The suggestion, made by headlines such as this one (from a Wall Street Journal Article*) that carbon credits won't reduce emissions is a attempt to hide the positive work that carbon credit programs have achieved.
Yes, it is the case. But, the tiny voluntary tax of carbon credits has not had any significant impact on the actions of many major emitters, especially when contrasted with the earnings from producing fossil fuels. It's more likely than not that taxing carbon emissions can have a greater impact on reducing dependence on fossil fuels.
Our emissions today are a major issue However, in order to comprehend the significance of carbon credits it is necessary to stop looking at the income Statement - and start looking at the Balance Sheet. And more specifically, our Long-Term Carbon Debt.
If Planet Earth was to keep a Balance sheet and listed our primary needs in the Asset column and also our long-term debt entries our greenhouse gas emissions that we have accrued, our extreme levels of soil organic carbon loss from our farms and the staggering destruction of mangrove forests along the coast, any reader would see the fact that our current situation is not the result of a single year's worth of emissions.
This is the reason I believe any headline that mentions offsets of carbon or reductions in emissions can be misleading. The problems that are being faced by climate change aren't just caused by carbon emissions. It can be due to years (centuries) of poor agricultural practices. Mangrove removal, pollution and other errors are all part and parcel of the issue.
What is the extent and severity of the damage? 50% to 65percent of the mangrove forests in the world have disappeared or been seriously degraded. Farmlands in many parts around the globe have lost more than 80 percent of their soil organic carbon - to the point where food security is in danger.
This is the reason it's essential to shift our focus on the triple-bottom line and the accrued credit in the balance sheet. Consider carbon credits as a "balance sheet item for adjustment" in relation to the total debt, not simply a Discover more here tax on today's emissions. A credit (carbon) is a credit that could be used to reduce the amount of (carbon] debt.
How can we reduce the burden of debt?
It's not hard to find the answers. Here's an illustration. CarbonNation's family of funds has established a CarbonNation Blue fund to help restore and protect mangroves. These mangrove forests need significant funding in order to scale. For instance the 15,000-hectare mangrove that must be planted will require between USD2,500 and USD4,500 per hectare. It also requires three years of careful cultivation by the local communities.
In addition, the nearby onshore fisheries will need to be provided with more effective algae-based filtering solutions so that the nitrogen and the phosphorus waste that is produced are eliminated and the quality of produce can be improved.
After this time when the forest is mature and the algae plants begin to grow carbon credits are generated and can be used to return the principal plus a return on investment to the investors, including the community, who are the main beneficiary of the initial stage of investment. What are the benefits? A higher mangrove cover will yield more fish, which is a major source of income for many coastal communities.
Mangroves with higher density offer protection against rising tides and coastal erosion. Mangroves are 50 times more efficient in carbon sequestration than low density forests, something that almost everyone is aware of. While the machines that extract carbon from the atmosphere and underground storage are futuristic looking Mangroves have been doing this for thousands of years and decades and continue to supply our bodies with food.
The fund has already received significant funding and partnerships for its efforts. Partners are encouraged to contact us.
*This article was actually well-written. However, my problem is with the negative tone and misinformation in the headline. This, based upon the text of the article suggests that the editor may have added or changed the headline.