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| Home » Carbon management » Offsetting schemes
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Offsetting schemes |
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Offsetting schemes essentially refers to carbon offsetting processes. It is a financial instrument aimed at reducing emissions of greenhouse gases. Though there are six main greenhouse gases, carbon offset is measured in equivalents of one metric ton of carbon dioxide released in the atmosphere.
Offsetting schemes mainly involve setting up of renewable energy sources like hydroelectric dams, wind farms, and bio-fuel. Offsets generated from emission reducing processes also include destruction of agricultural byproducts and industrial pollutants, reforestation, destruction of methane landfills, and establishment of energy efficiency projects.
Renewable energy sources – Renewable energy offsetting schemes include establishment of hydroelectric power stations, wind power generating stations, bio-fuel units, and solar power stations.
Destruction of industrial pollutants - Industrial pollutants like perfluorocarbons (PFCs) and hydrofluorocarbons (HFCs) have global warming potential (GWP) reaching up to more than thousand times greater than the same volume of carbon dioxide. As these pollutants can be destroyed at source, they represent a low-cost carbon offset source.
Methane combustion – Certain offset schemes include containment and combustion of industrial wastes, landfills, and farm animal generated methane. Methane with a GWP 23 times more than that of carbon dioxide, reduces global warming effect by around 96%. Anaerobic digestive process of producing methane generates both heat and electricity.
Land use and forestation – Reforestation and afforestation are extremely effective carbon offsetting schemes. Deforestation has led to an increase of 20% in greenhouse gas emissions. Forests and trees function as natural carbon sinks. Proper soil conservation and management is helpful in cloistering carbon in soil.
Energy efficiency – Cogeneration plants, energy efficient buildings, and fuel efficient devices help in lessening the carbon intensity of energy supply.
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