Carbon Offsetting Companies
Voluntary carbon markets are exhibiting compounded growth and the number of companies offsetting their carbon emissions is also rising. This surge is being led by a multiplicity of factors such as pressure from stakeholders and shareholders, achievement of corporate targets and enhancement of brand image amongst others; recent research also suggests that the prices of company stocks rise following disclosure of their emissions information. more..
Some of the major corporations like HSBC and Aviva have been offsetting their emissions and have been able to become carbon neutral. There is definite growth in the number of companies that are becoming carbon neutral. The projects being supported by them are helping poor communities in developing countries access energy and generate livelihoods. The majority of the offset projects are located in India and China. In such countries there are barriers to the development of voluntary offset generating projects, with the limited availability of finance not being the least of them.
Given the past trends and announcements being made by regulators and the industry, the future does look bright for voluntary carbon offsets, or as we say it, The Trend is Blue customers.
The companies listed below have been mentioned by way of example only and the Trend has not advised them on their Environmental Management Strategies.
In 2005, HSBC became the first FTSE 100 company to become carbon neutral. Since then, the bank has been able to maintain its carbon neutral status by managing energy more..
in buildings, providing alternatives to business travel, and sourcing renewable energy, wherever possible. HSBC purchases high quality Voluntary Emissions Reductions (VERs) on the international carbon market. In 2010, HSBC was responsible for 1,017,000 tonnes of CO2 emissions in total, including energy use and emissions from business travel. HSBC currently collects environmental data for 95 per cent of its operations. This figure has been scaled up to represent 100 per cent of the organisation and to account for uncertainty factors in the monitoring and reporting process.
In 2010, HSBC bought VERs from projects located in China and India: renewable wind projects, small scale hydro projects, an industrial energy efficiency project.
The carbon credits Barclays purchases are, at a minimum, certified to the Voluntary Carbon Standard. In 2010, it purchased 1,191,956 carbon credits from projects in Brazil, China, India, South Korea, Tanzania, Kenya and Thailand. more..
This purchase offsets global carbon emissions from energy use and travel in 2009 and some additional emissions for 2008, which were captured as part of Barclays improved data management and estimation methods.
As a non-energy-intensive business Aviva’s carbon footprint is relatively low. Over a number of years they have worked to reduce emissions from heating and lighting in their buildings, travel and other operational activities. more..
Aviva’s emissions amounted to 127,685 tonnes of CO2e in 2010. To compensate for the remaining emissions that cannot be avoided, since 2006 they have purchased more than 400,000 tonnes of carbon offsets from the voluntary carbon market, to one of two robust standards: the Gold Standard or Voluntary Carbon Standard. Aviva offset 105% of its emissions in this way again in 2010. This also enables Aviva to support leading carbon offset projects implemented through non-governmental organisations and other expert partners. Aviva sources the majority of these from projects in developing countries where Aviva has a market presence. The exception is Africa, where it purchases offsets because the African continent will suffer more from the effects of climate change, both in terms of speed and impact. In Kenya, for example, Aviva has been involved in an energy-efficient stove programme that is addressing unsustainable deforestation caused by charcoal production and inefficient use of wood, but which also has wider benefits for the community.
Vodafone McLaren Mercedes became the world’s first ever carbon-neutral Formula 1 team and achieved the coveted Carbon Trust Standard. By implementing a series of efficiency-driven measures within the McLaren Technology Centre, they were able to achieve annual savings of more than 1500 tonnes of CO2 emissions. more..
Vodafone McLaren Mercedes has implemented a number of state-of-the-art solutions and improved their carbon efficiency by 8.6 per cent as a result. But in order to officially become fully carbon-neutral, they needed to purchase carbon credits. In consultation with Carbon Neutral Investments, an independent carbon offsetting specialist, they investigated a number of potential carbon-offsetting schemes looking to select projects that would prove to be both ideologically relevant to their core business and ethically viable too.
The Co-operative Group has announced that in 2011 it was able to reduce its emissions by as much as 35% over the previous year. The company has announced that it will reduce GHG emissions by 50% by 2020. more..
It added that a total of £700 million has been made available to green energy projects. Since 2000, Co-op has offset more than 780,000 tonnes of carbon dioxide. Some of its projects include re-establishment of rainforest within Kibale Forest National Park in Uganda, provision of treadle pumps to local farmers in the West Bengal and Uttar Pradesh states of India and a project to replace the traditional Lao stove with a more efficient version.
BBDO Lanka Private Limited has become the first advertising agency in South Asia to obtain the "Carbon Neutral" Certificate. The agency, part of the BBDO Worldwide, more..
it adopted the dual measures of reducing the level of carbon emitted out of its operations and also buying carbon credits to offset the unavoidable carbon footprint generated by the firm.
As one of the world’s most innovative companies Google is seen as a leader both by its staff and by its external stakeholders. In recent years the company has made significant efforts to avoid and reduce its carbon emissions more..
through energy efficiency measures and the installation of renewable energy generators on its sites. Since 2007 Google has also sought to make itself carbon neutral by purchasing offsets from a range of projects. Projects have included landfill and agricultural methane capture both in the US and internationally. Google focused on methane capture because “methane's impact on warming is very well understood, it's easy to measure how much methane is captured and the capture wouldn't happen without our financing (for the projects we're investing in, they couldn't make enough money selling the gas).”
Intel began its public environmental reporting efforts in 1994 and since then has tended to be a leader in the area of environmental transparency and disclosure. It has made continuous step improvements in the energy efficiency more..
of its manufacturing process whilst also seeking to offset an increasing percentage of its carbon emissions through the purchase of renewable energy certificates (RECs) from US renewable projects. In February 2011, the company announced that it would purchase RECs to offset 85% of its US energy usage (Intel, 2011a). Intel’s 2010 Annual Report (Intel, 2011b) highlights the motivations for offsetting its carbon emissions. The company sees a significant risk that the cost of energy from traditional fossil fuel sources will increase as we enter a more carbon constrained economic climate. Intel believes that the solution to this will be found in the development and improvement of renewable energy technology. Intel’s programme of purchasing RECs “is intended to help stimulate the market for green power, leading to additional generating capacity and, ultimately, lower costs.”
As a clothing manufacturer and retailer, H&M is striving to become a leader in sustainability in the clothing sector. Their five in house brands have been named in the top 20 bands ranked against sustainability efforts by Dutch more..
organisation GoedeWaar (H&M, 2011b). For the year 2010 the company set itself ambitious new carbon reduction targets. When H&M missed these new targets the company offset the 67,000 tonne shortfall by purchasing carbon credits from projects certified against the UN’s Clean Development Mechanism (CDM) and the Gold Standard. The projects were two wind farms in China and an agricultural waste biomass fuel project in India (H&M, 2011b).
As one the world’s largest companies Johnson & Johnson has a significant carbon footprint. Since 2006 the company has made efforts to reduce that carbon footprint through internal emission reduction measures and by purchasing carbon offset credits.