LONDON–(BUSINESS WIRE)–Sweep, the leading carbon management and mitigation platform, has deemed traditional carbon offset practices deeply inefficient and outlined the merits of the contribution approach in a white paper released today.
This new methodology limits financial and reputational risks and adds moral weight to corporate climate programs. This approach involves three complementary steps:
Establishing an internal carbon tax, as an effective solution to signal the reduction of emissions at the source
Use the funds generated by the tax to finance the contribution strategy, including funding direct and indirect reduction initiatives and the purchase of carbon credits
Building a significant portfolio of carbon certified projects that align with business strategy and address local social and environmental needs
With this approach, an organization can use the funds collected to invest in climate action. The Sweep methodology effectively addresses the historical mistrust of offset practices and how they have shifted the focus away from emissions reductions.
Renaud Bettin, VP Climate Action at Sweep said: “It is time to break free from contingent claims of carbon neutrality and ensure that the purchase of carbon credits is driven by impact and altruism. This is how corporate and financial organizations can make a significant contribution to building a fair and inclusive low-carbon future.”
Following the historic COP27 agreement on loss and damage and the urgency to achieve national net zero goals, Sweep is calling for the rise of a generation of contributing companies taking credible and transparent action to address the climate crisis.
To download the white paper, click here.
About Renaud Bettin
As Sweep’s VP Climate of Action, Renaud has over 15 years of experience in corporate climate strategy. Committed to helping companies become a driving force to achieve global net zero, he launched the Net Zero initiative’s reference framework for corporate carbon neutrality and the carbon finance website Info Compensation Carbone. His thought leadership has been featured in the World Bank’s Carbon Pulse and Carbon Pricing Leadership Coalition.
Sweep helps companies track and act on their carbon so they can become forever companies.
The data-driven platform makes it easy to understand, manage and reduce your carbon footprint. Powerful collaboration features and user-centric design empower staff and the entire value chain to build a cleaner business. The platform also has an integrated marketplace, allowing you to contribute to exciting carbon reduction and removal projects around the world. And with all your data in one place, its analytics provide deep insights into your progress and automated reporting to stakeholders.
Sweep is a certified B Corp and a member of the World Bank’s Carbon Pricing Steering Coalition and the International Emissions Trading Association. Visit sweep.net to learn more.