We work with bp’s Low Carbon Trading team which ensures that the projects from which we purchase carbon credits meet robust, industry standards so that we know the carbon reductions or emissions avoided are real, unique, permanent and would not have happened without the project being developed. We work in-accordance with the International Carbon Reduction and Offset Alliance (ICROA) Code of Practice which sets out standards for offset inclusive carbon management.
The Low Carbon Trading team also assesses the projects by reference to each project’s social, economic and environmental contributions – these are known as ‘co-benefits’ and are reviewed using the United Nations 2030 Sustainable Development Goals (the SDGs). The SDGs provide an international blueprint for ”peace and prosperity for people and the planet” that recognizes that ending poverty must go hand-in-hand with strategies that improve health and education, reduce inequality, and spur economic growth – all while tackling climate change and working to preserve our oceans and forests.
The bp Target Neutral portfolio for 2021 includes carbon reducing initiatives across China, Mexico and India. We will be adding more projects as the year progresses.
And behind each project is a remarkable story of human progress assisted by your efforts to tackle carbon.
The bp Low Carbon Trading Team oversees the bp Target Neutral portfolio, drawing on the experience within the team from more than 17 years of experience in the compliance and voluntary carbon markets.
The team has experience of project development, conducting offset project third party assurance services and experience of working for a program secretariat registering projects and issuing credits.
The team’s extensive project development experience includes renewables, landfills, cookstove distribution, waste heat recovery, agriculture and energy efficiency. The team is also active in Natural Climate Solutions projects in more than 10 countries and has supported the delivery of over 50 million tonnes of forestry offsets on behalf of bp.
Each project includes approximately 13,800 improved cook stoves which translates into a reduction of 40,000 tCO2e per year
By supporting the Zhaoyuan Zhangxing Wind Project, bp Target Neutral is investing in a project that reduces carbon in the atmosphere and at the same time improves local air quality
There is widespread use of fuels such as kerosene for lighting which is inefficient and expensive and brings health risks and environmental impacts