Coverhood Becomes Planet Positive
We are proud to become planet positive by having calculated and offset our climate footprint for 2018-2021 by 200%. The emissions were calculated across all three scopes following the Greenhouse Gas Protocol, which includes all business operations throughout the supply chain. By offsetting 200% of our total footprint, we ensured that we are not only carbon neutral, but actually planet positive. We chose to offset our footprint with the Climate Neutral Now initiative by the United Nations, which encourages everyone to take action to become climate neutral by 2050, as per the Paris Agreement. While measuring our carbon footprint, we learned many new terms, such as carbon neutral, carbon credits, offset projects, etc. Therefore, below you can read some of the most commonly asked questions about carbon measurement and offsetting.
What is carbon offsetting?
Carbon offsetting is a method to compensate for a company’s or individual’s CO2 emissions by contributing to climate-friendly projects. The total carbon footprint is offset by purchasing an equivalent amount of carbon credits in a project that reduces or captures CO2 from the atmosphere. Carbon offsetting is an effective tool to manage a company’s impact on the climate when coupled together with proactive efforts to reduce the footprint in the first place.
Where does the money go?
When a company offsets emissions with Certified Emission Reduction units (CERs), they take climate action through a process that is overseen by the United Nations. The purchased CERs are issued from trustworthy climate-friendly projects called Clean Development Mechanism (CDM) projects and are aiming to have a positive impact on local communities and economies.
Does carbon offsetting work?
Yes! By offsetting our emissions, we make sure the money generated contributes to initiatives that remove CO2 from the atmosphere. To make sure our impact is tangible, we offset 200% of the calculated footprint, which also ensures that any deviation is covered. This way not only we neutralize the emissions from our operations but we actually contribute to removing more CO2 that we produce.
Why is it important for us to be planet positive?
Climate change is the most urgent problem of our generation. We believe that companies and brands should take proactive action to make sure that our success today does not come at the cost of future generations. We hope this encourages other brands to join in and create a positive impact on the changing climate.
We offset with Salkhit Wind Farm
The Salkhit Wind Farm is the first grid-connected wind farm in Mongolia. The project generates renewable electricity using wind power resources and supplies it to the Mongolian central electricity system grid to meet the growing electricity demand. The project reduces greenhouse gas (GHG) emissions by avoiding CO2 emissions from electricity generation from fossil fuel power plants supplied to the Grid. The goal of the project is to generate clean electricity, reduce GHG emissions and contribute to the reduction of air pollutants by saving coal and water consumption compared to a business-as-usual scenario. Aside from this, it also provides local employment opportunities and creates local expertise in the renewable energy sector. Read more HERE.
What is next?
Carbon offsetting is only a small part of our sustainability strategy. Yet, we believe that businesses, no matter how small or big they are, have the responsibility not only to gain from their operations but also the responsibility to give back to the world. To help preserve and often better the environment in which their business is running. Considering this, we are greatly proud to be working on several different initiatives that include complete transition to sustainable materials for our products. An overall reduction of plastic that is used in our products and their lifecycle, including plastic that is used in packaging. Also, we work on partnerships with organizations that have a huge workmanship in recycling and preserving our environment such as Plastic Bank. Not only contribute to their activities but to cooperate in creating new products that would have essentially better impact in this world. We hope you will stick around and follow us on this journey.