Value of Carbon Credits Purchased (OI2436)

This metric is intended to capture the equivalent monetary value of the carbon credits purchased during the reporting period. Organizations are encouraged to report this metric in conjunction with Greenhouse Gas Emissions Avoided Due to Carbon Offsets Purchased (OI6774).

Examples of relevant details to footnote include whether the carbon offset was purchased through an offset market or through a specific offset project. If the carbon offset was purchased in an offset market, additional relevant details to footnote include information on the carbon offset market in which the organization purchased the credit(s), whether the carbon market is a compliance or voluntary market, and the unique identification number and third-party registry for the purchased carbon credit(s). If the carbon offset is purchased through a specific offset project, additional relevant details to footnote include what baseline was used for the calculation, evidence that the project would not have been undertaken without carbon offset expenditures, and whether the funds were directed towards the project's capital expenditures or other uses (e.g., maintenance). Organizations can refer to the glossary for additional information on carbon credits.

In some contexts, this metric can serve as an indicator of whether the outcome being sought by an investor or organization is occurring (the WHAT dimension of impact). For more on the alignment of IRIS metrics to the five dimensions of impact, see IRIS+ and the Five Dimensions of Impact (https://iris.thegiin.org/document/iris-and-the-five-dimensions/). No single metric is sufficient to understand an impact; rather, metrics are selected as a set across all dimensions of impact. When possible, the selection of metrics to measure and describe the five dimensions should be based on best practice and evidence.