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This is the classic problem with CO2 certificates. By its nature, the incentive with CO2 credits is to find the company who most optimistically thinks that the
by btilly 4y ago
This is the classic problem with CO2 certificates.
By its nature, the incentive with CO2 credits is to find the company who most optimistically thinks that the most CO2 can be removed for the least money. You then pay that company, and take a credit for how much CO2 that they think was removed. This is an incentive that rewards fraud.
In an effort to not become too fraudulent, the industry has created certification groups with names like Clean Development Mechanism, Verified Carbon Standard, Gold Standard, Climate Action Reserve, and American Carbon Registry. Each tries to look as respectable as possible, while being paid to sign off on credits.
Some environmental groups think it is worthwhile to work with these. So the WWF worked with Gold Standard and says it is best in class (though imperfect), and recommends against some others (particularly Clean Development Mechanism). Other environmental groups see the incentives for greenwashing as too bad to be involved with, such as https://www.greenpeace.org/international/story/50689/carbon-offsets-net-zero-greenwashing-scam/ https://www.greenpeace.org/international/story/50689/carbon-....
But the fundamental incentives are such that even the best programs will erode over time. Even if Gold Standard is good now (which is not obvious), I would bet money that it will not be as good in 10-20 years.
So, buyer beware.