Historical emissions offsets (and Scope 3 sneak preview)

Cloudflare has announced its plans to offset historical carbon emissions generated by its global network infrastructure between 2010 and 2017. The company is working towards reducing its greenhouse gas (GHG) emissions to net zero in alignment with the Paris Agreement, which sets out a framework for nations to combat climate change. To achieve this goal, Cloudflare has invested in purchasing carbon offsets, specifically focusing on renewable energy credits (RECs), and nature-based removals. The company estimates that its network generated approximately 31,284 metric tons of CO2 equivalent emissions during the period from 2010 to 2017. Carbon offsetting involves investing in projects or initiatives that reduce, avoid, or remove an amount of greenhouse gas emissions equivalent to those produced by a company's operations. This helps companies compensate for their emissions and achieve net zero status. The nature-based removals chosen by Cloudflare involve supporting projects that sequester carbon from the atmosphere through activities such as reforestation, regenerative agriculture, and conservation of ecosystems like forests and wetlands. These initiatives not only help mitigate climate change but also contribute to other sustainable development goals, including improved water quality, biodiversity, and economic opportunities for local communities. By investing in these removals projects, Cloudflare aims to offset its historical emissions and support global efforts towards a more sustainable future. The company plans to continue working on reducing its current and future GHG emissions through energy efficiency improvements, renewable energy procurement, and other innovative solutions. This announcement highlights the growing importance of corporate responsibility in addressing climate change and underscores Cloudflare's commitment to sustainability. As more organizations recognize the need for action on this critical issue, we can expect increased investment in carbon offsetting and removals projects as part of their overall strategies for achieving net zero emissions goals.