Carbon Offset Credits, how do they work?

When you purchase Carbon Offset Credits through Racing Carbon Neutral you are supporting UNFCCC certified projects that reduce, avoid, or remove greenhouse gas emissions from the atmosphere. The projects are implemented in developing countries and are rewarded with Certified Emission Reductions (CER’s), a type of carbon offset measured in tonnes of CO2 equivalent.

Certified emission reductions (CERs) are earned by greenhouse gas (GHG) mitigation projects in developing countries after a rigorous verification process. By purchasing and cancelling CERs through our platform, you claim their environmental benefit. The CERs are put out of circulation, blocking them for further use. In this way, you are responding to the challenge of climate change and helping our society move closer to global climate neutrality (zero net impact on the climate). In addition, you are supporting worthy projects that bring sustainable development benefits to developing countries.

CERs are recorded and tracked in electronic databases know as emissions registries. The CERs purchased through our platform are recorded and tracked in the clean development mechanism (CDM) registry operated by the UN Climate Change secretariat. Voluntary cancellation, also referred to as cancellation, is the process in the CDM registry by which CERs are taken out of circulation, preventing any further use. It is similar to destroying them or marking them so they can no longer be used.

Certified emission reductions or CERs are electronic certificates issued for greenhouse gas emission reductions from clean development mechanism (CDM) project activities or programs of activities (PoAs) in accordance with the CDM rules and requirements. Each CER is equivalent to one metric tonne of carbon dioxide (CO2e) avoided or removed from the atmosphere.

The environmental benefit of CERs can be claimed to offset or compensate your own greenhouse gas emissions produced through your participation in Motorsport.