carbon offsets

PwC pledges to offset air travel emissions and source 100% renewable electricity

We are seeing more of this (offsetting carbon emissions) and IU Energy has teamed up with Carbon Neutral/Natural Capital Partners to support this initiative. There are numerous ways of offsetting carbon other than investing in renewables. However, if you want to save and earn money, renewables are a very good way to do it and represent a far better ROI than your bank. They can add 5% to your bottom line.

Carbon offsets. The multinational this week joined The Climate Group’s RE100 initiative to source 100% clean power for its global operations – an aim it has committed to achieve by 2022 across its 21 main territories, which account for 88% of its revenue streams. Other smaller markets will follow suit in subsequent years. The firm notably has operations in 158 countries and more than 236,000 employees.

Additionally, PwC will offset all air travel emissions from July 2018 by purchasing carbon credits that support a range of low-carbon projects across the world, including the construction of a 140MW wind farm in Turkey and a reforestation project aimed at boosting biodiversity in Borneo.

PwC claims that the projects it supports through its new offsetting scheme will collectively generate 209,000MWh of clean energy, protect 656,000 hectares of forest and create 420 acres of new wetland habitats.

“We believe business has a key role to play in solving societal challenges alongside other stakeholders,” PwC’s global chairman Bob Moritz said.

“This commitment is for us a recognition of the need to accelerate the pace of change, and individual business commitments, collectively, will make a critical difference to that.”

Green GB Week

The pledges have been made as part of the Government’s Green GB Week – a week-long series of content and events that showcase the benefits clean growth will bring to all parts of society. PwC joins the likes of Barratt DevelopmentsAmazon UKEDF Energy and John Lewis & Partners in making new business sustainability commitments –  all of which have been posted on edie’s Mission Possible Pledge Wall.

Commenting on PwC’s announcement, The Climate Group’s corporate partnerships director Mike Peirce said: “By joining RE100 and committing to source 100% renewable electricity for its global operations, PwC makes it clear that renewable power is integral to a future-oriented business strategy.

“As a network of firms in over 150 countries, PwC is sending a powerful message that business has a key opportunity to grow demand for clean energy across the globe.”

The new commitments build on PwC’s existing sustainability goals in individual territories across its network. PwC UK, for example, has previously set a science-based target to reduce its total absolute carbon emissions by 40% by 2022, against a 2007 baseline.

The UK firm has been offsetting its entire Scope 1, 2 and 3 carbon emissions since 2007, using schemes such as REDD+, which creates carbon credits through conservation efforts across the world. These schemes have collectively protected 80,000 hectares of virgin forest from deforestation and generated 200,000MWh of renewable power, according to PwC.

Original article here.

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