JetOffsets, Inc. was born out of a need to contribute something positive back to our environment. Aviation has always been the leader in developing new technologies and we wanted aviation to be a leader in returning the environment to where it was when it began in 1903.
JetOffsets' mission is to be a driving force in the field of aviation as it leads the world in reducing harmful CO2 emissions by facilitating the expansion of new technologies that generate power through renewable sources. Our goal is to bring awareness to our industry of the harmful effects of CO2 and other greenhouse gases. We also aim to offer solid solutions by supporting advancements in aviation that improve fuel efficiency and promote alternative fuels or endorse carbon offsets.
WHAT ARE OFFSETS?
Offsets are a means by which to measure and take both economic and environmental responsibility for CO2 emissions.
A "carbon offset" is an emission reduction credit from another organization's project that results in less carbon dioxide or other greenhouse gases in the atmosphere than would otherwise occur. For example, wind energy companies often sell carbon offsets. The wind energy company benefits because the carbon offsets it sells make such projects more economically viable.
The idea behind offsetting is simple. Calculate your emissions and decide the quantity to offset as compensation for greenhouse gas emissions produced. The impact of the emissions on the environment and climate change are neutralized by investment in emission offsets -- in renewable energy projects.
Many types of activities can generate carbon offsets. Renewable energy such as the wind farms or installations of solar, small hydro, geothermal generators or biomass energy projects can all create carbon offsets by displacing fossil fuels. Other types of offsets available for sale on the market include those resulting from energy efficiency projects, methane capture from landfills or livestock waste, destruction of potent greenhouse gases such as halocarbons, and carbon sequestration projects (such as reforestation) that absorb carbon dioxide from the atmosphere.
Verification is often undertaken during a due diligence process in a buy/sell transaction. It provides independent assurance that actual or expected emission reductions have been/will be achieved from an emission reduction project during a specified period. The level of assurance provided will depend on the procedures undertaken by the independent verifier, the scope of which is usually agreed by the transacting parties and may include: assurance as to compliance with Kyoto/national regime requirements (however this will only be possible when such requirements are clearly defined), adequacy of measuring and monitoring systems for emission reduction credits, reviewing the operations of the underlying emission reductions project, etc.