A Better Way to Partner on Carbon Offsets?
Over the past decade there have been major innovations in formalizing the carbon offset market in order to reduce global emissions. There is also still A LOT of work to be done in the carbon market space to make it an equitable playing field for organizations like SOIL to become accredited – organizations that are able to quantify carbon mitigation, but unable to bear the heavy burden of associated costs in order to participate in the formal market.
The standard model of carbon offset financing is for businesses and individuals to offset their carbon footprint by purchasing carbon offset credits from accredited organizations whose carbon credits are pooled in the voluntary market. Carbon credits are generated when one ton of carbon dioxide is removed from the atmosphere through activities that mitigate or sequester carbon; a result that is accomplished by organizations (like SOIL) that operate low-emission projects that remove and reduce atmospheric carbon concentrations. The credits are subsequently verified as a part of the formal carbon market accreditation (another method of reducing the overall concentration of carbon is when companies alter their business practices to purposefully reduce their emissions).
However, as is often the case with burgeoning concepts, and as the market for carbon financing grows, certain assertions about this model and its effectiveness have come under scrutiny. Some companies are using credits to make claims of reducing emissions when most of these credits don’t represent emissions reductions at all, while others are delivering dubious carbon offsets, a practice that allows companies to make unjustified claims of climate progress. Along with this, it has been extremely difficult for smaller organizations like SOIL, who have demonstrated that their services are carbon-mitigating and have carbon credits to offer to the carbon credit pool, to become part of the accredited voluntary market due to the prohibitive costs of the process.
But there is another way: Direct Climate Partnerships! Our ongoing partnership with Global Water Intelligence illustrates how companies can take responsibility to offset their emissions by choosing to partner directly with the source of carbon credits, as opposed to purchasing carbon offset credits through the voluntary market, creating an intimate and more transparent exchange. This type of direct climate partnership ensures that 100% of the climate offset funding goes directly to the organizations that are doing the offsetting, allowing for greater impact within the partnership.
In SOIL’s case, the funds used to buy the carbon credits are leveraged with SOIL’s other income streams to magnify its impact by helping to support and grow our operations, and thus offsetting even more carbon. This kind of partnership provides momentum for more direct contributions to climate mitigation efforts and can lead to even greater global effects because they simultaneously support a range of climate positive and social impacts in addition to offsetting carbon emissions (in the case of SOIL: safely managing waste, reducing water usage and creating rich, organic compost).
We are hopeful that the carbon credit certification market will continue to grow, evolve and become more nuanced in its approach. In the meantime, we’ve found there to be a lot of potential in a direct climate partnership approach that aligns well with our carbon financing goals. With this approach, individuals and companies can choose to directly support climate-positive solutions around the world, including SOIL’s work in Haiti, independent of the constraints and expenses of the carbon credit certification market.
Are you or do you know a company interested in partnering directly on carbon offsets – offsets that offer much more impact than a transactional approach? We would love to hear from you! Send us a message! [email protected]
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Rex P. Cowan
May 12, 2023 (3:52 pm)
“But there is another way: Direct Climate Partnerships! Our ongoing partnership with Global Water Intelligence illustrates how companies can take responsibility to offset their emissions by choosing to partner directly with the source of carbon credits, as opposed to purchasing carbon offset credits through the voluntary market, creating an intimate and more transparent exchange. This type of direct climate partnership ensures that 100% of the climate offset funding goes directly to the organizations that are doing the offsetting, allowing for greater impact within the partnership.”: WELL done, and WELL said, SOIL!