Offsetting Carbon vs Insetting Carbon
Posted by Firstplanit on 25th November 2022 -
Almost all companies are looking to reduce carbon emissions. Still, the majority cannot reach carbon neutrality or attain the coveted ‘Net Zero Carbon’ status because they don’t want to or can’t change practices quickly. So, they offset their carbon emissions by investing in projects that remove carbon from the atmosphere, including renewable energy, restoring biodiversity, and agroforestry elsewhere, often in other continents. But could insetting carbon become a better bridge until businesses and organisations truly get their act together? We looked deeper into carbon insetting and how it differs from carbon offsetting.
Carbon offsetting requires a business to fund projects outside of its operational control. Credits are purchased to fund projects that help remove carbon from the atmosphere. When the number of carbon credits obtained equals an organisation’s carbon footprint, they become carbon neutral. Offsetting provides convenience and economic efficiency; it is simple, quick and does some good somewhere, therefore appealing to most businesses.
Carbon insetting is a concept that has recently gained significant traction; organisations offset carbon emissions by investing in projects within their value chain. ’Pur projet’, a pioneer in insetting, describes the process as evaluating, reducing and offsetting a company’s climate and environmental footprint by developing impactful socio-environmental projects within its value chain and using them to build a sustainable society.
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