Including the closely related terms carbon offsetting, and offsetting.
… solutions and modelled scenarios by LASER, do not enable the Council to reach ‘neutral’ emission by 2030 – there is a ‘gap to target’ of 776 tonnes carbon (tCO2e) per year. Therefore, remaining carbon reduction not achieved by 2030 and which keeps emissions above the carbon neutral target would need to be ‘offset’. 1.29 Carbon offsetting enables the Council to invest in environmental…
… for the yearly offsetting costs. There are no financial returns from offsetting. These costs will also increase over time due to this being a finite resource of tonnes/carbon. 2.9 Carbon offsetting is defined as, ‘the process of trying to reduce the damage caused by releasing carbon dioxide into the environment by doing other things that remove carbon dioxide, for example, by planting trees…
…. 2.13 The key impacts of the various scenarios are shown by the net emissions and net cashflow which clearly demonstrate the cumulative impact of the selected option on the council’s emissions. With each model providing an indication of the differing strategies to achieve net zero by 2030 and of the high level of financial investment required and the amount of carbon offsetting, (‘gap…
… in table 1 below. The analysis does not include the costs of Estate Rationalisation. 2.21 Funding source(s) will need to be identified as part of the development of actions. Scenarios modelled: Investment requirement (£million) Carbon offsetting required (Tonnes CO2e) Central Scenario – 5% Estate Rationalisation 3.13 1,128 Central Scenario - 0% Estate Rationalisation (ER) 4.10…