New report shows academic institutions taking the lead for a greener future
The American carbon offsetting market has had 42 institutions of higher education contribute an estimated 1 per cent of the domestic carbon offsetting market, AlliedOffsets found in its most recent report.
Renewable energy projects are the most popular among American higher education institutions, accounting for 75 per cent of credits retired. By investing in renewable energy, institutions limit their carbon footprint while channeling funding to green projects in the country, encouraging job growth and additional investment.
The report discusses which American universities are leading the way in offsetting their emissions, with a spotlight on the University of Illinois Urbana, which leads the way with over 400,000 credits retired to date, an estimated 7.5 tonnes of carbon retired per student annually. Ball State University follows with over 180,000 credits, an estimated 6.8 tonnes of carbon retired per head.
The report takes a close look at campus based energy efficiency projects and compares insight from several experts on university sustainability efforts. This is the second in a series of reports on carbon offsetting projects around the world. AlliedOffsets was created in 2020 by its parent firm AlliedCrowds in order to explore climate financing and to increase transparency in the carbon offsetting market.
Key stats:
- University of Illinois Urbana - Champaign leads the sector with over 400,000 credits retired to date, which is an estimated 7.5 tonnes offset per student body
- Renewable energy projects are the most popular amongst institutes of higher education
“AlliedOffsets evaluates the trends and incentives in American institutes of higher education, allowing participants to understand the role education plays in the carbon offsetting market and promote positive change.” Lars Kroijer, Managing Director
“It’s part of our mission to educate not only our own, but others as well. Our responsibility is to help other institutions of higher education understand offsets and think through how to use them effectively and responsibly.” Matthew Arsenault, Program Director of DCOI
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