CRH has a rich and multi-faceted Value Proposition, part of which is a Carbon Offsets Pipeline, which we fill at the front end via the implementation of CRH projects, and partner with others to market and monetize the resulting carbon offsets. The UN Clean Development Mechanism (CDM) created under the Kyoto Climate Change Protocol was a great success, but was also subject to excesses and in some cases outright abuses in CDM applications. Carbon reductions were often difficult to verify, and in many projects difficult to quantify under the categories of carbon reduction established (energy efficiency, fuel switching, etc.) The developed countries are now clear on the fact that a future framework beyond Kyoto will require greater rigor and transparency in permitting carbon mitigation projects to qualify.
A fundamental characteristic of CRH is that we are physical consumers of CO2. This means that our offsets are not occurring solely from reducing CO2 output (although we are doing that as well), or finding places to store it out of sight (such as in underground geological storage schemes), but rather, from the actual physical sourcing, use and consumption of CO2. As a result, CRH processes offer bullet-proofed methodologies for verifying and quantifying our impact on the CO2 balance, which makes our CO2 offsets transparent, concrete and, therefore easily certifiable. We feel our “high quality” carbon offsets are very valuable in a new world of carbon management where the bar is rising quickly for earning carbon credits. It is from this fact that we derive our description of VQC Carbon Offsets:
A final and powerful feature of our Carbon Offset Pipeline is that we will generate Double Carbon Credits. The first carbon credit stream is generated by the production of renewable energy. The second carbons credit stream comes from the net consumption of CO2 as a material feedstock to our CRH conversion processes. Double carbon credits combined with the high quality VCQ nature of the credits, makes for a winning approach to carbon offset generation.
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