The world is changing. Economic development and globalization create magnificent opportunities. Unfortunately, one of the negative externalities of this process is an increasing level of greenhouse gasses in the atmosphere. If dramatic action on this issue is not taken now, the resulting effects on our world’s climate will be disastrous. In fact, the threat of climate change is perhaps the single most important global problem human kind has ever faced. Ultimately, this is a collective action problem which if we are to solve will require global coordination and commitment on an unprecedented scale. We do not believe that this means that individuals and organisations should do nothing while we await a more comprehensive solution. We need to take responsibility for our own contributions to the problem.

TRIUM, because of the very global nature of our student body, generates large quantities of carbon emissions from the extensive travel we require of our students and our staff. We estimate that the programme now generates between 800 and 1,000 tons of carbon a year. Starting with the Class of 2008, TRIUM has become carbon free by purchasing carbon offsets. Ideally, carbon offsets work by facilitating actions which have the effect of reducing an equivalent amount of carbon emitted in a different area. If market mechanisms work properly, the offset should be created where it is most cost effective to do so.

One potential criticism of offset programmes is that because of a lack of regulation and oversight on what can count as a legitimate offset, the system can function to alleviate feeling of responsibility without actually making a difference. This is a real problem and people are right to raise the issue. For this reason, purchasers of offsets must be cautious in who they select as partners. After careful research TRIUM has decided to purchase carbon offsets from carbonfund.org in the area of renewable energy projects. Carbonfund.org has one of the most comprehensive verification schemes in the industry. Other organisations which have partnerships with carbonfund.org include Dell, Orbitz, Yakima, Lancôme and Volkswagen.

Part of TRIUM’s mission is to add to the positive consequences of globalisation by creating and cultivating multinational business and social networks. We do this by providing a forum for global business leaders to exchange ideas and learn from each others experiences. This allows them to grow intellectually, become more sophisticated and informed business people and gain greater knowledge and understanding of others’ cultures. We also promote a vision of social corporate responsibility which urges business leaders to recognise a multiple-stakeholder view of company practice. By taking the significant step of making the programme carbon free, we have harmonised our own actions with our global corporate responsibility philosophy. How is your firm doing?

Learn more: http://www.carbonfund.org/