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In general, buying carbon offsets to achieve climate neutrality should only be done as a last resort. A primary reason for this is economic, because unlike most emissions reduction actions that can provide a financial return on investment over the short- and/or long-term, when an individual actor, like a university, buys carbon offsets it is a one-time cost that has no direct or immediate return. On the other hand, buying carbon offsets can be a simple way to make a statement about a commitment to climate neutrality while supporting the markets for clean renewable energy, conservation, and other off-site emissions reductions activities. At some point along the journey to climate neutrality offsetting may also be a cost-effective alternative to direct emissions reductions if the cost to reduce a ton of CO2 equivalent becomes exceedingly high due to high sunk costs fossil fuel dependant assets or other factors.
Finally offsetting puts a price on greenhouse gas emissions, and can be used as a budgetary incentive for making onsite reductions, as those reductions will reduce the cost-burden of offsetting.
Carbon offsetting is still an emerging, evolving, and often controversial field. The ACUPCC has sparked meaningful dialogue around carbon offsetting, and the ACUPCC learning community is making an important intellectual and practical contribution to the space through the ACUPCC Voluntary Carbon Offset Protocol project. As the higher education community continues to evaluate the current options and sets policy for their own actions with regard to the role of offsetting in the pursuit of climate neutrality, the ACUPCC will provide an important venue in which the collective voice of climate leaders in higher education can be heard.
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