Here, we aim to provide you with comprehensive information about carbon cost, carbon footprinting, and offsetting. Understanding these concepts is crucial for individuals and businesses looking to mitigate their environmental impact. Let's delve into what carbon cost entails.

What is a Carbon Cost?

Carbon cost refers to the environmental price associated with the release of carbon dioxide (CO2) and other greenhouse gases into the atmosphere. It represents a financially quantifiable way to measure the impact of human activities, products, or services on the Earth's climate system.

Why Carbon Cost Matters

Understanding carbon cost is essential for making informed decisions about consumption and production. By recognising the carbon footprint of various activities and products, individuals and businesses can take steps to minimise their impact on the environment. Assigning financial meaning to GHG emissions can lead to more sustainable practices and contribute to global efforts to combat climate change.

How to define a carbon cost

There is no single carbon price currently. A list of carbon pricing options is provided here:

• The current EU ETS price per tonne of CO2e can be visualised here.
• Other current prices can be visualised here.
• UK Green Building Council recommend using the higher rate from HMT Green Book at the time of offset.
• Greater London Authority carbon offset is recommended as £95/tonne CO2 (as of 2024), paid in advance and for a 30-year life-cycle.

How to set up your carbon cost in the Pilio Carbon tool

Once you have chosen your carbon cost per tonne of CO2-equivalent, you can set this value in the Pilio Carbon tool and use it in your results and reports.

To do so:

1. Go to the "Start" tab of your carbon footprint
2. scroll down until "Set a carbon price"
3. insert your price
4. click on "Save and next" or press Enter on your keyboard

If you have any further questions or need assistance with carbon cost, footprinting, or offsetting, please don't hesitate to reach out to our support team. We're here to help you on your journey towards a lower carbon footprint and a healthier planet.