Carbon offset - Reducing Greenhouse Gas Emissions

Learn about greenhouse gases and how you can reduce your impact on the environment. 

Greenhouse emission offset

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What are Greenhouse Gases (GHG)? 

Greenhouse gases are those which trap heat in the atmosphere and contribute to global warming. The main greenhouse gases are carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O) as well as fluorinated gases such as hydrofluorocarbons, perfluorocarbons and sulfur hexafluoride. These gases are emitted from various sources, including human activities such as fossil fuel use, deforestation and industrial processe

Why should greenhouse gases matter to me? 

Conventional electricity is generated through the burning of fossil fuels and this process results in the release of GHG into the atmosphere. By using electricity, consumers indirectly contribute to these emissions.

How can I do my part for the environment? 

Apart from adopting energy-saving measures and/or reducing the amount of electricity used, you can also voluntarily offset your GHG emissions through the purchase and retirement of carbon credits. 

You can get a carbon neutral electricity plan with Geneco by opting for carbon credits upon signup.

What are carbon credits?

Carbon credits (or carbon offset) are credits for greenhouse emissions reduced or removed from the atmosphere by an emission reduction project, and which can be used by governments, industry or private individuals to compensate for the emissions they are directly and/or indirectly generating. 

There are different standards and types of carbon credits available. Geneco uses Verified Carbon Units (VCU) issued under the Verified Carbon Standard (VCS) Program.

What is the Verified Carbon Standard (VCS) Program? 

The VCS Program is the world’s most widely used voluntary GHG program. More than 1,300 certified VCS projects have collectively reduced or removed over 200 million tonnes of carbon and other GHG emissions from the atmosphere.

Projects developed under the VCS Program must follow a rigorous assessment process in order to be certified. These projects cover a diverse range of sectors, including renewable energy (such as wind and hydroelectric projects), forestry (including the avoidance of deforestation), and many others.

All VCS projects are subject to desk and field audits to ensure that standards are met and methodologies are properly applied. Projects are assessed using a technically sound GHG emission reduction quantification methodology specific to that project type. 

What are Verified Carbon Units (VCU)? 

Once projects have been certified, project developers are issued Verified Carbon Units (VCUs), with one VCU representing one metric tonne of carbon emissions reduced or removed from the atmosphere.

Purchasing and retiring these VCUs allow individuals and companies to offset their own emissions. Carbon neutrality is achieved when emissions are fully offset.

What is the role of the APX VCS Registry?

The APX VCS Registry supports the VCS Association’s objectives to provide credibility to the voluntary markets, as well as to enhance business, consumer, and government confidence. 

Geneco uses this trusted and secure platform for issuing, tracking and retiring Verified Carbon Units (VCUs). You can learn more about the registry here. 

How does Geneco’s carbon neutral electricity plan work? 

By purchasing a carbon neutral electricity price plan, Geneco will consolidate a consumer’s carbon emissions from the consumption of purchased electricity on a yearly (calendar) basis. At the end of each year, an equivalent amount (or more)* of VCUs will be purchased and retired on behalf of the consumer. The corresponding retirement certificates issued serve as validation of the carbon offset. This means that the consumer’s consumption of electricity is carbon neutral.

*The conversion rate from kilowatt hours of electricity consumed to corresponding metric tonnes of GHG emissions will be based on the National Environment Agency’s (NEA) latest published Grid Emission Factors.

What am I paying for in a carbon neutral electricity plan? 

You can purchase carbon credits through Geneco at an additional cost of S$0.005 per kWh, which will be reflected on your monthly bill. 

This cost consists of the:

  • Price of VCUs
  • Sourcing costs
  • Registry costs (transfer and retirement costs)
  • Other administrative fees