Because of bogus carbon offsets, European scheme to let polluters buy credits resulted in more harm to the environment
Wilson Dizard @willdizard –  A United Nations-backed carbon-trading scheme in Europe, originally meant to combat global warming, has instead resulted in the release of more than half a billion additional tons of greenhouse gases, according to a new report.

The Stockholm Environment Institute (SEI) report released Monday found significant problems with the efficacy of carbon offsets. The researchers found issues with 75 percent of 872 million offsets, and point to a lack of oversight as the main problem. 

“We know what rules are needed and then we need the political will to implement them,” Anja Kollmuss, one of the authors of the study, told Al Jazeera. “And so far this has been lacking.”

The Joint Implementation (JI) carbon-trading scheme, established under the Kyoto Protocol, may have “seriously undermined global climate action,” researchers said. Faults in JI have released 600 million tons of carbon dioxide more than if the scheme wasn’t in place, the report said.  

“This study focuses on that part of JI that is not subject to international oversight, but is instead left up to the individual countries to administer and ensure integrity,” Julia Justo Soto, head of the UN’s Joint Implementation Supervisory Committee, said in a release Tuesday.

Soto recommended that the enforcement “mechanism in future be run under a single track with international oversight.”

Carbon-trading markets let companies in certain industrialized countries earn the right to emit greenhouse gasses by funding offsets elsewhere, like cleaning up combustible piles of abandoned coal mine waste. In theory, this will keep the total emissions under goals set by the European Union, but the plan only works if the offsets make a legitimate reduction in emissions. The SEI study found many do not. 

For some companies, buying the right to pollute with offsets is often cheaper than refurbishing their own polluting facilities — like coal-fired power plants or chemical plants that can emit greenhouse gasses more dangerous than carbon dioxide. 

To Lukas Ross, a climate advocate at Friends of the Earth, the cap-and-trade system was doomed to fail from the start. He said it could even lead to environmental injustices.

“This is another nail in the coffin for Wall Streets solution to the climate crisis,” Ross said. He prefers a direct tax on carbon emissions.

Please read on from source by Wilson Dizard @willdizard

DISCLAIMER: Environmental, Health and Safety News is not affiliated with or maintained by ANY for profit or non-profit entity. It is a 100% volunteer effort free from advertising or sponsorship of any kind. This site is intended to be an educational and not-for-profit website providing useful information for security, environmental, health, sciences, transportation, and public safety professionals and the general public. It is not “for the purpose of trade, to induce the sale of any goods or services.”
In the Webmaster’s opinion, any incidental use of any pictures and graphics, or quoted words on this site is not a violation of any trademark for the any reasons stated above. The webmaster will fully cooperate with any and everyone that believes any section of the site are in violation of fair use.

The use of any and all copyrighted works in the creation of this site is, in the Webmaster’s opinion, protected by 17 USC 107 (see Creative Commons License below). If the owner of a copyrighted work used in the creation of this site believes that 17 USC 107 does not apply to the use of their work, the site’s creator will cooperate to the fullest extent possible.

FAIR USE NOTE: The site provides information of a general & public nature regarding national or other developments. None of the information contained herein is intended as legal advice or opinions relative to specific matters, facts, situations or issues. Additional facts, information or future developments may affect the subjects addressed in this site. You should consult with an expert about your particular circumstances before acting on any of this information because it may not be applicable to your situation. This site contains information and links to sites which are not owned or maintained by this site. This site is not responsible for the content, linked sites, and the views expressed on linked sites do not necessarily reflect our views or opinions. The information contained herein is provided for personal, non-commercial, educational, entertainment and informational purposes only and does not constitute a guarantee of information or facts. This site makes no claims, expressed, implied, or statutory regarding the accuracy, timeliness, completeness, or correctness of any material contained herein. Since the conditions of use are outside my control, the individual visitor is entirely responsible for determining the appropriateness and applicability of all information contained herein.

This website is licensed under a Creative Commons License.

Back to Top