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The Difference Between a Carbon Offset and a Carbon Credit
While often used interchangeably, there's a key distinction between carbon offsets and carbon credits. A carbon credit represents one tonne of CO2 or CO2e that has been removed or avoided. Carbon credits can only be considered a carbon offset when purchased with the sole intention of compensating for emissions.
Why Offsets Do Not Fit Into a Net Zero Strategy
Since offsets can include both removal projects and avoidance projects, it is critical to make a clear distinction between the two. Offsets originating from carbon avoidance projects do not inherently contribute towards a net zero strategy. A net zero approach requires an actual decrease in atmospheric carbon levels, meaning that the prevention of future emissions is insufficient to achieve this. This is why it is crucial to incorporate removal credits into a net zero strategy.
Importance of Focusing on Removals
The Oxford Principles for Net Zero Aligned Carbon Offsetting highlights the importance of cutting emissions and using high quality offsets (which includes avoidance/reduction projects), with a focus on transitioning towards carbon removals in order to stay in-line with the Paris Agreement goals.
Removal projects provide a direct route towards Net Zero, as they actively contribute towards the reduction of atmospheric CO2 levels. This is not to say that carbon avoidance should be neglected; it remains an integral part of a comprehensive social and climate strategy. However, the balance must shift towards removals to genuinely move towards a sustainable and carbon-neutral future.