Global climate change is becoming an ever more real problem and is now fully recognised as one of the main threats facing the international community. New studies on the socio-economic effects of climate change indicate the need for resolute action [Stern report]. There is no longer any doubt that anthropogenic greenhouse gases are one of the most significant causes of global warming [ipcc].

 

The concentration of greenhouse gases in the atmosphere has increased immensely since the beginning of the industrial revolution. One of the largest, proven drivers of global warming is carbon dioxide emissions from the burning of fossil fuels. CO₂ levels today are the highest in over 650,000 years.

 

Attempts to reduce these emissions, particularly those from fossil fuel combustion, have been undertaken on many levels. Laws, directives and thresholds for emission levels have been enforced and incentives have been set up for companies to invest in cleaner technologies (like the European Emissions Trading Scheme).

 

Alongside these regulatory instruments, voluntary climate protection measures are taking more and more significance. Stakeholders (clients, investors, rating-agencies, environmental organisations etc.) require companies to publish their climate-relevant emissions and identify savings. Some companies are going a step further by balancing out unavoidable emissions and can consequently brand themselves as a carbon-neutral enterprise.