Sweep Releases New Methodology That Revolutionizes the Use of Carbon Credits and Helps Companies Prioritize Emissions Reduction Actions
In the wake of COP27 and the review of offsetting practices, Sweep is pioneering a contribution method to turn carbon credits into an asset for corporate climate programs.
LONDON, November 29, 2022–(BUSINESS WIRE)–Sweep, the leading carbon management and reduction platform, has called traditional carbon offsetting practices deeply ineffective and highlighted the merits of a contributory approach in a published white paper today.
This new methodology limits financial and reputational risks and gives moral weight to corporate climate programs. This approach involves three complementary steps:
Implement an internal carbon tax, as an effective solution to signal the reduction of emissions at source
Use the funds generated by the tax to finance the contribution strategy, including the financing of direct and indirect reduction initiatives and the purchase of carbon credits
Build a meaningful portfolio of certified carbon projects that align with business strategy and meet local social and ecological needs
With this approach, an organization can use the funds raised to invest in climate action. Sweep’s methodology effectively addresses the historical mistrust of offset practices and how they have distracted attention from reducing emissions.
Renaud Bettin, VP Climate Action at Sweep said: “It is time to free ourselves from possible claims of carbon neutrality and ensure that the purchase of carbon credits is driven by impact and altruism. This is how businesses and financial organizations can meaningfully contribute to building a just and inclusive low-carbon future.
In the wake of the landmark COP27 loss and damage agreement and the urgency to achieve national net zero targets, Sweep calls for the rise of a generation of contributing businesses, taking action credible and transparent to tackle the climate crisis.
To download the white paper, click on here.
About Renaud Bettin
As Sweep’s Vice President of Climate Action, Renaud has over 15 years of experience in corporate climate strategy. Committed to helping businesses be a driving force in achieving global net zero, he launched the Net Zero Initiative Framework for Corporate Carbon Neutrality and the 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 be businesses forever.
The data-driven platform makes it easy to understand, manage and reduce your carbon footprint. Powerful collaboration features and user-centric design empower your people and your entire value chain to grow a cleaner business. The platform also has a built-in 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 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 scan.net to learn more.
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