📢 The science is clear: carbon offsetting is not reliable for tackling the climate crisis. We've joined 80 civil society organisations to call on climate target-setting bodies including @sciencetargets to stick to science. Read our joint statement: https://lnkd.in/dmA_5mRs
We need to mobilize an extra 3.5 Trillion usd every year to climate mitigation. What is your solution? Have you ever worked with someone who invested in biogas, solar power or nature based solutions? Have you ever done a feasibility analysis and tried to convince a bank for a loan to these technologies? Get real. Science helps us to show how much we need to reduce and it is up to us to create innovative finance to reduce and remove the GHGs.
This letter seems to be focused on tree planting/nature based initiatives and negates to acknowledge emerging solutions like the production, sequestration and use of biochar. This technology is backed by science and has an established baseline...this will continue to evolve and the industry accepts it is of course not absolute. Biochar is it is not just a carbon sequestration tool, but also a tool to reduce methane, nitrous oxide and ammonia in the agricultural sector....so why shouldn't companies in this sector be able to purchase biochar offsets against their scope 3 emissions? By lumping all 'carbon credits' into one narrative you thwart efforts by those of us that have climate solutions that will help reduce and remove ghgs.
We fully support this call for science-based targets and a focus on carbon reduction not offsetting. The 4 reasons outlined in the statement echo our views on why offsets should not be the focus of any corporate carbon reduction plan. As part of the carbon accounting community, we will be pushing the SBTi and other standards bodies to focus on reducing emissions, and not to allow offsets to account for more than the current level of 5-10% of emissions.
What’s the alternative? One possibility is mobilizing the law to mandate the movement of the tens of trillions in fiduciary money aggregated into social trusts to socially provision the social safety nets of Workplace Pensions and Civil Society was a new planetary commons out of Private Ownership for profit extraction through gain on sale/exits in the Capital Markets and into Social Stewardship through negotiated agreement on equity paybacks to create a new 21st Century planetary citizenship in this 21st Century planetary commons for holding the fiduciary stewards of these commons accountable for care (prudence) and caring (loyalty) in their exercise of plenary powers of discretionary authority to choose who they can, should and do negotiate with, and what they can, should and do negotiate for.
Brad Kahn the need to raise money for nature based solutions is a problem that needs to be solved. That is a real and urgent challenge. But a corrupt solution cannot be used to meet that moment. We must use some means other than saying to giant wealthy corporations: Hey, you can do almost nothing (buy offsets), they are cheap and easy, and have little to no effect, AND you then get to claim to be net zero.
Reduce at source through alternative materials. Invest in sustainable energy, particularly AD. Trying to squirrel CO2 away will haunt future generations whilst doing nothing to abate production.
Https://magictribe.one > the answer if we can gather proper funding > very serious about this…
Yes I agree, carbon offsetting is unreliable because essentailly nature can not be quantifiable. The profit chasers disregarded any value for nature and left it unaccounted for when really there is no argument against externalities in economics...its time for these polluters to pay up according to the 'polluters pay' priciple and there's lots of backdating to be paid up from the point of when we first discovered climate damage due to human activity, and perhaps Alexander Humboldt was this person. Climate reperations!
Communications | Nature-Based Solutions | Climate Change | Forests | Biodiversity
2wWhat alternative do you propose? A meaningful price on carbon emissions was suggested above, but how (outside the EU)? This open letter is damaging and delaying the meaningful climate action we need now.