However, nature-based solutions are not an alternative to geological storage and rapid decarbonisation of the economy.’ While carbon offsets can help to fund some of this work, nature-based solutions should be valued and funded for the broad suite of benefits they bring, now and into the future. Irrespective of any carbon benefits, scaling up the protection and restoration of ecosystems is vital. Professor Nathalie Seddon, Director of the Nature-based Solutions Initiative at the University of Oxford and co-author said, ‘High-quality nature-based offsets support biodiversity and enhance adaptation to climate-change whilst safeguarding the incomes and rights of local communities. We need carbon removals that scrub carbon directly from the atmosphere to counteract ongoing emissions.’ Creating demand for long-lived greenhouse gas removal and storage is vital, whether we like it or not, to reaching the Paris goals.’ĭr Fredi Otto, Associate Professor and Associate Director of the Environmental Change Institute at the University of Oxford and co-author said, ‘Most offsets available today are emission reductions, which are necessary but will not get and crucially keep us at net zero. Professor Cameron Hepburn, Director of the Smith School of Enterprise and the Environment and co-author said, ‘Adopting the Oxford Offsetting Principles and publicising their adoption can create the demand for offsets necessary to reach net zero emissions. The authors hope The Oxford Offsetting Principles will provide a key resource for the design and delivery of rigorous voluntary net zero commitments by government, cities and companies, and help to align work on credible offsetting around the world. The report also highlights the need for a credible approach to nature-based carbon offsets, such as forest restoration.
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