What is Shift?
St1 has started a program named Shift, whose purpose is to mitigate climate change through carbon sinks. St1 offers its customers the opportunity to invest in Shift’s projects through carbon credits.
What is a Shift carbon credit?
A Shift carbon credit is the product that can be purchased in the Shift program. 1 Shift carbon credit represents a reduction or removal of 1 ton of CO2-e. Shift carbon credits are sold on a voluntary carbon market.
Can SHIFT carbon credits be used as allowances for the EU ETS?
No, allowances are handled separately. The voluntary market and EU ETS are not linked in any way.
Why is St1 launching Shift?
Investments in sustainable carbon cycle are part of St1’s strategy and value chain. The Shift program contributes to fulfilling our vision to be the leading producer and seller of CO2 -aware energy. In addition to our renewable energy projects, we intend to promote a more sustainable carbon cycle by investing in carbon sequestration.
Do carbon credits give you permission to pollute?
No, carbon credits are not a permission to pollute. First, we need to reduce and avoid emissions. Additionally, excess carbon must also be removed, and this can be done by investing in carbon credits.
What is a voluntary carbon market?
A voluntary carbon market is a market enabling customers to invest in climate mitigation projects. A voluntary market operates in addition to a compliance market (e.g., ETS).
How do I buy Shift carbon credits?
All Shift carbon credits are purchased through the St1 online portal. Please contact your local sales representative for further guidance.
What can I do with a Shift carbon credit?
Carbon credits can be used to demonstrate company’s ambition and commitment to climate change mitigation work.
How do I get a certificate for my purchased emissions reductions or carbon removal?
You will receive a Shift verification after your purchase and a Verra retirement certificate after we have retired credits on your behalf. The retirement process is carried out monthly.
How can I see my retired credits in the registry?
We register and retire all purchases once a month, meaning that it can take up to 30 days before you are able see the retirement of your credits in the Verra registry. If you don’t see your retired credits after 60 days of purchase, please contact us.
How can I be sure that my Shift carbon credits are real?
All credits are listed in a third-party registry to ensure transparency and credibility. You can find your retired credits in the Verra registry by searching for the unique serial number provided on your retirement certificate. If you need additional guidance, please don’t hesitate to get in touch with us.
What do I do if I don't receive an email confirmation?
Please get in touch with us. The confirmation email should arrive the same day you ordered the Shift carbon credits.
What kind of projects do Shift offer?
Currently you can purchase carbon credits from a reforestation project in Kenya.
The project crediting period is 30 years. What happens after that?
In every project we aim to ensure that there is a future management plan in place, spanning longer than the actual project time. In forestry projects our objective is to promote long-term forestation to the project area. Depending on the area, the requirement for permanence is 50-100 years. Additionally, every project has a buffer pool to cover reversals from unintentional damages, e.g., fire, before the claimed permanence time is over. Buffer pool size is usually 10%.
What is the Verra registry?
Verra Registry facilitates the transparent listing of information on certified projects, issued and retired units, and enables the trading of units. It is the central repository for all information and documentation relating to Verra projects and credits. The Verra Registry creates transparency and helps to prevent double counting.
What does investing in the Shift program mean?
When you invest in Shift carbon credits, you support sustainable initiatives and projects that focus on mitigating climate change. Shift does not offer any cash in return, but you invest in climate change mitigation through carbon sequestration. With a Shift investment, you make it possible to develop climate change mitigation projects, research and development.