As electric companies and combined electric and natural gas utilities develop strategies and make plans to reduce their future greenhouse gas (GHG) emissions, some are considering the role that GHG emissions offsets may play in assisting them to meet their short, mid, and long-term decarbonization and “net zero” goals. In some cases, these companies may be considering developing GHG emissions offsets projects themselves, and/or buying approved GHG emissions offset credits generated by third-party developers. Incorporating GHG emission offsets into a company’s decarbonization strategy is a complex undertaking, requiring a breadth of knowledge about GHG emission offset project development, market structures, and the various ways in which offsets can be used to complement broader decarbonization goals.
This report is a compendium of briefing papers and Frequently Asked Questions (FAQ) developed to support a series of webcasts EPRI hosted in 2022 as part of an EPRI supplemental project on Exploring the Role of Greenhouse Gas Emissions Offsets to Achieve Corporate Decarbonization Goals. This technical transfer project was designed to improve participants’ understanding of the technical aspects of GHG emissions offsets, including key characteristics of offsets and existing and evolving offsets crediting programs and markets and explore strategies to communicate more clearly and effectively about companies’ use of GHG emissions offsets; and provide a technical forum, guided by EPRI experts, for participants to discuss opportunities and challenges related to using offsets in company decarbonization strategies.
Authors Adam Diamant