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Carbon Reduction and Offset Providers Unite to Promote Rigorous Industry Standards
Eight of the world’s leading carbon-reduction and offset providers - including co2balance - today 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. “Climate change is a major concern, and ICROA members are providing leadership and effective solutions in the emerging carbon management market,”
Jonathan Shopley, ICROA Co-Chair in the United Kingdom, said. “All member companies have formally agreed to adhere to a Code of Best Practice, which will ensure that members follow credible carbon-management practices. “Our goal is quite simple: To ensure that businesses and individuals reduce their GHG emissions,” Shopley said ” We encourage our customers make changes in to their daily activities and to complement those direct reductions with the purchase of high-quality offsets.” The key elements of the ICROA code of best practice are:
- Measurement of carbon footprints according to accepted international standards.
- Setting 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.
- Submission of annual report demonstrating compliance with the Code.