Would the money not just have been better spent on work to reduce your absolute emissions?
Offsetting our carbon footprint while we work to reduce our absolute emissions allows us to take immediate climate action. What’s more, financing climate action projects through carbon offsetting has many social co-benefits: Depending on the project, offset programs help people in the developing world upgrade technologies and improve their lives and livelihoods. For example, access to better healthcare, jobs and education programmes – these changes improve people's quality of life as well as the environment.
We are confident that this is the right approach to ensure our business is taking its commitments seriously in the immediate term, placing us on a strong foothold to achieve our SBTs and Net Zero ambition. We also know that the challenges in relation to reducing our scope three emissions will take time as well as investment and therefore we want to ensure that we are doing all that we can do now to reduce the impact we are having on the climate. Much of the impact we will require to reduce our absolute emissions will come from engagement with our supply chain and stakeholders, embracing innovation as well as collaboration within the sector to effect change, rather than just financial investment.