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20 May 2011 11:05:24

Financial sector leads the way on carbon offsetting

A new report has revealed that just 0.1% of the 2.8 billion tonnes of carbon emissions created by the FTSE 100 list of companies are being offset, with the financial sector leading the way with voluntary carbon offsetting.

But companies in other low and medium carbon intensity sectors need to follow suit if the FTSE 100 is to make a significant step towards reducing its total volume of carbon emissions, says the report.

The report also reveals that only two thirds of companies are clearly communicating the use of third party standards in carbon offsetting. Of the 21 companies that are carbon offsetting, 14 are in the financial sector and 61% of financial companies in the FTSE 100 are carbon offsetting at least a portion of their carbon emissions.

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