QMU Net-Zero Strategy : Off-Setting
Offsetting should be seen as a last resort for residual emissions where all other possible action has been taken using the principles of the Carbon Management Hierarchy of avoid, reduce, replace and offset.
Off-setting of residual Scope 1 & 2 emissions will only be triggered at the net zero date with a target that these are no more than 10% of 2020 emissions. The primary focus of expenditure before the net-zero date will be on direct investment in decarbonisation linked to the campus as opposed to offsetting.
A different approach to off-setting is likely to be required in relation to Scope 3 emissions and earlier introduction of off-setting polices and associated costs could incentivise changes in approach. This will be determined following analysis of the further Scope 3 screening study.
In the short-term offsetting will not be utilised unless it is a direct requirement of a particular funding stream. Where this is required only schemes which meet stringent and robust assurance requirements will be utilised.