By: Katie Koenig
In my last post, I mentioned doing research on other universities’ carbon offset strategies for Emerson to create its own. What I didn’t explain was the background for why so many universities have turned to offsetting their emissions in the first place.
Starting in the ‘90s, the voluntary carbon market (VCM) began when private companies started projects that either sequestered greenhouse gasses from the atmosphere or greatly reduced (or stopped) the production of such gasses during normal activities. Companies invested in those projects to assist in the reduction of greenhouse gas (GHG) emissions either produced or present in the atmosphere, and were issued carbon credits in return, since all emissions reductions are measured in CO2 equivalents. Those credits could then be used to offset the companies’ own emissions.
I explained it in the last post, but to briefly recap the rationale behind offsetting, GHG emissions have a global impact on the climate and rising temperatures, no matter where they originate. The idea behind the VCM is that, by funding projects that reduce emissions in one area, that can be used to offset emissions generated in a different geographical area.
Some people have expressed concerns about the actual effects of carbon offset projects. It’s a cloudy subject, since you can’t see the physical changes of reducing emissions, except on a massive—global—scale. Scams and offset fraud can be resolved by purchasing and researching offsets through trusted, certificating organizations. The American Carbon Registry, established in 1996 as the first carbon market registry, is a great example of this. It certifies offset projects based on a set of stringent, quantifiable requirements to prove efficacy of emissions reductions. The Verified Carbon Standard is another major example, currently certifying and selling the most projects and carbon offsets, respectively.
Available for free online, Climate Market’s The Voluntary Carbon Market Explained thoroughly explains the whole of it, although it is rather complicated since it’s so comprehensive. The first chapter goes more into the details of the VCM, though, if you’re interested in a more detailed explanation.
A secondary, relevant topic to carbon credits are renewable energy credits (RECs). To contrast them with carbon credits, RECs are measured in megawatt-hours (mWh) of electricity, focusing on any activity that produces electricity for the power grid from renewable sources rather than nonrenewable. However, these credits can only offset Scope 2 emissions as defined by Second Nature since it’s limited to electricity emissions.
Meanwhile, carbon credits are measured in metric tonnes of CO2 equivalent (MtCO2e) that are a result of projects that reduce greenhouse gas emissions beyond the scope of normal activities. Additional tests are required for this, where they aren’t required for RECs, to ensure that there are actual, quantifiable reductions in MtCO2e. Also, carbon credits can thus offset all three scopes of emissions.
When it comes to universities declaring themselves carbon neutral, every one of them is currently purchasing carbon credits or renewable energy credits (RECs) in order to officially be carbon neutral. Bates College, according to publicly available information, currently purchases the least carbon offsets while still maintaining carbon neutrality. Compared to 2001 levels, it has reduced its emissions by 95%, and the last 5% is offset by carbon credits.