Carbon Fund: investing in a green future25.2.22
Hotspring Partners with Global Carbon Offsetting Organization
Creativity needs oxygen to thrive, and so does the world
Hotspring is now an official partner of Carbon Fund, a leading global organization that supports third-party validated and verified renewable energy, energy efficiency, and reforestation projects that reduce carbon dioxide emissions and the threat of climate change. By offsetting our carbon footprint with Carbon Fund, we aim to ensure the only footprints we make in this industry are those forging a path to a better way of working that nurtures talent.
Hotspring empowers creatives from around the globe to work anywhere, anytime – and the team itself has not flown since the company was founded. This ability to work remotely also benefits the planet, helping to reduce carbon emissions from daily commuting. Globally, oil savings are around 11.9 million tonnes of oil equivalent (Mtoe) per year – or about 250,000 barrels a day, corresponding to about 1% of road passenger transport consumption. But the reality is that the tech industry bears its own responsibility in the impact on the environment. We recognize that VFX production requires energy, which results in CO2 emissions; therefore, we strive to offset the work we perform with our clients to become carbon neutral. Creativity needs oxygen to thrive, and so does the world.
To make a significant impact, socio-economic and environmental factors all need to be considered. So we’re not just outsourcing our ‘green credentials’ by planting a few trees. From forests to renewable energy projects, every investment follows the Carbonfund.org Quality Assurance Protocol, which ensures that each project meets or exceeds international certification standards, as well as an additional set of criteria and third party validation.
Carbon Fund’s Gujarat solar power plant in India, as one example, has collectively installed, and now operates, more than 63,000 solar photovoltaic modules with an annual estimated power generation of more than 24,000 megawatt hours. While providing environmental and community benefits, the project will reduce approximately 160,000 metric tons of carbon dioxide equivalent emissions (mtCO2e) over the first 7 years of the Project. The Hydro Power Project by Darjeeling Power, a 3 megawatt, grid-connected project on the Shaung Stream, a tributary of the Bapsa River, will reduce nearly 165,000 metric tons of carbon dioxide equivalent emissions (mtCO2e) within its first 10 years. As a small-scale, run-of-river hydroelectric project, it provides a sustainable source of renewable energy without the displacement of people, nor the establishment of a dam.
Find out more about Carbon Fund’s projects here.