UB bolsters climate neutrality goal through purchase of high-quality carbon credits

BUFFALO, N.Y. – The University at Buffalo has become the first State University of New York (SUNY) campus to further reduce greenhouse gas emissions by purchasing high-quality carbon credits as part of its comprehensive climate neutrality strategy.

These credits are designed to complement the university’s direct and ongoing decarbonization work, such as on-site renewables and the creation of a thermal energy network to transition away from natural gas usage. The credits will be used to offset air travel and other scope 1 mobility emissions for which UB does not yet have decarbonization alternatives. (Visit the FAQ section on the Sustainability website to learn more.)

This follows an extensive, multi-year  research effort that included numerous conversations with carbon credit purchasing leaders in higher education, national associations and industry experts. UB has contracted with New York-based ACT Commodities Inc., which will act as a carbon credit broker.

Higher education climate action organization Second Nature, which assisted UB in the process, defines a carbon credit as “a tradable instrument that represents the reduction or removal of one metric ton of carbon dioxide equivalent.”

These offsets often fund projects that reduce greenhouse gases, ranging from reforestation to renewable energy investments and many other strategies, including the destruction of more potent greenhouse gases. Carbon credits can be bought and sold to transfer climate benefit between entities and provide critical funding to projects that otherwise would not occur.

UB’s carbon credit strategy aims to offset greenhouse gas emissions from directly financed air travel for activities such as research trips for faculty, conferences for employees, and travel for athletic teams.

The strategy is built upon three key components:

• First, a market purchase of high quality carbon credits to cover emissions that do not have a readily available alternative.
• Second, the development of a local or regional carbon credit market that would maximize keeping resources and impact in Western New York. There are currently no certified carbon credits produced in WNY. However, UB has begun working to advance further due diligence with other anchoring institutions like Erie County and M&T Bank as well as local NGO’s and development organizations that might be interested in participating.
• Third, leveraging potential carbon credits through campus operations and scholarly activities here at UB. While these amounts will be smaller, their application for experiential learning and direct engagement of the campus is significant.

“This work represents a smart, innovative and strategic approach to reducing greenhouse gases from those areas for which we currently do not have good solutions,” says Laura Hubbard, UB vice president for finance and administration. “It also represents another step we are taking to ensure institutional responsibility, and complements our direct on-campus decarbonization strategy to advance UB’s 10 in 10 climate action work.” 

All carbon credits are not created equal, and UB is being intentional in ensuring that it purchases certified high-quality carbon credits. In addition, UB’s project has received an AAA rating from Calyx Global, a company that provides rigorous, independent, evidence-based insights and ratings for carbon credits. This ensures that the carbon credits purchased are truly making a significant difference.

According to Calyx Global, most high-quality credits generally are concentrated under the umbrella of ozone-depleting substances, like refrigerant gases, which are hundreds to thousands of times more powerful as a greenhouse gas than carbon dioxide.

The process looks like this: The ozone-depleting substances are collected and then transported to Bowling Green, Ohio, where they are safely destroyed by a company called A-Gas, thus preventing the harmful gases from being released into the atmosphere.

This results in a carbon offset that gets credited to UB and counted against UB’s air flights and other directly financed travel. Were it not for the carbon credits purchased by UB, this refrigerant gas would have leaked into the environment.

Through ACT Commodities, UB has contracted to purchase nearly 9,000 carbon credits at a price of $112,000, which results in $12.50 per offset. This price is higher than what is generally sold in the open market and that greater price point is a reflection of the quality, assurance and due diligence, which provides greater confidence behind the credit.

In researching carbon credits, the Leveraging Offsets for Challenging Emissions committee of the UB 10 in 10, the university’s climate action plan, talked with colleagues from the University of Arizona, the University of California system, as well as Brown and Duke universities, to learn more about their successful carbon credit purchasing plans and best practices for high-quality carbon credits.

“We appreciate the work of not only our UB committee, but also that of our broader national higher education sector that is working diligently and creatively to advance carbon neutrality,” says Bill McDonnell, associate vice provost for academic planning, who leads the offsets committee. “It’s through the collaboration, investigation, learning and implementation that we can advance these types of solutions for UB and beyond.”