A New Carbon Credit Standard Brings New Hope To The Market
The post A New Carbon Credit Standard Brings New Hope To The Market appeared on BitcoinEthereumNews.com. There has been controversy surrounding the forest carbon credit market. Some project developers have been seen as cheating the system by overreporting the amount of carbon sequestered, which allowed them to earn greater revenue from carbon credit sales. We take for granted that nations have to destroy their forests to develop, but carbon credits offer another way. Countries need money to build energy infrastructure, roads and bridges, fund hospitals and universities, and with programs funded by carbon credits, they can develop without destroying their countries. Carbon Credits offer alternative revenues to the government and local communities. This allows a country to develop without destroying its natural resources. Deforestation in Cambodia. Densely canopied forest is destroyed in the pursuit of economic … More development. Wildlife Alliance This is how carbon credits work: they are coupons that represent some amount of carbon that has been stored in a patch of forest. Corporations can buy these coupons to help them achieve their net-zero commitments. Governments of developing nations can sell carbon credits and earn revenues to develop sustainably. The forest carbon credit market has been heavily criticized, saying that corporations who buy carbon credits are only greenwashing their image. Some criticism has been fair. We acknowledge that there have been enough projects with flawed baselines to justify scrutiny from the press. Some project developers have applied the methodologies in a sloppy way, prompting heavy scrutiny. There have been enough examples of poor integrity in carbon accounting to have delegitimized the wider system in the eyes of many. This led to cynics believing that everyone was overstating how much carbon they actually sequestered. This is unfortunate because pragmatically, carbon credits are our best hope of preserving our remaining forests. The Amazon rainforest being cleared for soybean planting. Mato Grosso state in western Brazil, Oct.…
The post A New Carbon Credit Standard Brings New Hope To The Market appeared on BitcoinEthereumNews.com.
There has been controversy surrounding the forest carbon credit market. Some project developers have been seen as cheating the system by overreporting the amount of carbon sequestered, which allowed them to earn greater revenue from carbon credit sales. We take for granted that nations have to destroy their forests to develop, but carbon credits offer another way. Countries need money to build energy infrastructure, roads and bridges, fund hospitals and universities, and with programs funded by carbon credits, they can develop without destroying their countries. Carbon Credits offer alternative revenues to the government and local communities. This allows a country to develop without destroying its natural resources. Deforestation in Cambodia. Densely canopied forest is destroyed in the pursuit of economic … More development. Wildlife Alliance This is how carbon credits work: they are coupons that represent some amount of carbon that has been stored in a patch of forest. Corporations can buy these coupons to help them achieve their net-zero commitments. Governments of developing nations can sell carbon credits and earn revenues to develop sustainably. The forest carbon credit market has been heavily criticized, saying that corporations who buy carbon credits are only greenwashing their image. Some criticism has been fair. We acknowledge that there have been enough projects with flawed baselines to justify scrutiny from the press. Some project developers have applied the methodologies in a sloppy way, prompting heavy scrutiny. There have been enough examples of poor integrity in carbon accounting to have delegitimized the wider system in the eyes of many. This led to cynics believing that everyone was overstating how much carbon they actually sequestered. This is unfortunate because pragmatically, carbon credits are our best hope of preserving our remaining forests. The Amazon rainforest being cleared for soybean planting. Mato Grosso state in western Brazil, Oct.…
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