In the wake of COP27 and offsetting practice scrutiny, Sweep ushers in a contribution method to turn carbon credits into an asset for corporate climate programmes.
Sweep, the leading carbon management and reduction platform, has taken aim at traditional carbon offsetting practices as deeply ineffective and outlined the merits of a contribution approach in a white paper launched today.
This new methodology limits financial and reputational risks and adds moral weight to corporate climate programmes. This approach involves three complementary steps:
- Setting an internal carbon tax, as an effective solution to signal emission reduction at the source
- Use the funds generated by the tax to finance the contribution strategy, including financing direct and indirect reduction initiatives and purchasing carbon credits
- Building a meaningful portfolio of certified carbon projects that aligns with the business strategy and addresses local social and ecological needs
With this approach, an organisation can use the collected funds to invest in climate action. Sweep’s methodology effectively addresses the historical distrust of offsetting practices and how they have shifted the focus away from cutting emissions.
Renaud Bettin, VP of Climate Action at Sweep said: “It’s time to break free from contingent carbon neutrality claims and ensure the purchase of carbon credits is driven by impact and altruism. That’s how corporate and financial organisations can meaningfully contribute to building a just and inclusive low-carbon future.”
In the wake of COP27’s historic agreement on loss and damage and the urgency to achieve national net-zero targets, Sweep is calling for the rise of a generation of contributing companies, taking credible and transparent action to tackle the climate crisis.
To download the white paper, click here.
About Renaud Bettin
As Sweep’s VP of Climate of Action, Renaud has over 15 years of experience in the field of corporate climate strategy. Committed to helping businesses be a driving force to reach global net zero, he launched the Net Zero initiative reference framework for corporate carbon neutrality and carbon finance website Info Compensation Carbone. His thought leadership has been featured in Carbon Pulse and the World Bank’s Carbon Pricing Leadership Coalition.
Sweep helps businesses 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-focused design empower your staff and your entire value chain to grow a cleaner business. The platform also has an integrated marketplace, letting you contribute to exciting carbon reduction and removal projects around the world. And with all your data in one place, its analytics offer deep insights into your progress and automatic reporting to your stakeholders.
Sweep is B Corp certified and a member of the World Bank’s Carbon Pricing Leadership Coalition and The International Emissions Trading Association. Visit sweep.net to learn more.