The Carbon Credit Allocation object represents information about how the carbon credits are allocated by an organization to offset their emissions.
It is a platform that makes carbon credit purchases simple and transparent, allowing organizations to accelerate climate positive impact at scale.
The global voluntary carbon market is growing as many organizations race to achieve their net zero commitments. Yet, organizations may not always know how to build a carbon credit portfolio — or even where to start. What’s more, the path to purchasing carbon credits is complex, and buyers want to trust that the carbon credit projects have a positive impact.
How Allocate Carbon Credits Works?
Carbon credits are one important tool that – when made and used well – can play a critical role in an organization’s comprehensive climate strategy.
We can use the example of Salesforce Net Zero Marketplace to better understand the Quality of carbon credits.
The first step of anyone’s net zero journey is clearly reducing emissions. But we now know that reducing self-generated emissions is not going to be enough.
How to Allocate Carbon Credits?
Allocate your purchased carbon credits against a specific emissions activities level. Here are the high-level steps that are required to effectively allocate carbon credits. Let’s take the example of Salesforce’s Net Zero Marketplace to better understand.
- Net Zero Cloud Manager can create an inventory of emissions across your company’s assets and procurement activities for a year to provide the total annual emissions inventory.
- Net Zero Cloud Manager can prioritize emissions activities that must be offset.
- Corporate buyers can identify carbon credit projects and purchase carbon credits from the marketplace.
- Net Zero Cloud Manager can create the carbon credit project records for the projects that were identified by the corporate buyers.
- Net Zero Cloud Manager can create the sustainability credit records for the carbon credits purchased.
- Net Zero Cloud Manager can allocate carbon credits against annual emissions inventory to offset the emissions.
- Net Zero Cloud Auditors can view the embedded dashboard for the carbon credit allocation.
What was the need to launch a carbon credit marketplace?
The climate crisis impacts everyone, and every business, organization, and government has a role in climate action.
There was a requirement to build powerful platforms that connect buyers and sellers, and thriving ecosystems. And by leveraging a trusted platform in Commerce Cloud, Salesforce was able to build the marketplace quickly, allowing us to scale and flex as we innovate and grow across our entire ecosystem.
Track Carbon Credit Allocation
Sustainability managers can track the different carbon projects in a year, the carbon credits allocated for each project, and the cost efficiency of the projects.
This change applies to CRM Analytics in Lightning Experience in Enterprise, Unlimited, and Performance editions where Net Zero Cloud is enabled.
If you want to try, just Go to Analytics Studio, and then create your app by using the Net Zero Analytics template.
How does the marketplace work? What is a carbon credit?
A carbon credit is like a permit for avoided CO2 emissions. An organization buys carbon credits to compensate for their emissions.
So where do Net Zero Marketplace’s carbon credits come from? Ecopreneurs: environmentally-focused entrepreneurs who lead and drive climate action worldwide. Let’s use an example where I am an ecopreneur in Honduras. My cookstove project transitions communities from inefficient wood burning stoves to cleaner cookstoves that reduce CO2 emissions from firewood and improve the health of communities.
