Every tonne of carbon offset can deliver up to $664 in economic, social and environmental benefits outside carbon reduction, according to research by the International Carbon Reduction and Offset Alliance (ICROA) and Imperial College London.
The survey asked 72 businesses that buy carbon offsets about their motivations and barriers.
It found that, although co-benefits of carbon offsetting were a major consideration for companies deciding what type of project to support, 82% of companies buying offsets wanted more quantification of these.
This would help communication with customers and employees and improve the business case for offsetting, they said.
The study quantified the co-benefits of 59 carbon offset projects. It found that they contributed around $3 per tonne (pt) in benefits to the local economy during development and while operational; $52 pt in fuel savings; and around $609 pt from conserving natural ecosystems.
Two-thirds of companies who buy carbon offsets revealed their main motivation to be reputation and brand image.
