How Can Carbon Removal Help Companies Become Carbon Neutral?

 

There is no denying that companies play a significant part in emitting carbon dioxide and other greenhouse gases into the atmosphere and depleting the planet's resources. However, several major corporations such as Microsoft, Swiss RE and SEB are have now started using carbon removal to reliably compensate for their unavoidable emissions and meet their targets of becoming net-zero.

Long gone are the days when carbon neutrality was easily achieved by buying traditional emission reduction offsets where one company pays someone else to reduce or avoid their emissions. Nowadays, companies strive to become carbon neutral by reducing their own direct emissions and those of their suppliers, through better product design, improved logistics and renewable energy to mention a few. But there are always some emissions that remain, and it is these that corporations such as Microsoft are turning to carbon removal certificates to solve. 



An overview of CO2 removal certificates, or CORCs

You might not know this, but some companies can receive CO2 removal certificates if their products or processes absorb and store more co2 than they emit.  Such certificates are digital tradable carbon assets that confirm that one ton of CO2 has been absorbed and stored in a carbon net-negative product. These certificates are issued only for the extra carbon after a third party verifies that the product is a carbon net-negative. They can be sold to companies looking to credibly offset their emissions.

Characteristics of CORCs

●    Long-term storage of CO2 guaranteed.

●    Science-based carbon net-negative offset.

●    Certificates are issued retrospectively after production.

●    From an industrial process that can scale.


Why is there a need for companies to become carbon neutral?

Investing in sustainable business solutions and becoming a carbon neutral company has a plethora of benefits.  Besides the obvious (for some) question of taking corporate responsibility for the climate, it creates positive publicity, goodwill, lower financing costs and improves employee engagement.  Companies can also consider bundling CORC's with their products and services to make them carbon neutral. By doing so, they can stand out from the crowd and differentiate themselves from their competitors. This can help enhance sales with premium carbon neutral options.



Summing it up

Many responsible companies are doing their part by purchasing carbon offsets from for example, forest restoration projects that restore natural carbon sinks, and don’t get me wrong these have many advantages including preservation of biodiversity and social impact projects, however avoiding emissions by not cutting down a forest, or by using hydro power instead of coal is not the same as removing from the atmosphere the co2 that is already there and is endangering our future. In truth, we now need to do both to try and maintain a healthy future for our planet.

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