There are a number of carbon offset programs being created to address the issues surrounding carbon footprints, which is the measure of the environmental impact of a particular individual or organization's lifestyle or operation, measured in units of carbon dioxide. The ideal solution would be to become Carbon Neutral, which is to balance the amount of carbon dioxide released into the atmosphere by a particular activity with an equal amount of carbon sequestration or carbon offsets from a third party. To be considered carbon neutral, an individual or organization must reduce its carbon footprint to zero.
In this move to become Carbon Neutral or to address reduction in individual or organization's carbon footprint there have been a number of third party "Carbon Offset" organizations established and joining forces with many organizations (carbon footprint creators) in the attempt to address the carbon footprints that exist. A carbon offset is a form of credit that an individual or organization can purchase to negate a carbon footprint, thereby achieving carbon neutrality. Revenue generated from the purchase of offsets is typically invested in environmentally friendly projects. The purchase of carbon offsets is a fast-growing industry in the wake of compliance legislation and the development of cap and trade systems. At present, almost all carbon offset programs are optional.
While the University takes the carbon footprint issue seriously, there are concerns as it relates to University money being invested with "Carbon Offset" organizations, and how this money is being directed to the Carbon Neutral initiatives. As a University we must evaluate and understand our carbon footprint and ensure that any University investment of money is applied appropriately. This being said, University funds are not to be used for the purchase of carbon offset credits. This is consistent with the University's policy on not making donations to other external charitable organizations as described in the Donations to External Entities - Policy #30.10.05.02
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