carbon offsets
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Credit: aiokr chen/Unsplash
Federal government issues new guidelines to improve carbon offsets
The Biden administration introduced new guidelines to enhance the credibility of carbon offsets, which have been criticized for not effectively reducing greenhouse gas emissions.
In short:
- The guidelines aim to define “high-integrity” offsets that deliver real, measurable emissions reductions.
- Businesses are encouraged to prioritize reducing emissions within their supply chains before purchasing offsets.
- Critics argue the guidelines are vague and lack strict enforcement, allowing ineffective offsets to persist.
Key quote:
"Voluntary carbon markets can help unlock the power of private markets to reduce emissions, but that can only happen if we address significant existing challenges."
— Janet L. Yellen, U.S. Treasury Secretary
Why this matters:
Properly regulated carbon offsets can be a valuable tool in the fight against climate change, but without stringent guidelines and enforcement, their effectiveness remains questionable. This debate impacts global efforts to reduce emissions and the financial support directed towards sustainable projects, particularly in developing countries.
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Newsletter
Fixing the flawed carbon offset market with a new approach to coal plant shutdowns
Amid growing scrutiny over the effectiveness of carbon offsets, a major philanthropic organization announces a groundbreaking plan to authenticate their impact by phasing out coal plants in Asia.
In short:
- The carbon offset market is in disarray, with many credits failing to effectively counteract emissions as claimed.
- The Rockefeller Foundation is launching an initiative to create credible offsets by closing down coal plants in Asia.
- This effort aims to provide verifiable environmental benefits and support for communities affected by plant closures.
Key quote:
“There has been a lot of sloppy thinking [in the offset industry]. It has lead to bad practices and over crediting.”
— Joseph Curtin, managing director, Rockefeller’s Power and Climate Team
Why this matters:
A robust offset market can provide the financial mechanisms needed to transition to cleaner energy sources. Strengthening the market could help accelerate the retirement of coal plants by ensuring that investments in offsets lead to permanent reductions in greenhouse gases, thus contributing more effectively to the fight against climate change.
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Study reveals exaggerated climate impact claims in popular cookstove carbon offset projects
A recent study has uncovered that cookstove carbon offset schemes, a growing trend in environmental initiatives, may be overstating their climate benefits by a staggering 1,000%.
In short:
- Clean cookstove projects, widely used for carbon offsetting, are likely overstating their climate benefits.
- The study, conducted by the University of California, Berkeley, suggests a 10-fold overestimation in these projects' impact.
- Despite criticisms, some cookstove companies are adopting new methods to accurately measure their environmental contributions.
Key quote:
“A carbon credit market built on exaggerations is destined to fail. Our hope is that the specific recommendations we offer can help make clean cookstoves a trusted source of quality carbon credits.”
— Barbara Haya, director of the Berkeley Carbon Trading Project
Visit EHN's energy section for more top news about energy, climate and health.
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Image by Rinku Jareda from Pixabay
Cookstove carbon offsets overstate climate benefit by 1,000%, study finds
Clean cookstove projects, one of the most popular types of carbon-offset schemes, are probably overstating their beneficial impact on the climate by an average of 1,000%, according to a new study.
Credit: Gary Bembridge/Flickr
In Juneau, Alaska, a carbon offset project that's actually working
Visiting Alaska is an emissions-heavy prospect. An innovative program has tourists ease that by helping buy heat pumps for locals.
Credit: Francisco Chaves/Flickr
Company sells Indigenous land in Amazonas as NFTs without community’s knowledge
Areas of the Apurinã territory in the Lower Seruini area, in southern Amazonas state, were sold by Nemus under an NFT project that promises to preserve the forest and generate carbon credits.
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“Carbon Cowboys” chasing emissions offsets in the Amazon keep forest-dwelling communities in the dark
Indigenous and traditional groups in the forest are rarely consulted about carbon credit projects they see as the latest gold rush on their lands, and question the community and climate benefits the projects promise.
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