Carbon offsetting
To mitigate greenhouse gas emissions generated by mecu's operations and to meet goGreen® Car Loan offset commitments, mecu is undertaking revegetation works at mecu's Conservation Landbank. Trees are being planted to sequester carbon in accordance with a land management plan developed and implemented by Landcare CarbonSMART.
mecu forward credits offsets (tonnes greenhouse gas equivalents (tCO2-e)), which means the offsets will be produced in the future. mecu has chosen to plant trees as a means to sequester carbon because of the added biodiversity value. Trees continue to sequester carbon over their lifetime. As a result, this means of offsetting takes time to be realised, depending on the quantity and type of trees planted. mecu's strategy is to build and develop its Conservation Landbank to ensure biodiversity and carbon sequestration outcomes.
mecu recognises that forward crediting offsets carries the risk of claiming credits that may not eventuate. mecu has measures in place to ensure estimated sequestration is met. Carbon sequestered from planted trees is monitored and reported by Landcare CarbonSMART.
The land currently available in mecu's Conservation Landbank has the capacity to offset approximately 30,000 tCO2-e.
Carbon offsets for mecu's goGreen® Car Loan
The level of offset for cars financed by mecu has been established in accordance with advice from Landcare CarbonSMART which reports that the average car in Australia produces 4 tCO2-e per year. This forward credited offset is provided by planting trees in mecu's Conservation Landbank which will absorb enough tCO2-e to offset the greenhouse gas emissions generated by the average car per year.
For example, for a car loan with mecu for 3 years, mecu will plant enough trees to forward credit offsets equal to 12 tCO2-e (3 year loan x 4tCO2-e/year).
For more tips and information on how to travel sustainably, click on view Greenfleet's Sustainable Transport Guide.
