Launched in partnership with the Green Building Council of Australia, Carbon Offsets: Last but not later, is a framework to enhance the environmental credibility of offsets used in the property sector. The framework identifies a limited and declining role for offsets in the property sector with a ‘last, but not later’ approach where offsets are the final piece of the decarbonisation puzzle.
Applying the framework principles will ensure organisations in the property sector are equipped with the tools to reliably underpin credible, high integrity net zero claims. The principles of the framework have been designed to:
- Facilitate consistent and transparent communication of net zero emissions strategies
- Enable companies to document and communicate an offset strategy
- Encourage well-functioning carbon markets with deep and liquid trade in offset, and
- Provide a platform of advocacy to government to ensure policies and regulations support the earliest adoption of net zero buildings.
The framework has been guided by the Oxford Principles for Net Zero Aligned Carbon Offsetting, with input from members of the Property Council of Australia, the Green Building Council of Australia and technical specialists.