Step-by-Step: How Our Company Evaluates and Chooses Offset Projects

Step 1: Setting Clear Objectives

Before starting the evaluation process, we define our company’s objectives. This could include specific environmental targets, alignment with our industry’s dynamics, geographical preferences, and any co-benefits we prioritize (e.g., community development, biodiversity conservation).

Step 2: Preliminary Research

We gather a broad list of potential offset projects from trusted platforms and databases.
We consider a range of project types, from forestry and reforestation to renewable energy and methane capture.

Step 3: Verify Certification and Standards

We ensure that each potential project adheres to recognized international standards such as the Verified Carbon Standard (VCS), Gold Standard, or the Clean Development Mechanism (CDM).
These standards ensure that the projects have met rigorous criteria and are regularly audited by third parties.

Step 4: Assess Project Additionality

A key criterion is ensuring the project provides “additionality.” This means the carbon-saving activities wouldn’t have happened without the funding from carbon offsets.
We avoid projects where the carbon-saving activities would have occurred regardless of offset funding.

Step 5: Evaluate Project Longevity and Permanence

Particularly for forestry projects, we evaluate the risk of the carbon being re-released into the atmosphere, whether through logging, disease, or forest fires.
We prioritize projects that have measures in place to ensure the longevity of their carbon sequestration.

Step 6: Check for Co-Benefits

We prioritize projects that not only reduce carbon emissions but also bring about additional positive impacts.
We look for projects that align with other corporate sustainability goals, such as supporting local communities, enhancing biodiversity, or promoting water conservation.

Step 7: Engage Stakeholder Feedback

Before finalizing our selection, we engage key stakeholders, including employees, shareholders, and even customers, in the decision-making process.
This can involve surveys, focus group discussions, or town-hall style meetings.

Step 8: Investigate Project Developers and Partners

We conduct due diligence on the organizations and partners behind each project.
This ensures that we’re working with reputable partners who have a track record of successful and ethical project implementation.

Step 9: Visit and Engage

Whenever feasible, we visit the project site to get a firsthand understanding.
Direct engagement allows us to see the project’s impacts, meet local partners, and establish a more personal connection.

Step 10: Final Selection and Partnership Agreement

Based on our evaluations, stakeholder feedback, and on-ground observations, we select the project(s) that best align with our objectives.
We then enter into a formal partnership agreement, detailing commitments from both sides, monitoring protocols, and reporting timelines.

Step 11: Ongoing Monitoring and Reporting

Post-partnership, we have an ongoing monitoring and reporting system.
This ensures the project delivers as promised, and allows us to communicate our impact transparently to our stakeholders.

Conclusion:

Our company is deeply committed to ensuring that our carbon offset partnerships are impactful, genuine, and align with our broader sustainability goals. This thorough, stakeholder-inclusive process ensures we make decisions that reflect both our corporate values and the needs of our planet.