Including the closely related terms carbon offsetting, and offsetting.
… for carbon to 2030 The outlined projects, detailed below in section 7, do not at this stage enable the Council to reach ‘neutral’ emission by 2030 – there is a gap to target of 776 tCO2e. Therefore, remaining carbon reduction not achieved by 2030 and which keeps emissions above net zero would need to be ‘offset’ i.e., ‘gap to target’. Carbon offsetting enables the Council to invest…
…. 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 to target…
… when all effort has been made to reduce carbon emissions. To adhere to the convention of carbon reduction, only emissions that cannot be abated by other means should be offset. Significant offsetting leaves the Council exposed to the market to meet their target. The carbon offsetting costs (£/tonne CO₂e) used in this analysis are based on government forecast figures in a mid-range scenario…
…. Carbon offsetting is an evolving market and as such more difficult to predict. The cost of carbon offsetting could be substantially higher by 2030 especially as demand is likely to drastically increase at that point and over the intervening period. Care will also need to be taken to avoid schemes that offer little overall benefit or make fraudulent claims. It will be more appropriate to assess…
… of the approaches to enable the Council to reach its target of carbon neutral by 2030, as set out in table 1 below. The analysis does not include the costs of Estate Rationalisation. 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…