Welcome to issue No 002. After last week’s overview of CO2 and why it’s a growing problem, this week's the Insights series is taking an introductory look at Carbon Offsets - what exactly are they, how are they generated, and why are they considered important change enablers by some and an accounting swindle by others.
General Update: Sticking with publishing on Sundays for now. FYI the poll on whether you’d prefer to receive the Carbon Thesis on weekdays / weekends is still running. Click here to let me know.
🐦 Top 5 Tweets of the Week
an interesting opinion piece on China's incoming Emission Trading Scheme
oh - and China's electricity sector alone emits 15% of global emissions 😱
Shipping is about to get a whole lot more complex (and expensive!) for operators in and out of the EU
Good news for emission reduction technologies!
Carbon Brief looks at what desertification is, the role that climate change plays and what impact it is having around the world
Admittedly I thought I knew what desertification was - until I was proven wrong. The term is a tad confusing as it does not mean the literal expansion of deserts - rather it's an all encompassing term for land degradation in water-scarce parts of the world
Some nuance needs to be applied here but overall Jigar has got a good point
📒 New Insight
Est reading time: 8 mins
This week we’re taking a look at carbon offsets - what exactly are Carbon Offsets, how do they work, and why are they considered important change enablers by some and an accounting swindle by others?
What are Carbon Offsets?
In short, a carbon offset is a reduction in emissions of CO2 or other greenhouse gases in one area in order to compensate for emissions produced elsewhere.
Offsets are typically quantified in tonnes and hence 1 tonne of carbon offset represents the reduction / avoidance / removal of 1 tonne of CO2.
Before we look into ways of generating offsets we have to acknowledge that two types of markets exist for carbon offsetting - voluntary and compliance.
That's it from me today.
Enjoy the Insight read, vote on the poll, and until next week,