CEL Overview: Carbon Offset Growth Continues

November 22, 2006

Email this story Print this post Add your comments

There are about 40 operations worldwide that offer carbon offsets, but it’s difficult for a company to understand exactly where the money is going, the Seattle Post-Intelligencer reports.

Here’s how they work: Companies and consumers look at how much carbon they put into the environment and pay to subsidize renewable energy projects, or pay for tree planting or other eco-friendly activities to offset the environmental effects. Since 2006, the global carbon trading market has more than doubled to $22 billion.

Corporations of all types are getting involved for a number of reasons – least of which is the marketing and PR potential – here are just a few recent announcements:

Expedia.com announced that consumers could “fly green” at $6 for a short flight to $30 for international travel through a program with TerraPass.

Last week, Four retailers, BetterWorld.com, Evogear.com, 3r Living, and Alonovo.com, announced they were using a new program from Carbonfree.org and Carnegie Mellon University’s Green Design Institute that offsets shipping-related carbon-dioxide emissions.

The Home Depot announced it would offset all carbon emissions created this year by the company’s Atlanta headquarters and a portion of emissions created by employees commuting to work and traveling on business.

Whole Foods Market signed up with Renewable Choice Energy to sell a Wind Power Card, available at approximately 80 Whole Foods Market locations.

Companies that sell to consumers pass the “donations” to another firm – like Carbonfree.org. This company can be either for- or non-profit and can charge between $4 and $30 to offset 1 metric ton of carbon.

But there’s little official oversight. The Center for Resource Solutions is developing a certification program for carbon reductions similar to its Green-e program that is used to verify renewable energy certificates.

Many carbon-offset groups also buy and retire carbon dioxide emissions reductions (The Seattle Post goes into more detail on this) from the Chicago Climate Exchange. If regulations are put in place, the retired credits will prevent companies from buying allowances. Companies can trade carbon offsets and allowances similar to stocks in the stock market.

Email this story Print this post Add your comments

Advertisers

Enhance Sustainability. Improve Profitability.

Learn how at the SAP Sustainability Resource Center. >>

Unclear about the EPA's new GHG Rule?

Learn how it could affect your business. >>

EPA mandatory emissions reporting starts Jan 1st

CSA Standards can help your organization get ready for compliance. Find out how. >>

Product Environmental Compliance Best Practices

How to achieve compliance at a significantly lower cost. Download the full report. >>

Join the Discussion

Recent Daily News [ see all ]

11/20/2009
11/19/2009
11/18/2009

Charts [ see all ]

European Paper Industry Cuts CO2 Emissions by 42% since 1990

S. America Takes Most Urgent View of Copenhagen Talks

Nike Tops Annual Climate Action Scores

Oceans May Trap more Carbon than Forests

Jobs

View All Jobs >> Post a Job >>

Comments and Discussions

Trade Association on Trade Group on EPA Chemical Regs: ‘If Everything is a Priority, Then Nothing is a Priority’
"Seriously… that..."

Gary Markowitz on Supermarkets Tackle Emissions Reductions, Fuel Efficiency
"Supermarkets waste over 10 percent of their energy through improper..."

peter in ireland on Ontario May Follow California’s Lead on TV Energy Efficiency
"Governor Schwarzenegger is shooting himself in the foot! 1...."

Environmental Leader on S. America Takes Most Urgent View of Copenhagen Talks
"The survey respondents (the PDF report mentions 4,000 respondents in 38..."

Jake on UPS Trying New Hydraulic Hybrid Trucks
"A point of clarification: the Reuters press release referenced herein reports that 20 UPS will purchase..."

Custom Organic Shirts on S. America Takes Most Urgent View of Copenhagen Talks
"90% of North Americans believe it is urgent to get a global climate..."

peter dublin on California City’s Green Building Ordinance Applies to Commercial Buildings
"Why energy efficiebnt regulation on buildings –..."

Environmental Leader