Buying cheap carbon-dioxide credits on the hush to wash polluting behavior needs to stop.
Forest nations are processing rich-people’s greenhouse gas emissions largely for free.
This is not small processing. This is big processing.
By processing, I mean the trees use the CO2 to grow and live.
WRI: Research, published in Nature Climate Change in 2021 and available on Global Forest Watch, found that the world’s forests sequestered about twice as much carbon dioxide as they emitted between 2001 and 2019. In other words, forests provide a “carbon sink” that absorbs a net 7.6 billion metric tonnes of CO2 per year, 1.5 times more carbon than the United States emits annually.
So at today’s 2026 nature carbon price of $9.68/ton on ICE (not the perfect contract to use, but let’s go with it) that’s $73.6 billion a year.
Rich folk buy at this price and I’m not saying that’s bad. It’s good. But if there were no supply at this price, everyone, including me, would have to pay more.
At a fairer carbon price based on economists’ views of the damage being caused to global society of toward $100/ton, that’s $760 billion per year. $50 a ton would be a good start.
This crazy wealth transfer that is taking place every year has always been there since pollution started, but forest-nation taxpayers deserve much better.
Their choice to protect the forest for free is saving our collective asses, for now.
Over the past 30 years, following a UN agreement to prevent climate change, the transfer amounts to $23 trillion based on the maths above.
Now that European war prices for fossil-fuels has come down, it might be a good time to adjust global markets.
I’m hearing rich-country “climate envoy leaders” said at UN climate talks a few weeks ago that they can’t afford to pay it.
That is bullshit of the highest order. The world can’t afford the current unfairness to extend. Buy a Tesla and decarbonize your grid, as you should have done years ago. Te-da! No carbon, no need to pay.
Let’s stop pretending this isn’t a choice. That’s exactly what it is.
The point of making polluters pay is so they will change their behavior.
I’m seeing and hearing that Africa might be doing this first and I’ll update this with any news. See below LinkedIn snips and a link.
Glen Brittle … you are not helping
See this on Carbon Pulse COMMENT: One Planet, One Paris Agreement, One Carbon Standard and Accounting System