What are #carbonoffsets? Do they make any sense? #finance #climate

https://www.vox.com/23817575/carbon-offsets-credits-financialization-ecologi-solutions-scam

@goodpracticeal @pezmico

While not for the Canadian fires –

"Wildfires destroy almost all forest carbon offsets in 100-year reserve, study says

Carbon released by US forests burnt in recent blazes expected to wipe out most of the buffer in Californian trading system"

FT, 5 August 2022

Link to article (no paywall):
https://www.ft.com/content/d54d5526-6f56-4c01-8207-7fa7e532fa09

#ClimateCrisis #CarbonOffsets #Wildfires #ForestFires

I always thought #carbonoffsets are like cheating on your partner and „making things good“ by giving flowers, but it might actually be much worse and even increase #ClimateCrisis and #GlobalWarming. More than 90% are likely #phantomcredits

https://www.theguardian.com/environment/2023/jan/18/revealed-forest-carbon-offsets-biggest-provider-worthless-verra-aoe

#CarbonOffsets have potential to improve the environment while sucking carbon from the air, if the market is trustworthy and used in addition to reducing emissions.
“But I’m starting to give up on that. I started studying carbon offsets 20 years ago studying problems with protocols and programs. Here I am, 20 years later having the same conversation. We need an alternative process. The offset market is broken.” Barbara Haya, Berkeley Carbon Trading Project
https://www.theguardian.com/environment/2023/jan/18/revealed-forest-carbon-offsets-biggest-provider-worthless-verra-aoe
#ClimateChange

@ToobaSyed finance works on obfuscation of risk, beneficiaries, and control. Exactly how Neo-Colonialism proliferated.

Expecting the profiteers to not exploit the coming Climate Chaos the Global South faces will be foolhardy.

International finance got us here, why would it ever get us out?

#ClimateBonds #GreenBonds #ClimateCrisis #ClimateEmergency #GlobalSouth #Pakistan #CarbonCredits #CarbonOffsets

A fascinating piece about how hard it is to get carbon offsets right. Particularly interesting to me is the fact that the net gains of forest offsets are at risk of being wiped out by forest fire... which is increasingly likely in many areas due to drought.

#Climate #CarbonOffsets

https://theconversation.com/satellites-detect-no-real-climate-benefit-from-10-years-of-forest-carbon-offsets-in-california-193943

"The Pricing of Everything" by George Monbiot
https://youtu.be/ni1tX0bpTR8

#CarbonOffsets #Neoliberalism