Carbon credits represent a verified reduction of one metric ton of carbon
dioxide
(tCO2e) or its equivalent in greenhouse gases. Companies purchase these credits to offset
their own
emissions.
Carbon credits are generated by projects that reduce or remove greenhouse
gases
from the atmosphere, such as renewable energy generation, tree planting, and energy
efficiency
improvements.
There are various certification standards, carbon credit registries, and
regulatory
bodies, each with their own requirements and verification processes. Common examples include
the
Verified Carbon Standard (VCS), Gold Standard (GS), and the Clean Development Mechanism
(CDM).
The price of carbon credits varies depending on the type of project, credit
quality,
and market demand. Prices can range from a few cents to tens of dollars per ton.
The effectiveness of carbon credits depends on the quality of projects and
the
overall
integrity of the carbon market. While there are concerns about possible greenwashing and
lack of
additionality (reductions that would have occurred anyway), well-designed carbon credit
systems can
play a crucial role in mitigating climate change.
Purchasing carbon credits can be a way to contribute to emission reduction
efforts,
but it’s important to remember that individual actions and internal corporate goals, such as
reducing energy consumption and transportation emissions, are also crucial.
Several resources provide information on carbon credits, including the
websites of
carbon offset providers, certification bodies, and NGOs working on climate change. Reliable
sources
include:
- United Nations Framework Convention on Climate Change (UNFCCC).
- International Emissions Trading Association (IETA).
The regulated market involves countries with norms and laws mandating
emission
reductions. Periodic studies
and measurements indicate the need for compensation.
- Credit prices are monitored by legislators.
- Annual compensation is mandatory.
- Reduction targets are increasing.
- Some international credits are not accepted.
- Global targets are periodically adjusted.
The voluntary market, on the other hand, is driven by companies seeking to offset their
emissions ahead of regulations,
contributing significantly to preservation and enhancing their ESG metrics and commercial
image.
- Prices are negotiated based on the project, duration, and scale.
- It can receive various certification types.
- Extra attention to transparency and traceability is required.
- A good option for specific actions like events, construction, and products.
Both markets and all operations involving carbon credits are concerned with exposure to
fraud
and greenwashing. Maintaining reductions
with seriousness and commitment remains the focus of organizations and administrators in
these
markets.