Wade Spring’s Carbon Offsetting Strategy

Introduction: Carbon neutrality is a significant environmental goal, defined as a state where there is no net increase in the global emissions of greenhouse gases resulting from the emissions associated with a specific subject during a specified period. Wade Spring, a company committed to environmental responsibility, embarked on a journey to achieve carbon neutrality, guided by British Standard Institution PAS 2060:2014.

Scope Boundaries: In the pursuit of carbon neutrality, PAS 2060 and Blue Marble Certification require the inclusion of Scope 1 and 2 emissions, with Scope 3 emissions encouraged but not mandated. Wade Spring acknowledges the challenges of controlling all Scope 3 emissions and the potential cost burden associated with offsetting. Consequently, the company prioritizes investments in reducing its Scope 1 and 2 emissions over purchasing offsets.

However, Wade Spring recognizes that some Scope 3 emissions are controllable and accurately measurable. As part of its commitment to environmental stewardship, the company chose to offset the following Scope 3 emissions:

• Waste Generated in Operations
• Transmission and Distribution Losses
• Business Travel
• Employee Teleworking / Remote Working

Wade Spring’s dedication extends beyond these categories, encompassing additional activities such as fuel and energy-related activities (including well-to-tank emissions), upstream transportation, and purchased water.

Carbon Neutral Subject: The subject of carbon neutrality for Wade Spring includes all Scope 1 and 2 emissions and selected Scope 3 emissions, categorized in alignment with the GHG Protocol. Here are the assessed emissions in tonnes of CO2e:

• Scope 1: 218.8 tonnes CO2e (Company Controlled Vehicles, Onsite Fuel Usage)
• Scope 2: 70.97 tonnes CO2e (Location-Based Emissions from Purchased Energy – Electricity)
• Scope 3: 102 tonnes CO2e, comprising various categories including Purchased Goods and Services, Fuel and Energy Related Activities, Upstream Transport and Distribution, Waste Generated in Operations, Business Travel, and Employee Commuting and Homeworking.

Offsetting Strategy: To achieve carbon neutrality for the identified subject, Wade Spring calculated a total offset requirement of 392 tonnes CO2e. This offsetting strategy involves investing in the Uzundere I 63.0 MW Hydroelectric Power Plant Project in Turkey, which adheres to the VCS standard. The project contributes to emissions reduction, aligning with Wade Spring’s commitment to environmental sustainability.

Conclusion: Wade Spring’s pursuit of carbon neutrality is grounded in a comprehensive understanding of its carbon footprint, as defined by PAS 2060. By prioritizing emissions reduction within its direct control and offsetting where possible, the company demonstrates its commitment to environmental stewardship. The selected Uzundere I Hydroelectric Power Plant Project reflects Wade Spring’s dedication to supporting initiatives that contribute to a more sustainable future while achieving its carbon neutrality goals.