Green Options

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Companies involved in offsetting their carbon footprint have access to over twenty tools to calculate their emissions, most of which have been launched in the last year. So far, the voluntary carbon offsetting market is dominated by European players. Reviews of their efforts have not been all too positive, so US companies following in their footsteps do best to avoid the pitfalls.

The main criticism centers on what’s left out of the equation. Companies embarking on greening up their business practices are faced with a daunting task and most go about it the “easy way” at first. There’s the option to simply offset carbons on the Chicago Climate Exchange, the European Climate Exchange or on the newly established NYMEX venture, the Green Exchange. Businesses have access to these exchanges if they wish to reduce their overall greenhouse gas emissions by as little as 1%.

Meet Beatrice Ahimbisibwe. She’s a widowed single mother and a school-teacher in Uganda. Plus she creates 5.7 tons worth of carbon offsetting credits annually for TetraPak UK, a company intent on reducing its carbon footprint.

Ahimbisibwe owns a little plot of land on which she grows some of the trees involved in TetraPak’s contract to produce fresh air for all the pollution caused by its production processes. A case study of the carbon sequestration project on EcoSystemMarketplace.com reveals interesting insights into the practices of an emissions offsetting program.