The suggestion made by headlines such as the one below (from an article in the Wall Street Journal article*) - that carbon credits will not cut emissions - is just a way to further cloud the good efforts that carbon credits programs are capable of accomplishing.
It's true that an insignificant, voluntary tax, such as carbon credits, is unlikely to have an impact on major emitters' behavior, especially when compared to the profits from producing fossil fuels and releasing carbon. It's likely that renewables with lower prices will, in time, be more effective on reducing our reliance on fossil fuels, rather than taxing carbon emissions.
Our emissions today are a major issue however, to appreciate the significance of carbon credits, we need to look beyond the Income Statement and look at the Balance Sheet. Particularly, we need to look at our carbon debt in the long run.
If Planet Earth were to maintain the Balance Sheet, we were to list in our Asset column the basic needs we have including food security, physical security, availability of water, etc... as well as then in our long Team entry for debt, the accrued amounts of greenhouse gas and the extreme rate of soil organic carbon loss from our farms, and the astonishing degrading of our most efficient carbon storage areas mangrove forests on the coast It is evident from any examination of the balance sheet that our present predicament is not the result of a single year's emissions: if this were a company's balance statement, insolvency would surely be on the table.
This is the reason why 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 due to carbon dioxide. It can be due to decades (centuries) of inefficient farming practices. poor farming practices, massive deforestation, mangrove destruction , and pollution are just one of the many sins that contribute to climate change.
How much damage has been caused? Mangrove forests ranging from 50% to 65% have either gone completely, or are seriously damaged. The farms in many regions of the world have lost as much as 80 percent of their soil organic carbon to the point at which food security is under threat.
It is crucial to shift our attention away from the triple-bottom line, and instead focus on the credit that is accrued in the balance sheet. Think of carbon credits more as an adjustment to the balance sheet relating to total debt instead of a tax on current emissions. Credit (carbon) which can be used for the reduction of (carbon] debt.
What can be done to reduce the amount of debt?
It's not difficult to discover the answer. Here's an example. CarbonNation Blue CarbonNation BLUE, an initiative of the CarbonNation fund, was designed to accomplish a task that is very simple and highly effective protecting and restoring mangroves. To build mangrove forests, they require substantial funds. A forest of 15,000 hectares will need to be replanted and the cost will be between USD2,500 to USD4,500 per hectare. In addition, it will require three years of diligent cultivation and the support of local communities.
Additionally, the local fisheries onshore must be provided with better techniques for removing algae to ensure that phosphorus and nitrogen can be removed from the water and produce improves.
Once this time has passed, the carbon credits are Take a look at the site here created. Carbon credits can be used to repay of principal as well as a return of the investment to investors. This also includes the community, which are the principal investors at the beginning. Apart from the financial benefits, what are the upsides? An increase in mangrove cover will lead to a greater number of fish. This is because mangroves keep fish safe from predators. This is among the primary source of revenue for many coastal communities.
Higher protection from rising waters and erosion at the coast can be achieved through the use of more mangroves. Mangroves are able to store carbon fifty times the rate of forests with low density and are well-known to the general public. Yes, machines that draw carbon from the atmosphere and then store it in the ground look futuristic. However, mangroves can do this for millions years and supply us with food.
Fund has secured significant funding in addition to other partnerships to help support the initiatives. However, any additional partners are always welcome to reach out to the fund.
*This article is very well-written, researched, and I have a problem with the headline. Based on the text of the article, I believe it may have been modified or edited by the editor, rather than by the journalist.