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Carbon offset procurement
Management of risk in purchasing and retiring carbon offsets should drive the procurement strategy and is core to TEM’s value-add to our clients. Key risks that TEM expertly manage on behalf of our clients:
- Counter Party Risk: We undertake extensive due diligence on the project proponent and on any third-party transactions we provide transparency to the source of the credit supply and integrity of offset purchase.
- Price Risk: TEM has the systems and processes to manage the fluctuation and volatility in offset price over the term of the offset supply contract managed – on individual projects and across portfolios.
- Market Risk: TEM have the experience and capacity to understand the supply and demand dynamics of the different carbon markets to secure a predictable supply of offsets.
- Policy Risk: TEM tracks the changes to domestic and international government policy, standards, carbon markets and certification schemes that informs the future offset purchasing.
- Supplier Risk: As a specialist buyer of carbon offsets for our clients, TEM has the people, systems and processes in place to manage client risks and we operate under an AFSL.
Carbon offset projects
Types of carbon offsets
TEM delivers offsets from a diverse portfolio of premium carbon projects in Australia and around the world, accredited under internationally recognised standards.
Our carbon offset portfolio consists of eligible carbon offset units that have been assessed as meeting the Australian Government’s Climate Active Carbon Neutral Standard’s offsets integrity principles.
- Australian Carbon Credit Units (ACCUs) issued by the Clean Energy Regulator;
- Verified Emissions Reductions (VERs) issued by the Gold Standard;
- Verified Carbon Units (VCUs) issued by the Verified Carbon Standard;
- Certified Emissions Reductions (CERs) issued under the Clean Development Mechanism of the United Nations Framework Convention on Climate Change.
Frequently Asked Questions
Management of risk in purchasing and retiring carbon offsets should drive a company’s offset procurement strategy. TEM is the largest offset provider in Australia and the team has over 60 years combined experience in global carbon markets. We expertly manage the following risks on behalf of our clients:
• Counter party risk – We undertake extensive due diligence on the project proponent and on any third-party transactions we provide transparency to the source of the credit supply and integrity of offset purchase.
• Price risk – We have the systems and processes to manage the fluctuation and volatility in offset price over the term of the offset supply contract managed, on individual projects and across portfolios.
• Market risk – we have the experience and capacity to understand the supply and demand dynamics of different carbon markets to secure a predictable supply
• Policy risk – we track the changes to domestic and international government policy, standards, carbon markets and certification schemes that informs future offset purchasing
• Supplier risk – as a specialist buyer of carbon offsets, we have the people, systems and processes to manage client risks and we operate under an AFSL
A partnership with TEM delivers so much more than offsets. We thrive on nurturing a relationship that exceeds expectations by developing sophisticated, creative solutions that include bespoke marketing and communications content, strategic stakeholder engagement, consumer insights on sustainability and immersive offset project experiences.
One carbon offset represents one metric tonne of greenhouse gas emissions reduced or removed from the atmosphere. A carbon offset is created by either a) removing one tonne of emissions from the atmosphere by for example planting forests, or b) preventing one tonne of emissions from reaching the atmosphere by for example replacing a fossil-fuel burning power plant with a wind farm.
Carbon offsetting allows individuals and businesses to invest in environmental projects around the world in order to reduce their carbon footprint. Projects are most commonly designed to reduce future emissions, such as through clean energy technology or protecting ancient forests from being cleared.
One carbon offset is equal to one metric tonne of carbon dioxide reductions.
An activity, product or organisation is carbon neutral when its greenhouse gas emissions are equal to zero. To become carbon neutral, companies must rigorously calculate their emissions, reduce them as much as possible, then purchase and retire carbon offsets to the equivalent of the remaining emissions.
As planes fly they burn fuel that releases greenhouse gas emissions into the atmosphere. We have calculated the emissions for each flight available on Webjet, and as a passenger you can offset your share of these emissions. We then pass your offset contribution to verified carbon offset projects around the world that mitigate climate change, protect wildlife and nourish communities.
TEM only supports carbon offset projects that are verified at the highest international standards. Of course, it is critical to ensure that the emission reductions generated by these projects are actually occurring. This is the work of accreditors like the VCS Program and the Gold Standard to ensure that once projects have been certified against rigorous criteria, project developers can then be issued tradable carbon offsets.
We procure offsets from a diverse portfolio of international and domestic projects, including projects in every State/Territory across Australia and every continent in the world. All of our offsets are compliant under the Australian Government’s Climate Active Carbon Neutral Standard. Our projects are all accredited under a strict third-party verification standard. These standards have a rigorous set of rules and requirements to ensure each project delivers real, permanent, and additional benefits.
Additionality means that if the emissions reductions were not implemented by an offsetting project, then they would not have occurred anyway. This ensures that offset sales only finance projects that cause additional emissions reductions above business as usual. Simply put, because the carbon offset project exists, there are less carbon emissions entering or floating around the atmosphere than if the project did not exist.