Survey- Environmental Issues Top Companies’ Plan: Businesses Choose to Offset Carbon to Prevent Climate Change

According to the Carbon Management and Offsetting Trends Survey Report , about three-quarters of companies in the survey are implementing carbon management strategies, up from 2015. The survey is the result of a partnership among EcoSecurities, Baker & McKenzie LLP, and ClimateBiz, all based in Dublin, Ireland. The survey was compiled by several authors and was released Sept. 23, 2016.

About two-thirds of the 300 companies surveyed are measuring their carbon footprint caused from greenhouse gases. A little more than half of North American companies are looking at their carbon footprint and their greenhouse gases compared to 92% of Australian firms and 62% of European companies.

Companies Implementing Other Environmental Strategies

Even if companies don’t have a carbon management strategy or are measuring their carbon footprint, they are taking action to protect the environment.

  • 85% implement energy-efficient measures
  • 79% conduct recycling activities
  • 68% reduce waste
  • 92% are interested in solar power
  • 86% are interested in wind power

They are doing these activities because they are economical and represent the easiest actions companies can take to save the environment.

“It’s highly encouraging to see this growth in interest from companies taking climate action despite the doom-and-gloom outlook on the global economy this year,” said Wheeland, one of the authors. “There’s still plenty of room for improvement.”

Companies Buying Carbon Offsets

Companies have begun one strategy to protect the environment. They showed a strong interest in offsetting their carbon footprint by buying carbon offsets or planning to buy offsets. Of those that bought offsets in the last two years, some offset air travel and offset specific services or products.

The number of companies offsetting their carbon footprint is likely to increase as they work hard to meet carbon neutrality targets. Budgetary concerns are the main reasons companies have stopped offsetting carbon before the mandated targets take effect in 2012.

In addition, one-third of companies said they lack an understanding of offsets. More work must be done to help consumers and corporate officials accept the strategies, the report said. Companies also worry about new regulations or uncertainty in regulatory environment regarding offsets.

The survey pointed out alternatives to carbon offsetting. Companies have chosen to reduce internal emissions, invested in community projects and contributed to adaptation projects. When broken down by region, the survey found the rest of the world favored adaptation where the effects of climate change are felt most.

According to the Carbon Management and Offsetting Trends Survey companies are actively pursuing buying carbon offsets, finding ways to protect the environment and setting aside portions of their budgets for these activities.

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