Carbon Offset Procurement Framework

The University of Melbourne’s Sustainability Plan 2030 commits the University to being Climate Active Carbon Neutral certified by 2025 and being climate positive by 2030. Complementary to our work on reducing emissions, the University has developed a Carbon Offset Procurement Framework, which outlines principles and a process to maximise our impact from carbon offset procurement.

The Framework was developed by researchers in Melbourne Climate Futures, in partnership with the University’s Sustainability Strategy Team and the City of Melbourne.

The University’s Treasury and Sustainability Strategy Teams successfully piloted the approach in 2023, purchasing carbon offsets to meet the University’s 2023 commitments (see 2023 Sustainability Report). Feedback to MCF following the pilot has resulted in this updated framework that guided carbon offset purchases for 2024 and will be used going forward.

Carbon Offset Procurement Framework

The Framework provides clear guidance to the University on how to select a portfolio of carbon offsets to balance risk, appropriately align with our broader goals, adhere to global best-practice and address budgetary constraints.

Carbon Offset Strategy

The core elements of the University’s offset strategy are screening, qualification and prioritisation – creating a pool of viable offsets and then selecting those of the highest quality.

Carbon Offset Procurement Spreadsheet

This spreadsheet provides guidance for other organisations to apply the Carbon Offset Procurement Framework.

Contact

For queries or feedback relating to sustainable finance, please contact us at:
corporate-finance@unimelb.edu.au