"Carbon offsetting provides opportunities for individuals and businesses to actively manage the impact of their carbon emissions on climate change. Wellbeinggreen provides a facilityAn activity, or a series of activities (including ancillary activities), that involve the production of greenhouse gas emissions, the production of energy or the consumption of energy and that form a single undertaking or enterprise and meet the requirements of the National Greenhouse and Energy Reporting (NGER) Regulations. for carbon offsetting through the voluntary surrenderIn an ETSAn ETS is an organised system of emissions trading that can be applied within businesses, states, countries and also internationally. Through an ETS an organisation is allocated an allowance for the amount of greenhouse gases it is permitted to produce. These systems allow those who reduce emissions beyond their obligations to sell their excess emission capacity to others within the ETS who are unable to meet their own emission reduction targets. There are two broad types of emissions trading schemes, cap and trade and baseline and credit., countries or businesses are allocated carbon credits or permits, usually for a designated time frame. They must then surrender one carbon credit for each tonne of carbon dioxide equivalentA standard measure that takes account of the different global warming potentials of greenhouse gases and expresses the cumulative effect in a common unit. (CO2eCarbon dioxide equivalent. In order to compare emissions between the six Kyoto Protocol greenhouse gases they have been assigned a global warming potential (GWP) measured in carbon dioxide equivalents to reflect their influence on warming the atmosphere. GWP is a relative scale, where CO2 = 1. The other gases are given a number based on their effect on the atmosphere relative to CO2. For example, methane has a GWP of 21, meaning it has 21 times the amount of heating capacity of CO2.) emitted within the relevant time frame. This ensures the credits are not double-counted. of carbon credits created by energy efficiencyEnergy efficiency improvements refer to a reduction in the energy used for a given service (heating, lighting, etc.) or level of activity. Such savings are generally achieved by substituting technologically more advanced equipment to produce the same level of end-use services (e.g. lighting, heating, motor drive) with less electricity. and renewable energy activities.
Carbon credits can be voluntarily surrendered for any reason, for example:
• to offset greenhouse gas emissions;
• to reduce greenhouse gas emissions; or
• to encourage additional generation of electricity from renewable sources.
The surrender of one carbon credit is equivalent to the abatementA reduction in the amount or intensity of greenhouse gas emissions as a result of actions taken by a company or individual. of one tonne of carbon dioxideA greenhouse gas that is produced as a by-product of oil and gas production, burning fossil fuels and biomassBiomass is non-fossilized and organic biodegradable material that can be used as fuel or for industrial production. Most commonly, biomass refers to plant matter grown for use as Biofuels, but it also includes plant or animal matter used for production of fibres, chemicals or heat. Biomass may also include biodegradable wastes that can be burnt as fuel. , as well as from all animals, plants, and a number of other natural sources. Carbon dioxide is the principal anthropogenic greenhouse gas that affects the earth’s temperature..
Credits accepted by the regulatory authorities for voluntary surrender are permanently removed from the market and cannot be transferred to another party or be used to discharge a mandatory liability under the relevant Act.
Wellbeinggreen creates and trades credits derived from activities which meet the requirements of Commonwealth and State government energy efficiency, renewable energy and carbon reduction schemes. Wellbeinggreen helps support businesses’ and individuals’ energy efficiency initiatives through the provision of assistance and advice. Wellbeinggreen is proud to be actively involved in environmental programs that help reduce greenhouse gas emissions. "