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The “Why Not” Mindset
Published in Alden M. Hathaway, Tripp Hathaway, Energy Independence: The Individual Pursuit of Energy Freedom, 2022
Alden M. Hathaway, Tripp Hathaway
These credits and offsets don’t exist just to make us feel good. They actually do something, whether reducing carbon, increasing renewable deployment, or both. Carbon Offsets, negating our scope 1 emissions, are measured and verified reductions of carbon dioxide resulting from a project that was created with at least one main purpose for reducing carbon emissions to the atmosphere. Carbon offsets must be projects that occur outside of usual business activities and be verified by a third party and registered in a carbon registry or tracking system. Carbon offsets are considered the gold standard for carbon accounting, for they can be used to offset any scope 1, 2, or 3 carbon impact as long as you can boil that impact down to tonnes of carbon dioxide. Since the basic unit of a carbon emission is the metric tonne, the unit of a carbon offset is one metric tonne. Typical prices are seven to twenty-five dollars per tonne. The purchase of offsets helps finance these projects that actually reduce carbon in the atmosphere.
Air cargo and the environment
Published in Peter S. Morrell, Thomas Klein, Moving Boxes by Air, 2018
Peter S. Morrell, Thomas Klein
A carbon offset is a reduction in emissions of carbon dioxide or greenhouse gases made in order to compensate for or to offset an emission made elsewhere (in this case from aviation). Offsets are typically achieved through financial support of projects that reduce the emission of greenhouse gases in the short- or long-term. The most common project type is renewable energy, such as wind farms, biomass energy, or hydroelectric dams. Some of the most popular carbon offset projects from a corporate perspective are energy efficiency and wind turbine projects. How this will work in detail has not been explained in the ICAO Resolution or supporting reports. If airlines can purchase offsets in the market in the same way as with the EU ETS the cost may not be large, given current market conditions (see Figure 13.3 for recent trends in the carbon price).
Environmental Biotechnology
Published in Firdos Alam Khan, Biotechnology Fundamentals, 2020
A carbon footprint is “the total set of GHG emissions caused directly and indirectly by an individual, organization, event, or product” (U.K. Carbon Trust 2008). The carbon footprint of an individual, a nation, or an organization is measured by undertaking a GHG emissions assessment. Once the size of the carbon footprint is known, a strategy can be devised to reduce it. Carbon offsets, or the mitigation of carbon emissions through the development of alternative projects such as solar or wind energy or reforestation, represent one way of managing a carbon footprint. The term and concept of the carbon footprint originate from the ecological footprint discussion. The carbon footprint is a subset of the ecological footprint.
Linking climate change mitigation and adaptation through coastal green–gray infrastructure: a perspective
Published in Coastal Engineering Journal, 2021
Tomohiro Kuwae, Stephen Crooks
So that the effectiveness and importance of blue carbon and green infrastructure can be widely perceived and understood by the various coastal stakeholders, ideally, the full range of the provided benefits would be monetized. One example of a monetization mechanism is carbon offset crediting. The use of carbon offsets as an incentive for climate change mitigation is well established for forest and agricultural ecosystems, and several voluntary carbon markets have certified blue carbon offset methodologies and implementation protocols (Kelleway et al. 2020; Sapkota and White 2020; Kuwae et al. 2021). When considering the cost-effectiveness of green infrastructure, it is preferable to first quantify all of the green infrastructure functions, considering tradeoffs among them, and then to monetize them according to the results they produce (Figure 5), rather than to base the monetization of benefits on willingness to pay as determined by questionnaire surveys. Function-based monetization is more likely to satisfy coastal stakeholders and assist in securing public financing or in attracting private funds from private companies and investors because the multifunctionality is directly evaluated and supported by numerical evidence (Vanderklift et al. 2019).
Operational and environmental decisions for a two-stage supply chain under vendor managed consignment inventory partnership
Published in International Journal of Production Research, 2019
Moncer Hariga, Salbi Babekian, Zied Bahroun
Carbon emission regulation policies are either price dependent based on taxes or quantity dependent based on cap and trade systems. Under the carbon tax programme, the company pays a tax proportional to the amount of carbon emitted. According to Martin et al. (2014), carbon tax policy has shown to have a strong effect on reducing energy consumption. As per their study conducted in the UK, carbon tax has helped achieve 18% reduction in energy intensity and 22% reduction in electricity consumption. Carbon Cap policy is a quantity-based policy concerned with the amount of carbon emitted by an organisation. The organisation adhering to this policy is eligible to a specific level of carbon emissions over the entire planning horizon. This level is usually set by external agencies or can be adopted by an organisation as an internal maximum emission level. Cap-and-Trade policy adds the possibility to ‘sell’ all unused carbon credits or bank their allowances. On the hand, companies are penalised by buying more allowances in case they exceed their carbon emission limits. Huisingh et al. (2015) stated that the most used policies for carbon emission control are the Carbon Cap and Trade and the Carbon Cap with same efficiency in emission reduction (Xu, Xu, and He 2016). Under the cap-and-offset policy, the company can purchase carbon credits above its carbon cap through carbon offset projects. However, the company cannot sell unused carbon credits.
Surrogate optimization of energy retrofits in domestic building stocks using household carbon valuations
Published in Journal of Building Performance Simulation, 2023
James Hey, Peer-Olaf Siebers, Paul Nathanail, Ender Ozcan, Darren Robinson
When it comes to contributions in practice, a 2017 industry report on voluntary carbon offset markets shows an average carbon price of $3/, although this varied significantly depending on the type of mitigation project and the project location (Ecosystem Marketplace 2017). The annual quantity of carbon offsetting is also highly volatile, suggesting an immature market. It is worth noting that real-world carbon offset prices are significantly lower than reported WTP from consumer studies, possibly indicating a gap between reported and actual decisions. Although this could also be explained by the high variance in offset prices, indicating consumer willingness to mitigate is much higher than found in industrial settings.