The suggestion made in headlines, such as the one below the carbon credits won't reduce emissions - only obscures the good work that carbon-credit programs are capable.
Yes, it is the case. However, the tiny, voluntary tax that is carbon credits has not been a significant influence on the conduct of major emitters, especially when compared with the profits made from Click here for more the production of fossil fuels. It's likely that more affordable renewable energy sources are likely to have a larger impact on reducing our dependence on fossil fuels than taxes.
Today's emissions are a problem. To understand the importance carbon credits, we must move beyond the Income Statement and look at our Balance Sheet. The Carbon Debt we have in the long-term.
If Planet Earth was to keep an account of its balance sheet, and list our primary needs in the Asset column, as well as our long-term debt entries, our greenhouse gases that have been accumulated and our alarming levels of soil organic carbon loss due to our farms and the staggering levels of degradation in mangrove forests in the coastal zone, any reader would see that our current predicament is not due to a single year's worth of emissions.
This is the reason why I believe that any headline containing offsets of carbon or reductions in emissions can be misleading. The issues we're seeing with climate change aren't just due to carbon emissions. It could also be the result of decades (centuries) of poor agricultural practices. Poor farming practices, widespread deforestation, mangrove destruction , and pollution are but a few of the many errors that lead to climate change.
What is the extent of the damage to mangrove forests? Between 50% and 65percent of the world's mangrove forests have either disappeared or become seriously degraded. In many areas of the globe, agricultural land has lost as much as 80 percent of their organic soil carbon content to the point that food security may be in danger.
It is time to shift our thinking away from the "triple bottom-line" and towards the accrued balance sheet debt. Carbon credits can be considered as a "balance sheet adjustment item" that is a part of the total debt and not simply a tax on the current emissions. A(carbon) credit can be used to lower the (carbon) debt.
What can be done to reduce the burden of this debt?
It's not hard to find the answers. Here's an example. CarbonNation BLUE is an CarbonNation fund. This fund focuses on one easy, yet effective goal: to restore and protect mangroves. In order to scale up these mangrove forests, you need massive funds. A forest of 15,000 hectares will need to be replanted and the cost will be between USD2,500 to USD4,500 for each hectare. In addition, it will require three years of meticulous cultivation and the support of local communities.
It is also necessary to create more effective algae-based fisheries for the nearby area so that any phosphorus and nitrogen waste can be removed as well as the quality of produce can be improved.
When the forest matures and plants grow and carbon credits are created. These carbon credit can be used to return principal, plus a dividend to investors. What is the upside to these benefits to the financial? Mangrove cover increases, which means the same amount of fish (fish reproduce in mangroves as it keeps them safe from predators) which is one of the main income sources for many coastal communities.
Mangroves with higher density offer protection against coastal erosion and rising tides. As almost everyone already knows that mangroves offer more than 50 times the carbon sequestration than low-density trees. Yes, technology that takes carbon from the atmosphere and then storing it in the ground is modern, but mangroves have been providing millions of people with this service and providing food to the entire community for a long time.
The fund has been able to secure substantial funds and partnerships, more parties are encouraged to contact it.
The article is actually very well written. However, my problem is the negative tone and the misinformation in its headline. Based on the content of the article suggests that the editor could have changed or added the headline.