset Guide.Ĭo-benefits are positive outcomes from a carbon offset project, beyond the actual greenhouse gas emissions reductions.

Duke University’s Carbon Offsets Initiative provides general guidance on offsets, including a Request for Proposals guide.Ecosystem Marketplace publishes yearly reports on the voluntary carbon market.The average offset prices are between roughly $3-$6 per ton. Ecosystem Marketplace publishes yearly reports on the voluntary carbon market, which track information such as average offset prices and total global transactions. Campuses may obtain a lower price per offset for larger volume purchases. The price depends on the type of carbon offset project, the carbon standard under which it was developed, the location of the offset, the co-benefits associated with the project, and the vintage year.

Carbon credits