Achieving Carbon Neutrality in Maritime Industry - Investigating the possibility of complementing reductions by voluntary carbon offsetting with common reed
Urponen, Aino Anniina (2023)
Urponen, Aino Anniina
2023
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2023120333818
https://urn.fi/URN:NBN:fi:amk-2023120333818
Tiivistelmä
The aim of this thesis was to investigate benefits voluntary offsetting can bring to a company and discover if common reed (Phragmites australis) in the form of biochar could fit as a compensation tool to offsetting market. The commissioner of this thesis, operating in maritime logistics, is searching for ways to reduce emissions, and considering voluntary offsetting as one option for reaching carbon neutrality.
The theoretical framework of the thesis focuses on voluntary compensation markets in general and presents the current problems related to them with some suggested solutions to prevailing problems, and specially what are the minimum criteria for a good offset. For voluntary compensation there does not exist yet unified regulation, only recommendations. Credible and ethically correct emission offset should always be based on outcomes that fulfil the minimum criteria that is internationally set which includes aspects of additionality, solid baseline, robust calculation method, monitoring and reporting, stability, avoidance of carbon leakage, authenticity, transparency and certifiability, avoidance of double counting, and avoidance of significant harm.
The empirical part of the thesis was conducted as a qualitative case study with semi structured and in-depth interviews of experts in the field. The data analysis was conducted to themes related to potential of the common reed, its current problems and solutions suggested to these problems. Biochar from reed could be a good alternative unit to voluntary offsetting markets, but the price of the operation is currently too expensive being reasonable and there are problems related to the harvesting of common reed. But as legislation becomes easier and technology with innovation develops, there is much potential in the use of common reed. Reed biochar would not have the problem of double counting and additionality, like in domestic forest-related compensation projects. With the knowledge gained both from literature review and interviews, it meets the minimum criteria for good compensation in all aspects. By cutting common reed, nutrients are removed from sea and methane and CO2 emissions reduced, and in carbon sequestration the biochar remains in the ground in a permanent way. Therefor biodiversity perspective can be considered very highlighting in the matter of common reed. Climate neutrality reached by voluntary offsetting can be beneficial not only for the environment but for the company too to gain competitive advantage.
The theoretical framework of the thesis focuses on voluntary compensation markets in general and presents the current problems related to them with some suggested solutions to prevailing problems, and specially what are the minimum criteria for a good offset. For voluntary compensation there does not exist yet unified regulation, only recommendations. Credible and ethically correct emission offset should always be based on outcomes that fulfil the minimum criteria that is internationally set which includes aspects of additionality, solid baseline, robust calculation method, monitoring and reporting, stability, avoidance of carbon leakage, authenticity, transparency and certifiability, avoidance of double counting, and avoidance of significant harm.
The empirical part of the thesis was conducted as a qualitative case study with semi structured and in-depth interviews of experts in the field. The data analysis was conducted to themes related to potential of the common reed, its current problems and solutions suggested to these problems. Biochar from reed could be a good alternative unit to voluntary offsetting markets, but the price of the operation is currently too expensive being reasonable and there are problems related to the harvesting of common reed. But as legislation becomes easier and technology with innovation develops, there is much potential in the use of common reed. Reed biochar would not have the problem of double counting and additionality, like in domestic forest-related compensation projects. With the knowledge gained both from literature review and interviews, it meets the minimum criteria for good compensation in all aspects. By cutting common reed, nutrients are removed from sea and methane and CO2 emissions reduced, and in carbon sequestration the biochar remains in the ground in a permanent way. Therefor biodiversity perspective can be considered very highlighting in the matter of common reed. Climate neutrality reached by voluntary offsetting can be beneficial not only for the environment but for the company too to gain competitive advantage.