The effects of climate change are becoming increasingly visible with 2014 being the hottest year on record and increasingly disrupted weather patterns worldwide. Global sourcing means that events like these are big risk for supply chains. Businesses are therefore notching up their emission reducing efforts and some have added another string to their bow Carbon Insetting.
Carbon insetting embeds carbon offset projects directly into the supply chain, turning an external expense into an investment and a liability into more of a business advantage. This long term strategic approach not only strengthens a company’s supply, but creates wide encompassing benefits for supplier communities and the ecosystem. Such shared value is good for the supplier, the consumer and the business, turning a strategic priorities into smart solutions for the biosphere and people worldwide.
The Business Case for Carbon Insetting
- Enhancing vital business resources and protecting them from the future impacts of climate change
- Creating shared value and providing long-lasting support to supplier communities worldwide, who receive twin economic and ecosystem benefits.
- Helping to prevent the damaging effect of carbon on the biosphere
- Enabling business to lead us towards achieving the United Nation’s 2 degree target..
Whilst Insetting is an innovative new approach to carbon management, it cannot be used alone. Businesses still need to create an all-encompassing emissions reduction strategy, combining the benefits of Insetting, Offsetting, Conservation and Renewables. By working within the supply chain in a holistic way they will be able to maximise their impact and achieve numerous far reaching benefits.
See how it is done with this Insetting 101 put together by CLevel with Plan Vivo during a recent conference at IIED’s London offices – stakeholders came together to discuss the opportunities and challenges of insetting and ways to carry it forward in the future.