PLEA Network

11 October 2021, The Conversation: We can’t stabilise the climate without carbon offsets – so how do we make them work?Carbon offsetting has been in the news lately after a report raised concerns about the integrity of the federal government’s offsetting scheme, the emissions reduction fund. Offsetting refers to reducing emissions or removing carbon dioxide from the atmosphere in one place to make up for emissions in another. Done well, it lowers the costs of reducing emissions. Done badly, it increases costs and gives us false confidence about our progress towards net zero emissions. It’s a difficult part of the climate change conversation worldwide and, because of past problems, there’s understandable cynicism about its potential. The Grattan Institute has just released a new report on the role of offsetting in achieving net zero targets. In it, we show even with strong policies to reduce emissions wherever possible, Australia is going to need offsetting — potentially lots of it — to reach a target of net zero emissions. What is offsetting? Offsetting is often done through a system of credits or offsets — units that represent one tonne of emissions reductions achieved, or one tonne of carbon dioxide removed from the atmosphere. Read more here