Everything You Need To Know About Carbon Offsets

The market for carbon offsets has taken off in recent years, with about 250 million tons of offsets being issued in 2020. Travel managers tasked with shrinking the carbon footprints of companies should know what offsets are and how to find offsets that meet internationally recognized emissions reduction standards. Find out how offsetting emissions fits into corporate sustainability initiatives and related methods of carbon management such as carbon credits, capture and renewal.

What Are Carbon Offsets?

The concept of carbon offsetting is based on a system of balancing expenditures and investments of environmental resources. Professionals expend resources and generate emissions through travel for work. Offsetting involves a coordinated effort to counter the release of carbon dioxide emissions by responding with measures that have been proven to reduce carbon dioxide levels elsewhere in the world.

Several data points are relevant for making accurate offset calculations: aircraft type, fuel efficiency, class of travel, miles traveled, and occupancy rate are all key. Even elements like time of day and weather conditions are important to account for when calculating emissions estimates.

Each of these factors can have effects on the emissions generated during a flight. Research published in “The Guardian” in 2019 suggests that both short- and long-haul flights generate more emissions than people in many countries around the world produce in a full year. 

Business travelers can use flight booking tools with integrated Thrust Carbon offset calculators to select the most environmentally friendly travel arrangements. Coordinators can save money and reach shared sustainability goals by using Rocketrip for corporate travel programs.

How Are Carbon Offsets Standardized?

The Gold Standard is the leading voluntary carbon offset program that focuses on progressing the Sustainable Development Goals set by the United Nations. The GS Project Registry tracks projects that meet the requirements for certification. International regulatory bodies such as the United Nations Clean Development Mechanism Executive Board and non-governmental organizations also oversee offset programs.

The main reason why carbon offsets should meet recognized international standards is that some credits are more meaningful than others in terms of actual carbon capture and sequestration. An initiative that plants trees that are cut down for lumber before reaching their full carbon capture potential is an all-too-common loophole in an indirect approach to balancing emissions.

Rocketrip relies on award-winning offsetting tools to narrow down available offsets to the most engaging and effective offers. An important aspect to note about the carbon economy is that credits and offsets can only be claimed once and must then be taken out of circulation in coordination with real measures. In addition to being tradeable, carbon credits and offsets are also traceable and finite.

Do Offsets Actually Correspond To Travel?

Reliable markets for carbon offsets offer travelers and travel managers a choice of certified offsets. These offsets should correspond to the amount of emissions generated by trips, based on calculations that take all of the relevant factors into consideration. 

According to the U.S. Environmental Protection Agency, a cross-country round-trip flight in economy from New York to Los Angeles produces about 0.62 tons of CO2 per passenger, as calculated with the UN’s International Civil Aviation Organization carbon calculator. As the average car emits about 4.6 metric tons of CO2 annually, a single long-haul flight generates the equivalent of nearly 14% of the annual emissions produced by a gasoline-fueled automobile. 

While legitimate offsetting programs can correspond to emissions generated by business travel, it is important to note that the value of carbon credit prices fluctuates. Recent research suggests that carbon offset prices could increase tenfold by 2030. Travelers and travel coordinators can benefit from using a travel booking service built on established carbon offsetting systems.

How Do Carbon Credits Compare With Offsets?

Credits and offsets for carbon correspond to the emission of a set amount of carbon into the atmosphere. Buying carbon credits is effectively purchasing the capacity to emit carbon, while carbon offsets represent measures being taken to counterbalance emissions. These programs are most widely adopted in countries participating in the Carbon Neutrality Coalition and other international programs that are oriented towards reaching net zero emissions by set dates.

Carbon capture and renewal are two concepts often associated with carbon credits and offsets. Carbon capture, storage and sequestration describe the processes and mechanisms used to capture CO2 before it enters the atmosphere, often at large point sources, or otherwise retain this gas underground.

Long-term carbon sequestration and storage are both relatively new approaches to controlling CO2 levels, as is carbon renewal for reducing plastic waste. This process involves advanced recycling methods that convert plastic waste into usable components and reduce pollution. Taken together, these methods have the potential to reduce atmospheric CO2 levels, particularly with much more widespread adoption worldwide.

What Is the Best Way To Buy Carbon Offsets?

Transparency is of utmost importance when trading in carbon markets. Whether you are an individual traveler or a travel manager tasked with offsetting the impact of a business travel program, you can benefit from using a platform that delivers data from a trusted offset platform, such as Thrust Offset. 

Rocketrip includes Thrust Offset carbon emission data in travel management tools and trip-planning interfaces. Travel management professionals can use this platform to collaborate with financial teams and sustainability specialists in offsetting carbon emissions from travel programs.

Business travelers will find the most eco-friendly travel options on Rocketrip. Online calculators also make it easy to determine the amount of CO2 emitted during travel, and validated offset marketplaces make it possible to purchase credits associated with Gold Standard-certified or other recognized offsetting projects.

How Do I Factor Carbon Offsets Into Travel Plans?

Using the right tools simplifies the process of offsetting CO2 emissions from corporate travel. Rocketrip simplifies money-saving and ecologically conscious travel booking to help companies and professionals achieve sustainability goals. As transportation is second only to electricity production in contributing to the carbon footprints of U.S.-based companies, buying carbon offsets can be a step toward balancing the resource demands of business travel.

Contact us to find out how to boost your travel program sustainability and save more on your business travels with Rocketrip.