Overview

Unfortunately, government efforts currently appear unlikely to prevent greenhouse gas concentrations from reaching dangerous levels. This is a challenge that requires not just regulation, but also the effective use of human self-interest and human altruism (or enlightened self-interest). The latter is a powerful force — increasingly, individuals and companies are voluntarily offsetting their emissions to become "carbon neutral", even though they are under no legal obligation to do so.

 

Voluntary offsets can be divided into four categories. First, an increasing number of ethical and environmentally-conscious individuals are buying carbon offsets directly from retailers, to offset their emissions and to become "carbon neutral". For instance, the Climate Bridge staff offsets their personal emissions each year, as do government departments (e.g. UK Defra) and numerous public and political figures such as Al Gore and David Attenborough.

Second, individuals are also buying offsets bundled in "low-carbon" products and services. These include but are not limited to carbon neutral flights (eg. those offered by SAS and Lufthansa), low-carbon petrol (e.g. BP Target Neutral), and carbon neutral insurance (e.g. ClimateSure).

Third, environmentally-conscious businesses are also directly offsetting their emissions. This may be motivated by ethical considerations, as a way to improve public relations, retain and acquire customers increase staff morale, and as a point of differentiation from competitors. HSBC has committed itself to purchasing close to 1 million tCO2 of offsets per year to eliminate its "carbon footprint"; other leading corporations have begun to follow suit. Again, the corporate activities of Climate Bridge are fully offset each year.

Fourth, events – from small conferences to major events such as the World Cup and the Olympic Games – are increasingly run in a carbon-neutral fashion by offsetting their direct and indirect emissions.

All the businesses in these four market segments have a shared interest in sourcing genuine and robust emission reductions, often along with sustainable development benefits, at low prices. Climate Bridge is committed to developing the industry and to helping those companies purchase offsets to ensure that they are sourcing "the real thing", and that their money is directed to achieving real emissions reductions. Climate Bridge is also committed to providing transparency to its customers. The quality of emissions reductions is important. Climate Bridge works to ensure that superior emissions reductions, with sustainable development benefits, receive a higher price.

Geographies

Voluntary emission reduction projects can be conducted in any part of the world that is not already covered by an emissions reduction cap, or trading scheme. The point of voluntary reductions is that they go beyond government action. For instance, now that Australia has ratified the Kyoto Protocol, emission reductions made in Australia will count towards Australia’s compliance with its target.  As such, unless the Australian Government retires a Kyoto Allowance (called an AAU), Australian emission reductions will not be "additional" to the Government's target.