Carbon credits

Hi everyone,

Welcome back to Green World! Today we're talking about an industry that has expanded massively in the past few years. Carbon credits are one of the measures that companies are taking to reduce CO2 emissions.

But how does it actually work? The companies that sell carbon credits fund projects to protect an area of forest or rainforest from deforestation. They then calculate how much carbon dioxide emissions they have saves by protecting this area. This means they can now sell 'negative carbon emissions' to companies. In this way, the companies are funding the protection of said area and are causing negative emissions while doing so meaning that the company can still emit greenhouse gases but can claim to be net zero. One carbon credit is basically the permission to emit one ton of CO2. This is good for the company as well as they are able to advertise as sustainable at a relatively low cost to actually reducing their emissions. And it means that the rainforests like the Amazon are protected. This industry expanded greatly during the COVID-19 pandemic: in 2021 150 million credits were sold at a total cost of 1.3 billion dollars.

This all sounds good. Maybe too good? In reality, there are problems. Probably the biggest problem is calculation errors. If a project overestimates how much carbon it is saving, intentionally or not, then they can sell more credits. Not only is this a money-making machine, it also means that companies are falsely under the impression that they are allowed to emit more. Overestimations of up to 400% so 4x the actual amount of carbon have been found in studies and investigations. These credits are called "phantom credits" because they don't actually exist. Another problem, that is very similar, is companies 'protecting' an area that isn't actually at risk in the first place. The idea of credits is to save rainforests from deforestation, but if these rainforests aren't actually at risk then it's kind of useless. Sellers can make millions because they don't even have to do any protecting. Tying into this is the fact that there is no reliable way of knowing if a credit is legit or just a scam. A study looking into a selection of projects determined that over 60 million credits didn't actually have any positive effect on the environment. One of the world's biggest sellers had 94% of their credits determined useless. These sellers are obviously denying all claims by scientists and journalists. There have even been allegations of the mistreatment of native people by the projects active in their areas. One final fundamental problem is that companies now have an excuse not to reduce emissions by buying credits.

We hope you found this post interesting. Vote here to decide on next year's monthly post. See you next week!

Your Green World Blog Team💚

Sources:
https://www.sciencedaily.com/releases/2023/08/230824150717.htm
https://carboncredits.com/the-ultimate-guide-to-understanding-carbon-credits/
https://www.theguardian.com/environment/2023/jan/18/revealed-forest-carbon-offsets-biggest-provider-worthless-verra-aoe

Images:
Title image: This image is owned by a blog editor.
"CO2 emissions", owned by Ian Britton (on flickr.com), is licensed under CC BY-NC 2.0.
“Rainforest”, owned by Jo (on flickr.com), is licensed under CC BY 2.0.

Comments

Ecotourism: what it is, the advantages and the disadvantages

Hi Everyone! Today we wanted to talk about the idea of ecotourism, including the advantages and disadvantages of this concept. If you are looking to reduce your environmental and social impact when travelling, then this is the post for you! Ecotourism is a form of tourism which limits the damage to the environment and local community. It can involve helping in community projects such as planting trees, as well as taking part in local customs and festivals. It helps to keep the local culture alive, while preserving the natural environment. The advantages are abundant. By helping in a project conserving the environment, tourists gain a new understanding and appreciation for the natural world and may be inspired to make changes in their "real" life to live more sustainably. It provides a valuable insight to a country and community, perhaps also inspiring more respect for different people and the lives they lead. The projects also provide sustainable income sources for locals, h...

The Climate Book by Greta Thunberg | review & thoughts

Hi Everyone! You may be aware that Wednesday was International Women's Day, so today I wanted to share a book review for a book written by one of the most inspiring women of our generation: Greta Thunberg. She is, of course, the legendary creator of the Fridays For Future movement and has inspired thousands of children to skip school on Fridays to protest for the climate. She recently compiled a book, simply entitled: The Climate Book. Here are my thoughts. This is a compilation of articles and essays from the best climate scientists, activists and high-profile people, which makes up, in my opinion, the climate bible . It quite literally encompasses everything you may want to know about the climate crisis, from the science, to how it affects us, what we've done and have yet to do, and so much more. This book is everything. I have not yet read the whole thing, because let me tell you, this book is HUGE. It's also of course very den...

Deforestation and why it’s a problem

Hi everyone, Welcome back to another post. Today we’ll be talking about deforestation and its impacts on our earth. Deforestation, the widespread clearance of natural forests, has been happening for thousands of years. One example is Western Europe, where, two millennia ago, 80% of the land was cloaked in dense forest cover. However, over time, a significant portion of this green expanse was sacrificed to create room for crops, livestock grazing, and as a source of fuel and building materials. Presently, a mere 34% of Western Europe retains its woodland. Today, the tropics deal with the brunt of deforestation. Activities such as mining, agriculture, road construction, and the establishment of vast cattle ranches drive the mass clearance of tropical rainforests. This results in the release of huge amounts of carbon dioxide into the atmosphere, exacerbating the global climate crisis. The consequences come in two waves: first, the reduced number of...

Discussion || Should Everyone Switch To Electric Cars?

