NEWS
THE FUTURE OF THE CARBON CREDIT MARKET FOR 2023 AND BEYOND Shidan Gouran, Founder and CEO of Bluesphere Carbon
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growing number of companies and organizations are setting ambitious goals to become net-zero carbon emitters, with many targeting 2023 and beyond for achieving these goals. As part of their efforts to reduce their carbon footprints, many of these companies are turning to the carbon credit market as a way to offset their remaining emissions. Carbon offsets are essentially a way for companies and organizations to pay for emissions reductions elsewhere in order to compensate for their own emissions. This allows them to reduce their net carbon footprint and achieve their net-zero carbon goals. One of the key ways that carbon offsets are helping companies to reduce their carbon footprints is by funding the development and deployment of renewable energy sources. These projects can include wind farms, solar panels, and other forms of clean energy that help to displace fossil fuels and reduce overall greenhouse gas emissions. By purchasing carbon credits from these projects, companies are able to support the development of renewable energy and offset their
own emissions at the same time. Another way that carbon offsets are helping to reduce carbon footprints is through the support of carbon capture and storage (CCS) technologies. CCS involves capturing carbon dioxide (CO2) emissions from power plants and industrial facilities, and then storing them underground in order to prevent them from entering the atmosphere. By purchasing carbon credits from CCS projects, companies are able to offset their own emissions and support the development of this important technology. While carbon offsets can be a useful tool for companies looking to reduce their carbon footprints, it is important to ensure that they are properly regulated. This is because not all carbon offsets are created equal, and some may be less effective at providing an environmental benefit than others. For example, some carbon offset projects may not result in real, permanent emissions reductions, or may not be verified by an independent third party. To address this issue, many companies are turning to voluntary carbon offset standards, such as the Verified Carbon Standard (VCS) and the Gold Standard,
which provide rigorous, independent verification of emissions reductions. These standards help to ensure that carbon offsets are high quality and provide real, permanent emissions reductions. Despite the challenges, the carbon credit market is poised to become an increasingly important part of the conversation surrounding climate change in 2023 and beyond. As more and more companies set ambitious net-zero carbon goals, the demand for carbon offsets is likely to increase. This, in turn, will drive innovation and investment in the carbon offset space, leading to the development of new and improved offset projects. Overall, carbon offsets are playing a crucial role in helping companies and organizations reduce their carbon footprints and achieve their net-zero carbon goals. While there are still challenges to be addressed, the carbon credit market is likely to become an increasingly important part of the broader conversation surrounding climate change in the coming years. https://bluespherecarbon.com/
COUNCIL ADOPTS GROUND-BREAKING PLANNING FRAMEWORK
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ath and North East Somerset has become the first council in England to successfully adopt an energy-based net zero housing policy as part of its commitment to tackling the climate emergency. The new housing development policy will ensure the energy use of any proposed development is measured and meets a specified target – setting a limit on the total energy use and demand for space heating. It will also require sufficient on-site renewable energy generation to match the total energy consumption of the buildings – ensuring the development is 100% self-sufficient. New policies will also address building emissions such as a policy to limit carbon emissions resulting from the materials used in the construction of large-scale developments. These ‘upfront’ embodied carbon emissions will be limited to 900kgCO2e/m2. The council will also impose net zero operational carbon standards for new major non-residential development. The Local Plan sets out the basis for decision making on development and
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the use of land that requires planning permission across B&NES. The adopted LPPU includes some changes, known as main modifications, that were suggested by an independent planning inspector to ensure the Local Plan Partial Update (LPPU) would be sound and legally compliant. They were consulted on last year. The LPPU includes specific policies that will secure net zero development, help facilitate the delivery of renewable energy installations of an appropriate scale in the most suitable locations and further encourage the shift towards more sustainable forms of transport. It will also help to replenish housing supply, enabling the council to meet its housing requirement in a planned way and have greater control over speculative planning applications. In addition, the LPPU will help the council to better manage off-campus, purposebuilt student accommodation schemes where they meet a demonstrable need. The new Biodiversity Net Gain policy requires major developments to demonstrate a Biodiversity Net Gain of
ENERGY MANAGER MAGAZINE • MARCH 2023
a minimum of 10% which is secured in perpetuity, for at least 30 years. Minor developments will only be permitted where no net loss and appropriate net gain of biodiversity is secured. The council liaised with Cornwall Council and used their evidence base to support the new net zero construction policy. The recent adoption of the Sustainable Construction Checklist SPD provides the reporting framework to demonstrate compliance with the new sustainable construction policies and the council’s partnership with the University of Bath will help to evaluate implementation and industry response. The policy is the first new housing policy to be net-zero aligned based on 2030 trajectories of industry-leading organisations such as the London Energy Transformation Initiative (LETI), the Royal Institute of British Architects (RIBA) and the Chartered Institute of Building Services Engineers (CIBSE). https://beta.bathnes.gov.uk/ policy-and-documents-library/ future-policy-local-plan