Dec. 4, 2021 — CarrZee comment: The buyer is “real” and I’m the one assuming a carbon price of about $7 a ton in the headline.
He / she who bought at this price might have reasons I don’t know about.
People, not technology, are behind these deliberate decisions to pay this much. People are behind decisions to market themselves as saving the planet.
Marketing strategies and credible carbon markets are very separate things and should not be conflated without a whole lot of care, Mr / Ms / Miss Save Planet Earth…(bet you it’s a bloke — oh yes, see below – email@example.com if Im not right).
Aaaand it’s based in greenwash global headquarters …the UK…I think.
Having a global carbon price would help sort this out. Do you hear of anyone paying $70,000 for a $70 barrel of crude oil?
See this level-headed post by:
Reporter, Co-founder & Asia-Pacific director at Carbon Pulse
A UK-based crypto venture has sold a single carbon credit for a whopping $70,000. Packing carbon credits as unique NFTs (non-fungible tokens), “Save Planet Earth” has now netted a handsome $220,000 from the sale of just 66 carbon credits.
However, it has yet to make public where the credits stem from, with their followers excused if they thought the offsets were from Save Planet Earth’s own projects, which it is promoting very actively.
However, they have in fact been generated by a forestry project in Indonesia that generates some 4 million credits per year, trading in the market at roughly $15 each, give or take. Save Planet Earth is now selling those at a minimum $1,200 a pop.
The carbon market is getting a bit jittery about crypto, justified or not. This is likely not going calm many nerves.
Save the Planet team:
This much influence is a worry if it’s used badly:
See…Crypto exchanges ‘thought they could throw a fastball’ by the SEC, but enforcement is coming, Chairs Gensler, Clayton warn