A "carbon offset" is an emission reduction credit from another organisation's project that results in less carbon dioxide or other greenhouse gases in the atmosphere than would otherwise occur. Carbon offsets are typically measured in tonnes of CO2 equivalents (or 'COe') and are bought and sold through a number of international brokers, online retailers, and trading platforms. Buyers will need to choose their offsets carefully as the voluntary offset market is largely unregulated though best practice standards do exist, for example the Voluntary Carbon Standard and the Gold Standard carbon credits.
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The International Carbon Reduction and Offset Alliance also promote best practice among providers and provide a comprehensive policy for ensuring that Offset Providers effectively reduce greenhouse gas emissions as well as source carbon credits that have a meaningful environmental impact.
Often the type of offsets purchased is a personal decision that depends on the type of energy you would like to support. Options include carbon credits derived from:
- Renewable energy ie wind power, solar power, wave technology, geo thermal projects. These projects help make renewable energy a viable alternative to burning coal;
- Avoided deforestation, where carbon already sequestered in forests remains there.
Tree planting can be a problem as it does not offset your co2 emission quickly or even permanently. Customers are faced with a degree of uncertainty regarding the quality of the offsets, however, the following sources are an excellent starting point:
