UNDER THE RADAR Bruce McKeever, gco2IF YOU'RE feeling guilty about the effects on the planet of your latest flight to the sun, you don't have to spend your autumn planting trees in the garden to ease your conscience. A new Irish company is offering a service that means that most individualscan neutralise their carbon footprint for less than €200 per year.
Gco2 is a scientifically based carbon offset provider and carbon management company offering a full service, voluntary, carbon offsetting and advisory service. It helps both individuals and organisations to achieve carbon neutrality through measuring, reducing, then offsetting carbon emissions.
"Many people mistakenly think that carbon offsetting is the sole responsibility of the Government," says Bruce McKeever, managing director of gco2, the firm he set up with fellow directors Charlie Hyland and David Allen.
"The Governmental commitments under the Kyoto protocol are only a start. Every person has responsibility to reduce their carbon footprint, and this must be done quickly now that the very obvious effects of climate change are upon us. Gco2 offers customers a full service, which allows them to inform themselves, measure their liability and reduce emissions where they can.
"As they subsequently offset the remaining emissions, they can do so satisfied that they are using measurable, additional and verified projects."
Some industry commentators predict carbon will be the world's biggest commodity market. There has been a dramatic recent rise in carbon trading, and global carbon markets are anticipated this year to reach a volume of 4.2 billion tonnes, a value of around €100 billion.
Gco2 operates in the voluntary market, which is anticipated to grow to between 380 million and one billion tonnes of offset emissions by 2012, equivalent to a market value in excess of $1 billion (€700 million). However, gco2's initial targets in this market are more modest.
"We have a three-year plan where we would want to achieve up to one million tonnes of offsets," says McKeever. With a charge of around €10 per tonne plus VAT, the company should be doing business of around €1 million to €1.2 million by year three.
But the company is not only targeting conscientious individuals. Its service will be available to businesses that want to reduce their carbon footprints. "We will choose the most appropriate auditor to go into a company that is a client of ours and they will measure the carbon footprint of the company on site and provide recommendations on how to reduce that carbon footprint through energy efficiency, alternative energy, and will come up with a carbon offset programme for them to become carbon neutral."
And for those business owners who think being carbon neutral is only for sandal-wearing tree-huggers, McKeever argues that there is a genuine business case for reducing emissions. "Many companies make savings even after they pay for the offsets because there would be dramatic reductions in terms of costs and from improving energy efficiency - in some cases up to 50 per cent. It makes better sense. Not only will they make cost savings, they will also improve their competitiveness."
Being a good corporate citizen also pays off in the battle to win customers. "Climate change is very important. Everybody wants to make an effort to combat it; consumers will be happy to use products and services from companies that are making a difference and taking leadership in the fight against climate change."
Gco2's directors have been researching this market for more than two years and between them have ploughed €250,000 into setting up the business. The firm also has secured an exclusive joint venture partnership with FCStone Carbon, LLC, part of the Nasdaq-listed FCStone Group.
McKeever says that this partnership helps gco2 to provide its clients with the highest quality carbon offset projects at the most competitive prices available. All gco2 projects are in line with UN-approved methodologies, located in the developing world and scientifically measured, independently verified and additional - which means they would not have happened without carbon credit funding, says McKeever.
"We take a small margin out of the offsets that we make. We are a commercial enterprise. As a business model it needs to be robust in order to keep the programme running effectively. As consciousness of climate change and personal responsibility grows, we anticipate that gco2 will play a major part in Ireland's campaign to reduce carbon emissions."
