{"id":15699,"date":"2021-10-18T15:37:08","date_gmt":"2021-10-18T15:37:08","guid":{"rendered":"https:\/\/website.clientdemoweb.com\/oggadoon\/?p=15699"},"modified":"2021-10-18T15:37:08","modified_gmt":"2021-10-18T15:37:08","slug":"monetising-climate-change-carbon-credits","status":"publish","type":"post","link":"https:\/\/website.clientdemoweb.com\/oggadoon\/monetising-climate-change-carbon-credits\/","title":{"rendered":"Monetising climate change, and when carbon credits are a cop-out"},"content":{"rendered":"<h3>Trend: demonetising climate denial content on Google and YouTube<\/h3>\n<p><span style=\"font-weight: 400;\">Last week, Google and Youtube announced that they would be demonetising climate denial content. It\u2019s a step in the right direction not only in the battle against fake news, but for climate science as a whole. If you picked up on the key takeaways of the IPCC\u2019s climate report, published in August 2021, you\u2019ll have noticed \u2013 if you hadn\u2019t already \u2013 that things are looking bleak.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Fortunately, many industries have already started taking action to combat climate change. We\u2019re waiting on key players, like the oil, fashion, and food industries to catch up\u2026 But on a wider scale, a number of sustainability campaigns are in place for businesses \u2013 regardless of their sector \u2013 to start making a positive difference.<\/span><\/p>\n<h3>What are carbon offset credits<\/h3>\n<p><span style=\"font-weight: 400;\">One such example is carbon offset credits (also known as carbon credits, or carbon offsets). Carbon credits are permits that allow a company to emit a certain level of carbon dioxide or greenhouse gases. One credit equals one tonne of carbon dioxide emissions. The goal is to reduce the emission of greenhouse gases by allowing polluting companies to continue to pollute up to a set limit. This limit is reduced periodically, and companies can sell their unneeded credits to other companies. Companies that exceed the limit are fined, and those that have leftover credits to sell can make money back. As a result, there is a double incentive for private companies to reduce their emissions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It sounds like a good idea, but in reality it\u2019s easy to take advantage of and does very little to benefit the environment. The fact is, emissions from the burning of fossil fuels can persist for <\/span><a href=\"https:\/\/www.ipcc.ch\/site\/assets\/uploads\/sites\/2\/2019\/06\/SR15_Full_Report_High_Res.pdf\"><span style=\"font-weight: 400;\">more than 800 years<\/span><\/a><span style=\"font-weight: 400;\">. So while protecting and planting forests is a good way to remove carbon, even the strongest offsets guarantee a <\/span><a href=\"https:\/\/www.i4ce.org\/wp-core\/wp-content\/uploads\/2020\/02\/0218-i4ce3153-DomecticCarbonStandards.pdf\"><span style=\"font-weight: 400;\">maximum 30-year insurance<\/span><\/a><span style=\"font-weight: 400;\">\u2026 Nowhere near the amount of damage that\u2019s really being caused. Carbon credits are a literal token gesture that do very little practical good in protecting the planet from emissions. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Furthermore, companies may find that paying for \u2018leftover\u2019 carbon credits from other companies is a cheaper and easier way of offsetting their emissions. So instead of doing anything about their own impact on the planet, they let others do the heavy lifting and then benefit twice over by buying off the credits for their own advantage. Of course, there are some businesses, in some industries, that will always struggle to operate on low emissions. And for those businesses, carbon credits, and the ability to buy more credits, is a legitimate way to manage their carbon footprint.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Greenwashing furthers climate change <\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The <\/span><a href=\"https:\/\/www.oecd.org\/tax\/tax-policy\/tax-policy-and-climate-change-imf-oecd-g20-report-april-2021.pdf\"><span style=\"font-weight: 400;\">OECD<\/span><\/a><span style=\"font-weight: 400;\"> has found that offsets under \u20ac120 per tonnes of CO2 is at best a <\/span><a href=\"https:\/\/website.clientdemoweb.com\/oggadoon\/10-top-tips-to-making-your-business-more-sustainable-without-becoming-a-green-washer\/\"><span style=\"font-weight: 400;\">greenwash<\/span><\/a><span style=\"font-weight: 400;\">, and at worst, actually increasing climate issues. This is why businesses taking their climate goals seriously steer clear of forest offsets in favour of science-based initiatives that offer alternative rewards without the risk of manipulation by those uninterested in sustainability. But since most companies could undeniably be doing more to alter their sustainability goals, do carbon credits just present a cop-out?<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This form does not exist<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Trend: demonetising climate denial content on Google and YouTube Last [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":15700,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[191,192],"class_list":["post-15699","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-climate-credits","tag-sustainable-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.14 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Monetising climate change, and when carbon credits are a cop-out - OggaDoon<\/title>\n<meta name=\"description\" content=\"Carbon credits sound like a good idea. 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