Corporations Voluntary Offsetting Emissions Pre-Paris
In an in-depth article for Ecosystem Marketplace, Steve Zwick explores how large companies have already begun restructuring to reduce and offset emissions. Even though companies are not yet subject to mandatory emissions caps in most countries, many are acting regardless. From the article:
In 2007, as airlines around the world were lobbying to prevent the regulation of greenhouse-gas emissions from passenger flights, Delta Airlines started looking for ways to reduce its emissions – first by increasing fuel efficiency, and eventually by investing $1 million in a massive effort by The Nature Conservancy (TNC) to buy up old farms across the Lower Mississippi Valley and restore them to their natural, forested state so that trees can absorb enough carbon dioxide (CO2) to offset some of Delta’s greenhouse gasses. TNC scientists say the project will mop up more than 100 million tons of CO2 over the next 70 years, and Delta is helping to finance it by purchasing offsets to reduce its carbon footprint, but the exact amount of emissions reduced is being determined through a rigorous process certified under the Verified Carbon Standard.[p
As more companies will be subject to mandatory caps as the Paris Agreement takes effect, they can learn how to incorporate offsetting from these early adapters.
Read the full article here: Even Before The Paris Agreement Takes Effect, Hundreds Of Corporates Are Voluntarily Offsetting Emissions