1、UK COLLECTIVE OFFSETTING FUNDJuly 2024Blueprint for a Business-ledForeword 3Executive summary 4Chapter 1 Introduction 6Chapter 2 Offsetting Landscape 9Chapter 3 UK Carbon Offset Fund 13Chapter 4 London Local Planning Authority Offset Funds 20Chapter 5 Conclusion and next steps 22Authors/Contributors
2、 24ContentsFor the UK to transition towards a net zero carbon future and restore our natural environment,every sector of the economy must dramatically decarbonise while enhancing our capacity to remove existing greenhouse gas(GHG)emissions from the atmosphere.It is heartening to see the urgency to d
3、ecarbonise is now well understood,with many UK organisations already taking significant steps towards achieving this goal.However,the equally crucial task of removing GHG emissions from the atmosphere has historically received less attention.Encouragingly,this is beginning to change as more UK organ
4、isations actively seek ways to support GHG removals,in alignment with the“Oxford Principles for Net Zero Aligned Carbon Offsetting”.Many UK organisations find they cannot remove existing emissions within their own assets or value chains and must turn to the Voluntary Carbon Market(VCM)to purchase an
5、d retire offset credits.But there are not enough schemes to meet current market demand,let alone the projected needs to limit global temperature rise to 1.5C.When BusinessLDN and Arup set out to address this issue,it became clear that traditional approaches to purchasing carbon credits from the VCM
6、needed disruption.The well-publicised shortcomings of the VCM have led to the terms“offsetting”and“carbon credits”being associated with greenwashing.There must be a better way to leverage the VCM to generate high-quality UK credits that combat climate change and deliver tangible benefits to local co
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