Carbon Offsetting
A carbon credit is a token representing the avoidance or removal of greenhouse gas emissions, measured in tCO2e (tonnes of carbon dioxide equivalent). Organisations can purchase carbon credits to offset their own emissions. Voluntary purchase of carbon credits should only be used to offset emissions which cannot yet be halted.
Voluntary carbon markets are markets where carbon credits are purchased, for voluntary use rather than to comply with legally binding emissions reduction obligations.
There are 3 main types of carbon credit:
- Reduction: These credits represent actions that decrease greenhouse gas emissions compared to prior practices. An example includes reducing methane emissions from waste processing.
- Removal: Projects that extract carbon dioxide from the atmosphere and sequester it for extended periods. This can be achieved through nature-based solutions like reforestation.
- Avoidance: Actions that prevent potential carbon-emitting activities from occurring. For example, renewable energy projects to replace fossil fuel-based energy sources.
On current projections, the Council will not achieve its target of being carbon neutral by 2030 but will continue to proactively reduce emissions rather than rely on carbon credits bought to offset remaining emissions.
The Climate Task Group have pledged to review the UK carbon credit market every year after the completion the annual greenhouse gas report.