NEOT compensates its business flight emissions
NEOT has compensated climate emissions resulting from its employees’ business flights by buying verified CO2-certificates from Puro, a Finnish auction-based carbon marketplace. Puro was launched in May 2019 and it’s the world’s first marketplace offering verified CO2-certificates to companies. At the moment Puro uses three methods to reduce carbon dioxide from the atmosphere; carbon is binded to carbonated and wooden building elements or as biochar produced from biomass or biowaste.
NEOT has acquired 65 CO2-certificates from the three auctions Puro has held so far. Each certificate represents 1 tonne of CO2 that has been removed from the atmosphere. The certificates purchased by NEOT equal 96% of the emissions resulting from the company’s business flights during 2018 (68 tCO2). These purchased certificates will be eliminated to compensate NEOT’s flight emissions.
”Climate emissions from our business flights are very small compared to the emissions resulting from the use of our products or our logistics operations, but every tonne of CO2 reduced from the atmosphere takes us forward. We strive to reduce our business travel emissions also by carefully evaluating the need for each trip, but some flights still need to be taken,” says Timo Huhtisaari, Sustainability Director, NEOT.
Puro’s first months in operation have shown that companies truly are interested in trading in the field of carbon binding and compensating emissions resulting from their operations. Based on the auctions organised so far it is also fair to state that carbon binding is a cost-efficient climate action compared to many other currently available climate measures.
“The average price for tonne of removed CO2 in Puro’s auctions has been EUR 20.68. This is significantly lower compared to the price of similar CO2 reduction achieved by, for example, using biofuels. The price of tonne of CO2 reduction achieved by using biofuels often rises to over EUR 200. Emission reductions are very important and working towards achieving them must be continued, but in addition, we need functioning carbon market. We hope that in the future all sectors will have binding targets for carbon removal and functioning carbon market, that will enable carbon removal as efficiently as possible both from the perspective of the economy as well as the environment,” says Timo Huhtisaari.
Read more about Puro from their website at www.puro.earth