Going carbon neutral is about supporting projects that are reducing our net global greenhouse gas output. Protecting and restoring forests or other natural carbon sinks ensures that carbon continues to be captured and sequestered naturally while enhancing biodiversity and protecting habitat. Other offset projects accelerate the adoption of clean technologies beyond business as usual, pushing the envelope and creating rapid change, which is needed to mitigate future emissions.
Synergy's carbon neutral standard is built on three key principles:
1) The carbon footprint to be offset must be complete and accurate. The inventory must adhere to the standards of the GHG Protocol, have been completed or reviewed by a qualified GHG accounting professional within the last two years, and it must include all scope 1, 2 and material (>5%) scope 3 emissions.
2) The company must set a GHG reduction target. Targets must define a baseline year and a completion date (e.g. 50% reduction by 2030, compared to the 2015 baseline), and must be formally adopted by company leadership. Ideally, the target is in line with science based targets and shared publicly.
3) The offset project must meet best practice standards. This includes additionality (would not occur without the funding provided by offsetting), permanence, retired and no leakage( no negative downstream impacts). Any projects verified by a globally recognized standard (Gold Standard, VER+, etc.) will be accepted. At Synergy, we also understand that many local or regional projects are not large enough to justify rigorous verification. Upon request, Synergy will review carbon reduction projects for additionality, permanence, and leakage to endorse their validity and positive impact.
