TIACA to launch carbon offsetting programme
26 / 02 / 2024
Source: Love Silhouette/shutterstock
TIACA is launching a carbon-offsetting programme to help smaller companies invest in reducing their impact on the climate.
The Climate Action Platform will go live in the coming days and will provide companies with an initial portfolio of six carbon-offsetting projects.
TIACA worked with carbon consultancy South Pole to select the projects as it specialises in finding offsets that positively impact the climate.
TIACA director general Glyn Hughes said the portfolio covers a range of different projects from around the world.
This includes solar farms in Vietnam and Argentina, reforestation in Mexico, clean water filters in Kenya, energy-efficient cookstoves in Rwanda and a hydropower plant in Indonesia.
All the projects are verified and companies receive certified carbon credits when they invest.
“By working with Southpole we can benefit from their global focus on this area,” said Hughes. “They constantly work with the various accreditation bodies to review the projects to make sure continue to meet standards that are established.”
The scheme is open access to all companies – not just members of TIACA – and each project is linked to one of the United Nations’ (UN) 17 development goals.
Hughes added that the organisation’s recent sustainability survey had revealed a gap between larger and smaller companies in terms of investment in sustainability.
The survey showed that 92% of large companies had a sustainability strategy, compared with 56% of medium companies and 46% of small companies.
It also showed that 45% of companies produced a sustainability report, but this number hides huge differences depending on company size.
Around 70% of large companies produce a sustainability report, compared with 21% of medium companies and 17% of small.
TIACA is aiming for the new platform to help smaller companies reduce emissions without needing to make huge investments.
“It is a unique opportunity for individuals and businesses to have access to a platform where they can invest in positively impacting projects around the world. They can get certification so they can use that as part of their Environmental, Social and Governance or Corporate Social Responsibility reports,” said Hughes.
