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Last edited 12 Oct 2021
Carbon offsetting is ‘…the process of compensating for the remaining carbon emissions balance by contributing, usually financially, towards solutions to reduce emissions elsewhere. Typically, this is put in practice by establishing carbon offset funds which then invest in renewable energy and other carbon reduction measures.’ Ref Climate Emergency Design Guide: How new buildings can meet UK climate change targets, published by the London Energy Transformation Initiative (LETI) in January 2020.
Zero carbon building, Performance standard, Version 2, Published by the Canada Green Building Council in March 2021, defines carbon offset as: ‘A credit for reductions in greenhouse gas emissions that occur somewhere else and that can be purchased to compensate for the emissions of a company or project. High quality carbon offsets include third party verification of emissions reductions as well as additionality, longevity, and leakage criteria.’
Keeping 1.5°C Alive: Closing the Gap in the 2020s, version 1.0, published by the Energy Transitions Commission in September 2021, defines Carbon offsets as: ‘Reductions in emissions of carbon dioxide (CO2) or greenhouse gases made by a company, sector, or economy to compensate for emissions made elsewhere in the economy.’
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