911爆料网

Firms can offset听their carbon dioxide emissions听by purchasing credits from projects around the world听that reduce emissions or remove carbon dioxide from the atmosphere.听These include wind and solar farms, as well as initiatives to preserve forests or grow new trees.听听

But, with 600 to 700 million tonnes of old carbon credits available, many of which are no longer considered听valid听in terms of offsetting,听real carbon reductions are under threat.听听

The Global Voluntary Carbon Market: Dealing With the Problem of Historic Credits, led by Trove Research with UCL Geography, says a听new governing body is needed to听deal with听the surplus听and听set strict rules on what counts as a carbon credit.听

With increasing commitments from countries听and businesses听to go 鈥榗arbon neutral鈥�, the report also predicts听the market for听carbon offsets could be worth up to $25bn听(拢18bn) a year听by 2030,听compared with just $0.4bn (拢300m)听today.听听

Study advisor听Professor Simon Lewis (UCL听Geography) said: 鈥淭he carbon offsetting concept relies on the environmental integrity of the credits 鈥� specifically that money paid for the offsets is used听to听reduce听emissions or capture carbon dioxide from the atmosphere.听听

But methodologies and standards for defining carbon offsets - and the rigour with which the standards are enforced - have evolved and greatly improved over time. This means that older credits may have been created under less stringent requirements but are still able to be sold in the market today. These older unclaimed credits should be retired as they cannot be considered an additional removal of greenhouse gases.鈥澨�

Report authors听support the commitments made by companies and individuals to reduce their carbon footprints, but听say听reform is needed听with听a mixture of regulation, improved standards and stimulating consumer-led demand to ensure only high-quality credits are purchased.听

At present, however, the surplus of credits accessible by the voluntary market is between seven and eight times the current annual demand, and the researchers estimate that this could increase to 15 times current demand if all听projects decided to issue their full credits.听听

Guy Turner听from Trove Research, lead author of the study,听said: 鈥淥ur analysis shows that听many听companies听are entering into the carbon market wanting to reduce their carbon footprint, but these intentions risk being undermined by听a听large volume of poor-quality,听legacy credits.听听

鈥淚t is in the interests of buyers听and听developers of carbon projects that this issue is managed appropriately so that revenue from the sale of carbon offsets is used to support new, high quality carbon reducing projects鈥�.听听

鈥淎bove all, it is critical that the huge volume of credits听created under听the Clean听Development Mechanism (CDM)听dating back to as far听as 2010,听is prevented from polluting today鈥檚听voluntary carbon market.听Methodologies and standards have improved since then, and these CDM credits should be ineligible for use in the听voluntary market after 2020.鈥澨�

The study authors suggest three potential routes to deal with legacy credits:听

1. Registry-led:听Registries would have a central role in the market, creating standards for defining and approving projects and authorising the release of carbon credits once verified by approved auditors, currently VERRA, Gold Standard, American Carbon Registry, Climate Action Reserve and Plan Vivo.听These organisations should also consider cleaning their registries of low-quality legacy projects, taking into account contractual obligations with developers.听听听

2. Governance body-led:听Discussions are ongoing about the creation of an independent governance body that would oversee the integrity of the market. Part of such an organisation鈥檚 role should be to decide on how to restrict the use of legacy credits.听听

3. Buyer-led:听A consumer-led approach could help limit the use of older, poor听quality credits,听with groups of carbon offset buyers agreeing to the highest standards of environmental integrity.听听

Study advisor Professor Mark Maslin (UCL Geography) said: 鈥淭he view of the study team听is that all three approaches are needed. Registries should take responsibility for cleaning up credits, whilst the new governance body should provide rules for registries and buyers of credits听alike.听

A buyer-led initiative could also be very effective in driving standards for both high ambition and the use of high-quality carbon offsets, where appropriate. All of these are required if companies are to have confidence that the carbon offsets they are buying will really reduce greenhouse gas emissions and ensure they fulfil their climate change pledges.鈥澨�

Links

滨尘补驳别听

Image from .

听

Media Contact听

听
Jane Bolger听

T:听+44 (0) 7990 675 947听

E:听j.bolger@ucl.ac.uk听听

听