Carbon offsetting - a market that should contribute to climate justice

June 18, 2019

Sometimes I hear that people don't "believe" in carbon offsetting or don't like the word carbon offsetting. I have even heard several people who think we should invent a new word.

Let me try to explain why we can't just make up a new word or why "not believing in carbon offsetting" is an argument.

Voluntary carbon offsetting trading started in the mid-1990s and took off in the late 2000s. It has helped reduce, sequester or avoid over 437.1 MtCO2e-equivalent. This is equivalent to burning 1 billion barrels of oil. Offsets are purchased by companies, individuals and governments and in 2018, a record number of offset credits were canceled, equivalent to 42.8 MtCO2e. Canceling means, for example, that I go into ZeroMission's account in an international registry and remove the carbon offset that you may have bought from me. This means that the tons you bought from me are removed from the market and cannot be sold again.

Carbon offsetting is therefore a market that sells a product in the form of tons of carbon dioxide and that sells a lot of money.

From the very beginning, ZeroMission has worked with a carbon offset standard called Plan Vivo. There are several projects around the world that have certified themselves against Plan Vivo. There is always a local partner, an NGO that develops the projects. We think this is good because it gives us better insight into the national and regional conditions.

Creating and selling 1 ton of carbon offsets requires a rigorous process to ensure that real and quantifiable emission reductions have been achieved. I could write a whole blog post on this, as it involves a lot of calculations, administration, documentation, validations and verifications...but I won't do that now.

ZeroMission has been working with carbon offsetting since 2006. ZeroMission's vision is to create planetary benefits, and to help companies create better business. I have worked at ZeroMission for almost 9 years. My driving force is, among other things, to create climate justice. I am very proud to have enabled pastoralist communities on the Mongolian steppes and indigenous peoples in Mexico, directly descended from the Maya, to have an opportunity for diversified income and thus increase their chances of maintaining their social, cultural and political institutions.

 

 

 

 

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