Compensation means that CO₂ emissions can be offset by a climate protection project somewhere else in the world.
The Paris Climate Agreement aims at climate neutrality by 2050, that means a balance between additional CO2 emissions and their depletion in sinks - an ambitious goal. Therefore it is absolutely essential to use all possible instruments that lead to CO2 reduction. Everybody's action counts!
Offsetting emissions begins whenever a business meeting can’t be replaced through a phone or video conference, or an unavoidable business trip involves air travel. Businesses and consumers can offset unavoidable CO₂ emissions by paying for them. For instance, anyone dependent on flying can compensate emissions through greenmiles.
Compensation has several positive effects. On the one hand, it raises consumers’ awareness of their activities and the emissions they generate. On the other hand, compensation projects have a positive effect on sustainable development in partnership countries, strengthening local sustainability pathways. For example, it is far better for the climate when growing economies turn rapidly to renewable energies – without taking the coal detour.
Compensation means that wherever and whenever we cannot avoid greenhouse gas emissions, we must take responsibility for them through a financial payment. Emissions therefore gain a certain price. That funds measures to reduce emissions – measures that would either be impossible to see through without financial support or that would otherwise not go into effect until a much later time.
The basis for offsetting is the calculation of CO₂ emissions from business activities and processes. Companies can pay for emissions by investing in CERs (carbon credits). greenmiles purchases a determined amount of premium quality and internationally recognized carbon credits and then rips them up. In this way, greenmiles guarantees that a project’s CO₂ reduction is used only once to offset emissions. A key aspect of such projects is their additionality, which means that the project in question would not have been carried out without the cash flow coming from the sale of carbon credits. Finally, the company that purchased the CERs receives a certificate verified by TÜV NORD as proof of CO₂ compensation.
greenmiles uses top quality CDM and Gold Standard projects to offset greenhouse gas emissions. The voluntary climate protection payment for offsetting CO₂ (one carbon credit corresponds to one ton of CO₂ equivalent) goes directly toward projects around the world that mitigate climate change involving, for example, wind power generation in New Caledonia or solar heating in South Africa. Not least, these projects bring added value to the region and foster additional positive economic and social effects.
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