Swiss Climate Objectives and Carbon Offsetting

Description

This lecture by the instructor covers the Swiss climate objectives and carbon offsetting strategies. It delves into the goal of achieving net zero greenhouse gas emissions by 2050, with a focus on reducing emissions and utilizing negative emission technologies. Specific sectoral targets for buildings, transportation, and industry are outlined, along with the inclusion of Scope 1, 2, and 3 emissions in reduction goals. The lecture also discusses adaptation goals to mitigate climate change impacts, financial objectives to align with climate goals, and the concept of carbon neutrality through carbon offsetting. It concludes with a critical analysis of different types of carbon credits and their implications for achieving carbon neutrality.

Official source

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Carbon accounting

Carbon accounting (or greenhouse gas accounting) is a framework of methods to measure and track how much greenhouse gas (GHG) an organization emits. It can also be used to track projects or actions to reduce emissions in sectors such as forestry or renewable energy. Corporations, cities and other groups use these techniques to help limit climate change. Organizations will often set an emissions baseline, create targets for reducing emissions, and track progress towards them.

Carbon emission trading

Emission trading (ETS) for carbon dioxide (CO2) and other greenhouse gases (GHG) is a form of carbon pricing; also known as cap and trade (CAT) or carbon pricing. It is an approach to limit climate change by creating a market with limited allowances for emissions. This can lower competitiveness of fossil fuels and accelerate investments into low carbon sources of energy such as wind power and photovoltaics. Fossil fuels are the main driver for climate change. They account for 89% of all CO2 emissions and 68% of all GHG emissions.

Carbon price

Carbon pricing (or pricing) is a method for nations to address climate change. The cost is applied to greenhouse gas emissions in order to encourage polluters to reduce the combustion of coal, oil and gas – the main driver of climate change. The method is widely agreed and considered to be efficient. Carbon pricing seeks to address the economic problem that emissions of and other greenhouse gases (GHG) are a negative externality – a detrimental product that is not charged for by any market.

Net zero

Global net zero is a state in which human-caused greenhouse gas emissions are balanced by human-caused greenhouse gas removals over a specified time period. When used in shorthand, net zero generally refers to the IPCC SR1.5 pathway for a 50% chance at limiting warming to 1.5 °C with no or limited overshoot, meaning approximately halving emissions by 2030 vs current levels and reaching global net zero by 2050. In the last few years, net zero has become the dominant framework for climate ambition with countries and organizations alike setting net zero targets.

Carbon offsets and credits

A carbon offset is a reduction or removal of emissions of carbon dioxide or other greenhouse gases made in order to compensate for emissions made elsewhere. A carbon credit or offset credit is a transferrable financial instrument (i.e. a derivative of an underlying commodity) certified by governments or independent certification bodies to represent an emission reduction that can then be bought or sold. Both offsets and credits are measured in tonnes of carbon dioxide-equivalent (CO2e).