Carbon offsetting is the process which states that a person or an organization can reduce their greenhouse gas emission by offsetting it elsewhere. It gives the organization or a person called “carbon offset credit”.
In becoming a carbon-neutral organization, a company needs to have carbon offset credits equal to the organization's carbon footprint.
Carbon offsetting is a viable option for industries still dependent on fossil fuels. Still, they can reduce their carbon footprint by planting trees or investing in carbon capture technology to reduce carbon dioxide in the air.
We will look at the ways that companies can take to reduce the impact of climate change.
- Forestry
A company can plant trees and increase the forest land cover through afforestation. It will help restore the ecological balance and bring many species from the endangered list. The best part is that trees can absorb and keep carbon from the air under the ground. It will make our atmosphere less polluted.
- Agriculture
Modern industrialized agriculture also greatly contributes to pollution, but this was not the case even a few decades ago. With the advent of globalization and mass production, modern farming generates a lot of waste.
But the age-old means of agriculture can be reversed through organic farming, and it can help to solve the carbon emission problem with offsetting.
- Renewable energy
Companies can directly offset their emission once they shift towards renewable energy sources and invest in them.
A company can have more offset credits and progress towards being a carbon-neutral organization. Clean energy sources, like, wind, solar or hydro, can help the company to become more sustainable and improve its ESG score.
- Waste Management
The common practice of piling waste in landfills or flowing toxic chemicals into the river needs to go away. To adhere to the carbon offsetting process, a company must reverse its waste management plans and design a more sustainable method to churn out waste.
A company can turn its waste into biofuel and then use it for energy, which will help the company reduce its emission. A company can thus offset its emission through this methodology also.
- Carbon Sequestration
Carbon sequestration is the process of building infrastructure to capture and store carbon. It is the process where carbon capture technology will be in place in the company's manufacturing units, and it will help to capture those emitted carbons from the air.
Organizations can hire a carbon coach who can guide them to efficiently offset their carbon emission. Therefore, A company must also try to reduce their footprint by lowering its emission and offsetting it through other means.
Hence, it can be stated that organizations operating in the major economic zones worldwide can incur carbon taxes from multiple government authorities without following the guidelines that adhere to climate change.
Finally, offsetting is how companies can start becoming sustainable and greener organizations.
