Frequently Asked Questions on the
A carbon offset represents the reduction, removal, or avoidance of greenhouse gas (“GHG”) emissions (measured in tonnes of CO2e). Verifiable carbon offsets allow parties to offset a portion of GHG emissions associated with their activities by supporting projects that reduce, remove, or avoid a portion of GHG emissions from the atmosphere.
Under the Caltex Carbon Offset Programme, loyalty points that have been voluntarily contributed by a CaltexGO member will be converted into a cash value which will then be used by Caltex and/or our Affiliates to purchase carbon offsets at the prevailing market price and retire them on a monthly basis.
For example: A fuel purchase of 50 liters of gasoline generates 100 loyalty points. At the prevailing market price around the time of this FAQ publication, we expect the retirement of purchased offsets from these loyalty points in this example would offset approx. 40 to 60 % of tailpipe greenhouse gas emissions associated with the combustion of the purchased fuel.
Offsets will be purchased from projects that have been verified by an independent third-party (“Project”), for example, the Verified Carbon Standard Programme. Following compliance with the relevant third-party standard, the Project is issued carbon offsets, each with a unique serial number. Under this Caltex Carbon Offset Programme, after Caltex and/or our Affiliates purchase carbon offsets from a Project, the redeemed loyalty point equivalent number of offsets will be retired on a monthly basis and not be traded again.
At the time of this FAQ publication, we plan to purchase carbon offsets from the following 2 projects:
- The Verified Carbon Standard Project 674 - Rimba Raya Biodiversity Reserve Project based in Central Kalimantan in Indonesia. Click here for more information.
- The Verified Carbon Standard Project 1650 - Reduced Emissions from Deforestation and Degradation in Seima Protection Forest, Cambodia. Click here for more information.
The Caltex Carbon Offset Programme is only open to CaltexGO members who purchase fuel at Caltex retail stations in Singapore via their CaltexGO app.
Caltex will continuously look to include different projects after evaluation under the Caltex Carbon Offset Programme.
The terms and conditions set out below apply to the Caltex Carbon Offset Programme (“Programme”) organized by Caltex Singapore Pte Ltd (“Caltex”).
1. The Programme is only open to CaltexGO members who purchase fuel at Caltex retail stations in Singapore via their CaltexGO app (“CaltexGO Member”). Participation in the Programme is on a voluntary basis limited to those CaltexGO Members who opt into the Programme via the CaltexGO app.
2. Each CaltexGO Member may take part in the Programme by electing to use loyalty points (including any promotional loyalty points) earned from his/her fuel purchase to offset a portion of the greenhouse gas emissions from combustion of the fuel purchased. This election can only be made via the CaltexGO app.
3. In no event will Caltex and its parent company, affiliates, subsidiaries and related companies or their respective officers, directors, employees, members, shareholders, attorneys, representatives and agents (collectively, “Affiliates”), be responsible or liable for any damages or losses of any kind, (including but not limited to direct, indirect, incidental, consequential, special or punitive damages) arising out of or in connection with a CaltexGO Member’s election to participate in the Programme.
4. These terms and conditions may be amended and/or the Programme may be suspended or terminated by Caltex at any time without prior notice and without having to disclose any reason whatsoever.
5. This Programme and the Terms and Conditions shall be governed by the laws of Singapore. The parties hereby submit to the exclusive jurisdictions of the courts in Singapore.
6. By taking part in the Programme, the CaltexGO Members automatically and voluntarily agree to the above stated Terms & Conditions.