The UK Green Building Council (UKGBC) has published new carbon offsetting and pricing guidance for the built environment
The new guidance from UKGBC urges the construction industry to view carbon offsetting more comprehensively, accompanied by an ambitious approach to internal carbon pricing.
The publication sets out three levels of ambition the industry should work towards, with guidance to develop a pathway to adopt a leading approach:
- Minimum requirements
- Good practice
- Leading approach
The step-by-step process detailed in the guidance will enable practitioners to take a more holistic approach to carbon offsetting, which goes beyond the basic procurement of voluntary offset credit.
The new guidance also highlights how carbon pricing can be used as a mechanism to accelerate the decarbonisation of built assets and the wider industry.
The paper stresses the need for greater ambition when setting an internal carbon price
The cost of accredited carbon credits on the voluntary market does not accurately reflect the full societal and economic cost of emitting carbon into the atmosphere.
Yetunde Abdul, head of Climate Action at UKGBC, commented: “This guidance is crucial in equipping organisations seeking to accelerate the net zero transition to go beyond the procurement of voluntary credits to compensate for their residual emissions, towards a leadership approach which promotes social equity, restore ecosystems, and drive positive change within, and beyond, the built environment value chains.”
