Goal and Approach: Reduce, Offset and Neutralize
Offsetting represents an immediate instrument to achieve the Paris Agreement goals – offsetting, however, cannot replace the necessary reduction of one’s own emissions. Companies should follow “reduction – compensation – neutralization” approach to achieve Net Zero target.
This approach implies the implementation of reduction measure and the compensation of unavoidable emissions. The latter will proportionally decrease, with the increase in GHG emission reduction overtime. In the last step, emissions are neutralized through carbon removals by carbon sinks.
- Plan a trajectory to reduce emissions
- Set targets consistant with a 1.5°C
- Migitation pathway
- Implement reductions
For the unavoidable emissions, become climate neutral by financing projects that further avoid and remove emissions.
Eventually eradicate unavoidable residual emissions with carbon removals to achieve net zero.