Hi Everyone! Thank you so much for joining me today, as I hop on the blog to discuss whether everyone switching to electric cars would really help the environment. In other words, should everyone switch to electric cars? This is the first part of a two-part series, discussing electric cars, so stay tuned for part two!! I would like to start this post by stating that I am by no means an expert. This is knowledge I have from my own experience, and from research I have done. If anything is incorrect please take it as it is and accept that this is a discussion and I am taking on board all opinions from reliable sources on this complex topic. Electric cars are a huge topic when it comes to sustainability and "saving our planet". There is no debating the fact that electric cars are better for the environment than diesel or petrol once they are on the road. But the production of them is often very polluting, with one study show...

August Top Tips - electronics

Happy August! For the Top Tips this August we will cover one really obvious waste product that we have totally disregarded so far: electronics. Electronic devices (Phones, computers, TVs, printers etc.) not only use up electricity but also create so much waste, especially considering how many people own them and what amount of them. Many people for example own more than one phone or regularly get new ones. That itself is a waste, however, they do need fixing and extra products such as cables and headphones as well. Some companies design their products to fail after a certain amount of time so the consumers have to get new ones… With all of that comes a lot of waste, and here are tips on how to avoid some of it! 1) Use your product as long as possible. If you use each product for longer, then you won't have to keep buying new ones. This saves money and resources. Many people like to get themselves the newest device as soon as possible to get ...

The life of ... a koala

Hello everyone, Today we're talking about koalas. Also known as koala bears, koalas are marsupials. So they're actually not bears. Koalas, phascolarctos cinereus , are tree dwelling and probably best known for spending most of the day sleeping. They live for up to 15 years in the wild although captive koalas generally live for longer. Koalas have a stout, gray body and a cream-coloured chest. They have a broad face, small yellow eyes and big fluffy ears. In adaptation to climbing, their feet are strong and clawed. Adult individuals in South Australia weigh 14kg and are 60-84cm big. Their Eastern cousins are considerably smaller. Koalas are found in Eastern and Southern Australia, where they live in eucalyptus trees. They feed on the leaves of these eucalyptus trees, eating up to 1.3kg a day. With a body weight of up to 14kg, this means they eat just under 10% of their body weight every single day. However, the le...

04.10.2020 Animal of The Week: Orca

Hello everyone. This week's animal of the week is Orca. They are also known as killer whales. Habitat Orcas live all over the world. They migrate according to where their prey are. However they are more common in colder waters. Diet Orcas are at the top of the food chain and have very diverse diets, eating mainly fish but also penguins, and marine mammals such as seals, and even other whales. They hunt (and live) in groups, making them very dangerous to certain species. Dangers There are a few dangers that they face, although for now the population doesn't seem to be suffereing. Some of these are: -Hunting for entertainment as they are intelligent creatures and so appeal to people who want to test their skills. -Polluted waters can be a threat as when certain chemicals get into the orca, most likely from their prey, they can be lethal. These can get into the water by oil leaks and chemical leeches. -Prey as overfish...

Beavers and their dams: what effects do they have?

Hi everyone, Today we're talking about beavers and their effects on the surrounding ecosystems and environments. 'Beaver' referres to two species in the genus Castor . They are found in North America, Europe and Asia and are the largest rodents in those places and the second largest rodents in the world. Beavers grow up to 80 cm long with a flat, paddle-shaped tail up to 45 cm. They have a small head, large incisor teeth and fur lined lips to avoid inhaling water while cutting and transporting branches underwater. They weigh 16-30kg and are nocturnal. Beavers live in streams, rivers, marshes, ponds and lakes where they construct dams. These have earned them the title 'ecosystem engineers' but we'll talk about that later. The dams are constructed with branches, sticks and rocks. They create a calm pool with a higher water level on one side. Beavers make their homes (lodges) in these calm pools. Beaver dams are both have bot...

Animals 31-35 in our '50 incredible animals' series

Hi Everyone! Welcome back to our blog, today we are sharing another 5 incredible animals. This is part of a series to celebrate our 50th blog post, all about unusual animals! Enjoy! 31. Pangolins These creatures are often mistaken for reptiles but they are in fact mammals. They are covered in scales and use them to defend themselves because similar to a hedgehog, they curl up into a ball. They eat ants, termites and larvae. They eat using their tongue, which is very long- sometimes even longer than their body! Sadly, Pangolins are in high demand as their meat is considered a delicacy their scales are used in traditional folk remedies, which means that there is an illegal trade. Luckily, there have been many initiatives put in place to help these animals by WWF and similar organisations. 32. Macropinna Microstoma This is a species of fish that live at about 600m below sea level. They hang nearly motionless in the water and have a very unusual...

Animals 36-40 in our '50 incredible animals' series

Hi, As you probably noticed, we took a break from this series, mostly due to having just too much to do. But we're back now with the last three posts. 36. The Pinocchio frog The Pinocchio frog can be found in the Foja Mountains in Indonesia. They mainly eat insects, although little is known about them. They are named because the males have a spike on their noses. They were only discovered in 2008, and this was completely by accident! It remained unnamed scientifically until over ten years later when it was given the name " Litoria pinocchio " . There is very little information about them but Wikipedia states that "the male Pinocchio frog inflates its nose when calling, and the nose decreases in size when the frog is calm and quiet," which I think is hilarious and so interesting! 37. Snub-nosed monkey Especially noticeable due to their curious looks, the snub-nosed monkeys can be found in the forests of central China and northern...

Green World

Search This Blog