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Climate Articles
Why Buy Carbon Credits?
Each of us unavoidably has a carbon footprint. With all the information science has provided, we can no longer claim ignorance on the issue of global warming and immediate action is required to avoid some of the negative consequences of our actions.
We all need to find ways to reduce our energy consumption in the long term. But, the situation also requires immediate attention and buying carbon credits is the best and easiest way to negate the effects of greenhouse gases.
Carbon credits are a way individuals can completely eliminate their personal impact on the environment. Each carbon credit purchased represents one tonne of carbon dioxide that is removed from the atmosphere or saved from being emitted. It takes just over five trees being planted to create one carbon credit over a 100-year period.
What to look for when selecting carbon credits?
When buying carbon credits, it is essential that grand aspirations to save the world do not get in the way of level-headedness. Any money you spend should not merely represent a vague aspiration to offset emissions. Carbon credits are genuine retail products and you should make sure you know exactly what you are paying for. In any marketplace, there will always be companies who attempt to swindle the customer, but, with a bit of helpful advice, environmentalists can make the right decisions to help reduce their carbon footprint. After all, where the environment is concerned, there is simply no room for mistakes.
When purchasing carbon credits, there are five essential steps that must be taken.
1. Check that the company is certified and reliable
Don’t be caught out by the difference between carbon offsets and carbon credits. In the same way that street sellers advertise fake brand name products at inflated prices, there are some retailers who may offer naive consumers uncertified carbon offsets without informing them of the difference. Without certification, there is no guarantee that you will get what you paid for. The money that you thought was saving the world may just have been pocketed.
Even if a company is certified, it must be remembered that not all certifications are equal. In particular, make sure that endorsement comes from a trusted third party source, such as carbon credits under the New South Wales Greenhouse Abatement Certificates (NGAC). These credits, generated, traded and regulated under NSW law, each abate a single tonne of carbon dioxide for 100 years (a stronger requirement than for a Kyoto-compliant credit, where abatement length is only 30 years).
2. Know where your money is going
While there are established companies who will give you exactly what you paid for, others are making massive profits from carbon trading for very small expenditure.
When selecting a carbon emissions reductions company, buyers must make sure they have information on finances readily available. This would preferably be provided in a clear format on their website, complete with specific percentages on where the money is being spent, as opposed to vague pledges and promises of trustworthiness. Transparency and accountability are two key things to look for in a company that sells carbon credits.
3. Ensure there will be a transfer of legal ownership
Like any other product purchased, when you buy carbon credits, legal title of these should be passed to you. This transfer should not only be taken by agreement with the company but also confirmed by the formal transfer of NGACs within an online registry at www.ggas-registry.nsw.gov.au.
You should be provided with an account at the NSW Greenhouse registry, where you can keep an eye on the carbon credits you are accruing and compare these with your daily emissions.
4. Make certain there are real emissions reductions being made
Just because you are having money taken out of your bank account doesn’t necessarily mean that you can rest easy. In the past, companies and individuals with idealistic views of “going green” have pumped millions of dollars into projects that have little, if any, environmental benefit.
With the recent increase in focus on environmental issues, the escalating market for carbon credits is set to more than double in size to about $68.2 billion by 2010. Now, more and more companies are getting in on the boom, driven by the aim to make profits rather than to make a difference. Many of these new companies, despite setting their sights high, have little idea of how the market, or indeed the carbon credits themselves, operate. Investigations have even suggested that some people and organisations are paying inflated sums of money for emissions reductions that do not take place.
It’s always best to go for a company that is established and well-known - a department store over a dingy corner shop. Try contacting respected carbon emissions reduction companies. PROMOTIONAL such as Carbon Planet. For more information on this subject, see www.carbonplanet.com for information on events and companies that work with Carbon Planet.
5. Ensure you are easily able to unsubscribe and change your plan
When signing up to reduce or completely eliminate your carbon footprint, you must keep in mind that circumstances change, especially if you are taking action to reduce your carbon footprint. A quality carbon emissions reduction company will allow you to “unsubscribe” from your contract (if you have a contract) or change your subscription at any time. If offered, this policy will typically be mentioned on the company website.
Purchasing carbon credits can be a daunting process, especially if you are not quite sure where to start. Make sure to keep your grand fantasies of saving the world in check and keep these five simple steps in mind. After all, when saving the world, there’s simply no way you can go wrong.
Remember, you can be the change.
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