Contributed article by Xpansiv CFO Suzy Taherian
Buying offsets doesn’t mean companies stop pursuing other green initiatives. Carbon offsets offer a risk-management tool akin to buying fire insurance or hedging foreign exchange risk. CFOs purchase cybersecurity insurance, but that doesn’t mean they abandon strong cybersecurity policies, teams, and controls. Similarly, purchasing carbon offsets allows CFOs to reduce their companies’ immediate carbon footprints while continuing to advance other long-term strategies for technology innovations and operational improvements that reduce emissions.
The choice for many industries is to do nothing or to offset their carbon footprint while emission-abatement technologies are developed. Between “do nothing” and “do something,” the choice is clear.