About Offsets

• What is carbon offsetting?
• How does offsetting work?
• How will the offset be achieved?
• What about risk and offsets?

What is carbon offsetting?

Offsetting is balancing out carbon dioxide emissions by avoidance of an equal amount somewhere else. You buy offsets for the same quantity of emissions as those released by the activity for which you wish to compensate. Absolute carbon neutrality is almost impossible to guarantee as there are inaccuracies inherent in the calculations.

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How does offsetting work?

Greenhouse gases are emitted when fossil-fuelled energy is consumed. One tonne of carbon dioxide has the same impact on climate change wherever in the world it is emitted or saved. You can use less energy for example by traveling less or by using less fossil fuel energy for heating, cooking etc but some emissions are hard to avoid. You then neutralize the impact of these unavoidable emissions by paying for emissions offsets. The offsets you buy are retired and taken out of circulation.

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How will the offset be achieved?

Reduce My Footprint aims to avoid, reduce or absorb greenhouse gases through appropriate investment in projects such as:

• Renewable energy - cutting out fossil fuels
  
• Energy efficiency - using less energy
  
• Forest restoration and conservation - absorbing and storing CO2

There is a particular emphasis on identifying and supporting projects realting to the tourism industry.

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What about risk and offsets?

The process for verifying and registering emission reductions under government schemes linked to the EU Emissions Trading Scheme (EU ETS) and the Kyoto protocol is extremely demanding. This is a thorough process, but it cant remove all risk.

• Many projects in developing countries cant afford exhaustive certification and are verified independently as VERs (Verified Emission Reductions). These kinds of projects often bring substantial social and economic benefits that are difficult to quantify, but are in addition to any carbon reductions.
  
  
• Some projects are financed ahead of delivery of reductions in carbon emissions and as such carry a bigger risk of non-delivery. We review projects thoroughly before offering them to our customers.
  
  

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