Green Jetting!

 A carbon offset is a financial instrument aimed at a reduction in greenhouse gas emissions. Carbon offsets are measured in metric tons of carbon dioxide-equivalent (CO₂e) and may represent six primary categories of greenhouse gases.  One carbon offset represents the reduction of one metric ton of carbon dioxide or its equivalent in other greenhouse gases.

There are two markets for carbon offsets. In the larger, compliance market, companies, governments, or other entities buy carbon offsets in order to comply with caps on the total amount of carbon dioxide they are allowed to emit. In 2006, about $5.5 billion of carbon offsets were purchased in the compliance market, representing about 1.6 billion metric tons of CO₂e reductions.

In the much smaller, voluntary market, individuals, companies, or governments purchase carbon offsets to mitigate their own greenhouse gas emissions from transportation, electricity use, and other sources. For example, an individual might purchase carbon offsets to compensate for the greenhouse gas emissions caused by personal air travel. Many companies offer carbon offsets as an up-sell during the sales process so that customers can mitigate the emissions related with their product or service purchase (such as offsetting emissions related to a vacation flight, car rental, hotel stay, consumer good, etc.). In 2008, about $705 million of carbon offsets were purchased in the voluntary market, representing about 123.4 million metric tons of CO₂e reductions.

Offsets are typically achieved through financial support of projects that reduce the emission of greenhouse gases in the short- or long-term. The most common project type is renewable energy, such as wind farms, biomass energy, or hydroelectric dams. Others include energy efficiency projects, the destruction of industrial pollutants or agricultural byproducts, destruction of landfill methane, and forestry projects.  Some of the most popular carbon offset projects from a corporate perspective are energy efficiency and wind turbine projects.

Carbon offsetting has gained some appeal and momentum mainly among consumers in western countries who have become aware and concerned about the potentially negative environmental effects of energy-intensive lifestyles and economies. The Kyoto Protocol has sanctioned offsets as a way for governments and private companies to earn carbon credits which can be traded on a marketplace. The protocol established the Clean Development Mechanism (CDM), which validates and measures projects to ensure they produce authentic benefits and are genuinely “additional” activities that would not otherwise have been undertaken. Organizations that are unable to meet their emissions quota can offset their emissions by buying CDM-approved Certified Emissions Reductions.

Offsets may be cheaper or more convenient alternatives to reducing one’s own fossil-fuel consumption. However, some critics object to carbon offsets, and question the benefits of certain types of offsets.

Offsets are viewed as an important policy tool to maintain stable economies. One of the hidden dangers of climate change policy is unequal prices of carbon in the economy, which can cause economic collateral damage if production flows to regions or industries that have a lower price of carbon – unless carbon can be purchased from that area, which offsets effectively permit, equalizing the price. Global Exec Aviation is a private jet air carrier currently offering carbon offsets to their clients when they fly. Contact their professionals at: 1-562-424-0663 for more information!

Carbon dioxide emissions from the aviation sector are expected to fall this year, an industry expert has revealed.

Paul Steele, executive director of the Air Transport Action Group (ATAG), said that there is a prevailing opinion in Britain that emissions from flights are constantly going up.

He claimed that this is not the case and also highlighted the fact that aviation is an important driver of economic activity around the world. “In the current environment, due to economic downturn, we are expecting aviation emissions to fall this year and possibly below 2005 levels,” Mr Steele said.

The ATAG director also argued that more attention should be paid to other industries that are responsible for harmful emissions, claiming that aviation is a victim of its own prominence.

‘The aviation sector is quite high profile and it is very visible in terms of a service. There are many other industries that produce a greater amount of CO2 than aviation, whose emissions are also growing,’ he said. Ahead of a United Nations conference in Copenhagen in December, the British government has been advised by the Committee on Climate Change to cap aviation emissions as part of a global environmental agreement.

Members of Hollywood Jets are already contributing lowering aviation emissions by “Green Jetting.” By utilizing newer, fuel efficient aircraft and noise friendly aircraft, Hollywood Jets members are doing their part. For more information on “Green Jetting” contact member services at 1-877-303-6660 or visit www.HollywoodJets.com.