Tuesday, 10 June 2008

Carbon Management Providers Unite to Promote Rigorous Standards

Carbon Clear and seven other leading carbon reduction and offset providers yesterday announced the formation of the International Carbon Reduction and Offset Alliance (ICROA). The organisation has been created to build support for the carefully crafted standards that now exist for the voluntary offset market. In addition, the group will provide a unified voice in promoting credible carbon management strategies, which use a ‘reduce-and-offset’ approach. ICROA intends to be active in policy discussions, push for high standards and advocate greater transparency in the carbon reduction industry.

Jamal Gore, Managing Director, Carbon Clear said: "Carbon Clear is delighted to be a founding member of ICROA. As a company that leads by example, it was important that we lend our expertise to the development of a rigorous Code of Practice that will raise the bar for the entire carbon management industry. We look forward to continuing to help environmentally responsible companies develop a sound carbon management strategy and achieve significant greenhouse gas emission reductions."

Climate change and the greenhouse gases driving it are an international concern so of ICROA’s eight founding members, five have headquarters in the United Kingdom, two in the United States, and one in Australia.

ICROA founding members currently serve thousands of businesses and hundreds of thousands of individuals and are:

The key elements of the ICROA Code of Best Practice include:

  • Measure carbon footprints according to accepted international standards
  • Set emissions reduction targets based on scientific assessments
  • Assess and implement both internal and external emissions reduction opportunities, the ‘reduce and offset’ approach
  • Use credible offset projects, where offsetting is appropriate to meet emissions reduction targets
  • Be transparent in communicating emissions reductions strategies and practices
  • Use offsets that meet the following principles: real, measurable, permanent, additional, independently verified, and unique
  • Submit annual report demonstrating compliance with the Code

Carbon offsets are designed to complement the measures that individuals and corporations undertake to reduce the emissions of carbon dioxide and GHG that result from their daily activities and operations. Carbon offsets result from projects that reduce, avoid, or capture the emissions of carbon dioxide (CO2) and other GHG. Offsets are measured in metric tons of CO2.

Initially the ICROA Code of Best Practice recognizes three standards for offsets as being of sufficient quality: Voluntary Carbon Standard, Gold Standard, and Clean Development Mechanism/ Joint Implementation. The Climate Group, an independent, nonprofit organization dedicated to advancing business and government leadership on climate change, is currently responsible for the day-to-day operations of ICROA, under the direction of the organization’s Executive Committee.