Offset gives cash boost
- Natural resources ,
- Transport ,
- Carbon Trading ,
- Mitigation ,
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.
Demand for fossil fuels will peak by 2025 if all national net-zero pledges are implemented in full and on time, the International Energy Agency (IEA) has forecast.
The Green Homes Grant is set to deliver only a fraction of the jobs and improvements intended, leading to calls for more involvement from local authorities in future schemes.
COVID-19 recovery packages have largely focused on protecting, rather than transforming, existing industries, and have been a “lost opportunity” for speeding up the global energy transition.
Half of the world's 40 largest listed oil and gas companies will have to slash their production by at least 50% by the 2030s to align with the goals of the Paris Agreement, new analysis has found.
None of England’s water and sewerage companies achieved all environmental expectations for the period 2015 to 2020, the Environment Agency has revealed. These targets included the reduction of total pollution incidents by at least one-third compared with 2012, and for incident self-reporting to be at least 75%.
The UK’s pipeline for renewable energy projects could mitigate 90% of job losses caused by COVID-19 and help deliver the government’s ‘levelling up’ agenda. That is according to a recent report from consultancy EY-Parthenon, which outlines how the UK’s £108bn “visible pipeline” of investible renewable energy projects could create 625,000 jobs.
Billions of people worldwide have been unable to access safe drinking water and sanitation in their homes during the COVID-19 pandemic, according to a progress report from the World Health Organisation focusing on the UN’s sixth Sustainable Development Goal (SDG 6) – to “ensure availability and sustainable management of water and sanitation for all by 2030”.