Carbon management frequently asked questions part 2: offsets
Next in the series we tackle carbon offsets, the market mechanism to compensate for unavoidable emissions
1 minute read
Elena Belletti
Global Head of Carbon Research
Elena Belletti
Global Head of Carbon Research
Elena's research supports decision-making on emissions, decarbonisation, carbon markets and carbon prices.
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How are oil and gas companies using carbon offsets to decarbonise?
The carbon offsetting market allows companies to buy emissions reductions from a variety of technologies including renewable energy, nature-based solutions, waste disposal and many others.
Carbon offsets provide around 500 million tonnes per year (Mtpa) of emissions reduction, with nature-based emissions accounting for over 150 million Mtpa. To achieve a 1.5 degrees scenario, nature-based solutions will need to generate over 5800 Mtpa (around 17% of current global CO2 emissions).
Offsets are a key instrument for companies to reach their net zero goals, especially for their scope 3 emissions. Responsible companies in all sectors are investing in offsets to emissions that cannot be abated with current technologies. Carbon management technologies and market-based mechanisms such as offsets will continue to evolve as the industry scales.
In this video series, we answer some of the most asked questions about carbon management. Watch below to find out more about carbon offsets.
What are carbon offsets?
Why are offsets important for the energy transition?
What is the role of offsets for metals and mining companies?
Next up, we focus on CCUS. To receive the latest carbon content direct to your inbox, fill in the form.
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