Plant Services - May 2008 - (Page 70) energy eXPerT Stashing CO2 Making sense of carbon sequestration and offsets T The logic is clear. A reduction is a reduction, whether it’s his column has stressed the potential we have to imachieved at Site A or Site B. The only condition is that the prove industrial energy efficiency. When combined offset project actually delivers the carbon reduction. with measures aimed at reducing greenhouse gases, From a business point of view, the choice of offsets can be adding renewable energy and cogeneration, most greenanother source of competitive advantage. The first obvious house reduction targets can be met or exceeded. Beyond place to look is in a company’s operations, nationally or inthat, companies are increasingly looking at so-called carbon ternationally, for qualifying cost-effective projects that meet offsets to meet future reduction obligations, whether reguthe required emissions reductions. This brings us back to the latory or voluntary. need for effective global understanding and management of Carbon sequestration is a fancy word for isolating mana company’s own carbon footprint. The next made greenhouse gases to prevent their replace to look will be in the facilities of key lease. We’re hearing a lot about sequestration from the electrical generation industry, more From a businesss suppliers and customers. What better way to meet emissions targets than by making your in the context of future possibilities than curpoint of view, suppliers or customers more competitive? This rent realities. Around the world, there are a the choice of highlights the importance of understanding few scale projects to develop power plants that offsets can be the entire energy value chain of the business, capture and compress the vast amount of caranother source from raw material to final consumption. bon dioxide they produce and store it for eterYet another area to seek out offsets will be nity in underground geological formations. of competitive in projects such as large-scale forestation in It’s a long way from being ready for prime advantage. places associated with the company’s facilitime, but carbon capture and storage probably ties. This won’t only be a clear demonstration will be a part of the planet’s carbon-management of being a good neighbor; it will be easier to control the strategy. If successfully deployed, it will inevitably increase quality and effectiveness of the project. It also will be an atthe cost of electricity derived from higher-carbon fuels. This tractive source of volunteer opportunities for employees. underscores the need to understand the direct and indirect If none of these choices offers suitable offset opportunisources of greenhouse gases from your energy uses, and to ties, there’s a growing pool of brokers who are consolidating be ready to manage the effects on cost. emissions-reductions projects and selling qualified offsets. Geological sequestration won’t be an option for most The buyer would be well advised to research these carefully, companies, but nature gives us a way of storing carbon that because many might not be as rigorous as they should be is proven, immediately available and measurable: large-scale when it comes to selecting and auditing projects. Make sure reforestation. The value of forests goes far beyond absorbing the brokers are following the rules that will be acceptable greenhouse gases. They stabilize land and prevent erosion, under current and future laws. reduce flood risks, produce local microclimates and ecosysOffsets are a valuable way to contribute to global climate tems and, in time, provide valuable raw materials. Supportmitigation. Offset projects can directly enhance the overall ing forest-based sequestration will become a popular way to business without going to the brokered offset marketplace. contribute to companies’ carbon-reduction obligations. However, a disciplined focus on site productivity is likely to Most current and planned climate laws recognize that yield years of compliant reductions, allowing you time to it might be more cost-effective to meet greenhouse gas redevelop a structured, long-term offset strategy that delivers duction targets by supporting carbon-reduction projects maximum business and environmental gains. elsewhere than onsite. As an example, the new LiebermanWarner Act working its way through Congress allows emitters to meet a significant part through balancing reductions, Peter Garforth is principal of Garforth International LLC, Toledo, or offsets, in other U.S. domestic or international projects. Ohio. He can be reached at garforthp@cs.com. www.PLANTSERVICES.com May 2008 70 http://www.PLANTSERVICES.com
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