A carbon offset is a financial instrument representing a reduction in greenhouse gas emissions. Although there are six primary categories of greenhouse gases, carbon offsets are measured in metric tons of carbon dioxide-equivalent (CO2e). One carbon offset represents the reduction of one metric ton of carbon dioxide, or its equivalent in other greenhouse gases.
There are two primary markets for carbon offsets. In the larger compliance market, companies, governments or other entities buy carbon offsets in order to comply with caps on the total amount of carbon dioxide they are allowed to emit. In 2006, about $5.5 billion of carbon offsets were purchased in the compliance market, representing about 1.6 billion metric tons of CO2e reductions.
Current issues
The carbon offset market worth about £60m worldwide, up from £20m in 2005. Within three years it is expected to top £300m, as a growing number of organisations and companies race to declare themselves "carbon neutral".
Concern is growing that the demand for offsets is allowing projects to claim savings they do not deserve, which are then sold on as "carbon credits". A tree planting or windfarm project reckoned to save up 30,000 tonnes of carbon could sell an equivalent number of carbon credits for about £3 each. To provide a true carbon saving, the developers of such projects must demonstrate that it would not have happened without the investment raised by selling such credits, called additionality. The saving is then worked out against what would have happened, the baseline.
Main Problems
Unethical carbon offset companies sell you trees or a stake in a renewable energy project. The problem is that the renewable energy projects already exist and that the trees in most cases would have been planted anyway by the carbon offset companies' planting partners. Neither the trees nor the renewable energy projects appear to remove any additional carbon dioxide (CO2) from the atmosphere. Those buying offsets are simply subsidising existing project. If the carbon offset companies created their own projects or planted their own trees, then their marketing claims would carry more weight. All trees will eventually die, root and release the carbon dioxide stored in each tree back into the atmosphere. While planting trees is a good thing, it is therefore not a permanent solution. And over the long term this will invalidate the carbon neutral claim.
International Perspective
a mid-sized 30 mpg car driving 12,000 miles/year will create about 3.55 tons of CO2/year. Using the carbon calculator of one of the companies which are listed here, we figured this would cost only about $19.50 or $1.63/month to be offset! It is up to each of us to clean our own mess, obviously the government can't and won't do it (alone). Signing up with any of these programs might effectively reduce your CO2 contributions to ZERO! (All prices in US$ or British Pound where indicated)
Russia has declared that it will not sell surplus carbon emission permits to other countries and will stockpile about $58 billion worth of the Kyoto carbon credits. It plans to use these surplus emission permits under the next climate treaty.
Gallery
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Future Solutions
Government can influence behaviour at both the individual and corporate level by sending clear signals about what we need to do. That’s why we’re campaigning through The Big Ask climate campaign for the UK Government to introduce a strong climate change law which commits the UK to making annual reductions in the UK’s carbon emissions across all sections of society (homes, transport, business, industry etc), creating the framework necessary to allow the solutions to climate change to flourish, i.e. clean energy, well designed cars, a 21st century public transport system, help for people to make their homes thermally efficient, technological and financial assistance to developing countries. A strong law would allow the UK to do its fair share3 of cutting global emissions and would set an example the rest of the world could follow.
For companies to invest in new carbon-saving products they need to be confident that the Government is determined to move towards a low-carbon economy. The greater certainty that would arise from setting annual targets for CO2 cuts would help achieve this. This would encourage businesses and individuals to reduce emissions at source as much as is practically possible by looking at energy conservation and efficiency measures (e.g. using more efficient vehicles, solar heating for water, etc). The problem with carbon offsetting is that it makes it harder to persuade people to actually reduce their emissions at source. We need to fly less, buy less, regulate polluters and support communities affected by pollution and climate change.
Disputes
All trees will eventually die, root and release the carbon dioxide stored in each tree back into the atmosphere. While planting trees is a good thing, it is therefore not a permanent solution. And over the long term this will invalidate the carbon neutral claim.
It is a scientific fact that If you plant 100 trees, an average of 5%-10% of the trees will die within the first 10 years. This is due to diseases, pest and animal attacks, handling errors, climate and so on. It is therefore very likely that the volume of trees sold will be unable to absorb the expected volume of CO2 and hence, make an activity carbon neutral.
This again means that the trees sold are unlikely to absorb the predicted volume of carbon throughout the life cycle of the tree, as claimed by the carbon offset companies.
Good Links
• http://www.carbonneutral.com/
• http://www.carbon-offsets.com/
• http://www.carbonfootprint.com/
• http://www.carbonearth.co.uk/carbon-offset.asp
• http://www.co2balance.uk.com/
Just images
Future Solutions
Government can influence behaviour at both the individual and corporate level by sending clear signals about what we need to do. That’s why we’re campaigning through The Big Ask climate campaign for the UK Government to introduce a strong climate change law which commits the UK to making annual reductions in the UK’s carbon emissions across all sections of society (homes, transport, business, industry etc), creating the framework necessary to allow the solutions to climate change to flourish, i.e. clean energy, well designed cars, a 21st century public transport system, help for people to make their homes thermally efficient, technological and financial assistance to developing countries. A strong law would allow the UK to do its fair share3 of cutting global emissions and would set an example the rest of the world could follow.
For companies to invest in new carbon-saving products they need to be confident that the Government is determined to move towards a low-carbon economy. The greater certainty that would arise from setting annual targets for CO2 cuts would help achieve this. This would encourage businesses and individuals to reduce emissions at source as much as is practically possible by looking at energy conservation and efficiency measures (e.g. using more efficient vehicles, solar heating for water, etc). The problem with carbon offsetting is that it makes it harder to persuade people to actually reduce their emissions at source. We need to fly less, buy less, regulate polluters and support communities affected by pollution and climate change.
Disputes
All trees will eventually die, root and release the carbon dioxide stored in each tree back into the atmosphere. While planting trees is a good thing, it is therefore not a permanent solution. And over the long term this will invalidate the carbon neutral claim.
It is a scientific fact that If you plant 100 trees, an average of 5%-10% of the trees will die within the first 10 years. This is due to diseases, pest and animal attacks, handling errors, climate and so on. It is therefore very likely that the volume of trees sold will be unable to absorb the expected volume of CO2 and hence, make an activity carbon neutral.
This again means that the trees sold are unlikely to absorb the predicted volume of carbon throughout the life cycle of the tree, as claimed by the carbon offset companies.
Good Links
• http://www.carbonneutral.com/
• http://www.carbon-offsets.com/
• http://www.carbonfootprint.com/
• http://www.carbonearth.co.uk/carbon-offset.asp
• http://www.co2balance.uk.com/
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