CSR360

Uploaded: Monday 20 July 09, 9.43am GMT

There is increasingly more attention directed to the global challenges of climate change. International, national agreements and legislation are in development across the globe to curb carbon emissions by market instruments such as taxes, trading schemes, subsidies and also voluntary schemes. More arguments are emerging in support of action regarding climate change, largely motivated by the most recent Intergovernmental Panel on Climate Change (IPCC) report from a scientific perspective, and similarly, the Stern Report, presenting the economic consequences of failing to respond to climate change.

Government action, consumer demands, NGO lobbying, and supply chain requirements are some of the key factors driving businesses to think strategically about climate change. The necessity of an integrated response to climate change as a global challenge is becoming widely accepted. As a result, businesses are focusing on identifying how their strategies will be affected and taking action to publicly disclose emissions, address risks, pursue opportunities and emission reduction strategies.

The article provides information about offseting as an emission reduction measure. The author presents challenges of effective offseting and guidelines for companies planning to offset their emissions.