Consideration of Nature-Based Solutions as Offsets in Corporate Climate Change Mitigation Strategies
Many companies are beginning to incorporate nature-based solutions (NBS) in their climate mitigation strategies to offset fossil fuel emissions. At the same time, financing of NBS is an essential and urgently needed component of society’s transition to net-zero emissions. This paper describes the opportunities and risks associated with using NBS as offsets, focusing on the environmental and social integrity of demand-side purchases and supply-side emissions reductions and removals. As the rules surrounding the use of NBS as offsets continue to be debated in multiple policy arenas and voluntary initiatives, companies can take steps now to build confidence in the use of NBS as offsets by implementing ambitious strategies for abating their own emissions and signaling demand for high-quality NBS emissions reductions and removals credits.
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