To achieve the long term goal of the Paris Agreement organizations in every sector must unite in decarbonizing operations and value chains.
Unfortunately emissions from certain sources can only be eliminated at a prohibitive expense with existing technologies while emissions from some sources cannot be eliminated at all.
Carbon credits, purchased voluntarily, enable organizations to compensate for residual emissions by financing reduction of emissions from other sources, or removal of greenhouse gases from the atmosphere.
Organizations are increasingly seeking to not only reduce current emissions, but also compensate for their past contributions to climate change. This is only achievable by contributing to progressive climate actions. Voluntary carbon markets are crucial to safeguard transparency and effectiveness of climate actions irrespective of if used to offset emissions or to facilitate cost effective actions. Carbon markets where carbon credits can be traded play a significant role in ambitious strategies of organizations through both the removal/sequestration and the avoidance or reduction of emissions.