Carbon offsets will be purchased for the greenhouse gas emissions that Council can’t eliminate.
Net zero is achieved through balancing a measured amount of emissions released with an equivalent amount sequestered or offset. Offsets must be purchased every year and represent a continuing investment.
The less we reduce our emissions the more we will pay annually in offsets.
According to our Emissions Reduction Plan (2021), if we took no action to reduce emissions our carbon offsets could cost between $146,000-$255,000 per annum. This is based on AUD 2020 prices and depends on the total emissions being offset in addition to the location of offsets. Local/national offsets are more expensive compared to international offsets. International and national carbon credits are expected to increase in price in future years.