A Growing Reliance: How European Companies Lean on Carbon Offsets
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A Growing Reliance: How European Companies Lean on Carbon Offsets

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Around 70% of S&P Europe 350 companies report using carbon offsets as part of their climate strategies, according to analysis from The Conference Board. This indicates that offsets are prevalent in corporate climate strategy, even as scrutiny intensifies around transparency and impact. Carbon offsets, also called carbon credits, are financial instruments that allow companies to balance emissions by investing in projects that reduce or remove emissions elsewhere, such as renewable energy or forest conservation.

Around 70% of S&P Europe 350 companies report using carbon offsets as part of their climate strategies, according to analysis from The Conference Board. This indicates that offsets are prevalent in corporate climate strategy, even as scrutiny intensifies around transparency and impact. Carbon offsets, also called carbon credits, are financial instruments that allow companies to balance emissions by investing in projects that reduce or remove emissions elsewhere, such as renewable energy or forest conservation.

Trusted Insights for What’s Ahead®

As companies work to reduce emissions and meet ambitious climate targets, many industries have leveraged carbon offsets. To maximize the impact of these tools, companies should:

  • Set clear objectives: Realizing net-zero targets will require companies to use carbon offsets but offsetting can only be credible as a secondary strategy. Carbon offsets should only be considered as part of the net-zero journey to balance residual emissions that are not possible to eliminate.
  • Ensure additionality: Use offsets that deliver verifiable emissions reductions that would not occur without the project, while meeting recognized standards.
 
  • Conduct rigorous due diligence: Thoroughly vet and regularly monitor projects, including through site visits, to ensure effectiveness. Engage accredited third-party a

Authors

Anuj Saush

Anuj Saush Anuj Saush

Head, TCB Advisory International
The Conference Board

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Evi Angelidou

Evi Angelidou Evi Angelidou

Program Director, Advisory, International
The Conference Board

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