Emissions from the health industry are some of the top around the globe with more than five percent of all emissions in 2014. Most of the emissions come generated by domestic sources like transportation and manufacturing however, they also come from other countries in that supply chain. This post reviews the options for hospitals to become more environmentally friendly such as buying carbon credits and cutting down on energy use. The advantages of this method are many. A prime example of this is the possibility to cut down on healthcare emissions by buying low carbon products.
What are Carbon Credits?
Carbon credits are a fresh method of financing green energy. They are becoming less expensive as energy costs increase. The increasing cost of carbon is a significant incentive for companies to implement eco-friendly methods. Carbon prices are increasing each year as a result of rising energy consumption in the world however, as the cost of carbon is increasing the benefits of using carbon credits be felt for a long time to become. So, if businesses are worried about their carbon footprint, they could benefit from these new incentives to offset the cost of carbon emissions.
The healthcare sector supply chain accounts for the bulk in carbon dioxide emissions. The NHS has drastically reduced its energy usage since 2008 and has reduced its carbon emissions by 18.5 percent. However, healthcare’s demand for energy is always growing, and will continue to do so. This is why carbon credits could help reduce the costs of health care and aid in helping the NHS reach its goal of decreasing the carbon footprint. The study, authored by Dr. Nick Watts, says that healthcare providers should find efficient ways to convey the need. These signals can be as a result of upfront commitments to buy carbon credits, while long-term signals could take by way of commitment to reduce greenhouse gas emissions. This could be accomplished through the registration of commitments and purchases of carbon credits.
Improve the Health of the Population
Carbon credits can also be an effective way to improve the health of the population. The credits are accessible to hospitals as an incentive to purchase low carbon products and services. By buying carbon credits hospitals can reduce the environmental impact they can have on the planet. The program was developed in the American Society for Health Care Engineering (ASHE). In the process, it has grown into a vital tool for the healthcare industry. With the purchase of carbon credits hospital executives are able to invest into the health of patients as well as society.
Another alternative that hospitals have is to purchase carbon credits that come from sources of renewable energy. Alongside purchasing credits provided by renewable sources, they may take part in the Renewable Natural Gas Program, which is a program that captures methane from the landfills of Quebec. Through this program they can eliminate 119,500 tonnes of carbon dioxide annually. This program has an impact positive on the well-being of patients. By implementing these strategies hospitals are also able to participate in the carbon credits.
US Health Carbon Footprint
The U.S. health sector’s carbon footprint is over a quarter of global total health-related sector emissions. The emissions are derived from the construction of hospitals or transportation of patients, the healthcare sector could reduce the carbon footprint of the entire sector. Furthermore it is the United States’ environmental policies can be a fantastic way for companies to show that they are committed to sustainability. Recently the United States announced that it will offer taxes to hospital facilities to help them increase their efficiency in the field of environmental protection. The program will also offer guidelines and incentives for privately-owned healthcare facilities to help them achieve their objectives.
Medical Tourism – Carbon Credit Initiatives
Innovative medical tourism company Taqtik Health credits patients for flights, calculates a value of carbon credits and deducts the amount from their medical packages. In addition the company also sponsors and funds carbon projects for farmers to assist with carbon reduction in improved farm techniques, equipment, and infrastructure. They also support projects that encourage industrial hemp production as a way to improve soil quality.
Carbon Credits to Reduce Expenses
Alongside the health industry hospitals can also utilize carbon credits in order to reduce their expenditures. Apart from cutting down on energy costs carbon credits have other benefits. Apart from reducing healthcare costs health care providers benefit from tax-free carbon offsets. Through participation in the free carbon market, healthcare facilities can gain money while reducing the greenhouse gases they emit. In addition to being able lower their overall expenses and expenses, these initiatives can lower the risk they face.
