carbon trading

The UN Carbon Market

January 13, 2025 By EarthWise Leave a Comment

The UN climate conference in November approved an official market for large-scale trading of carbon credits. This will allow industrial countries to help meet their emission reduction targets set by the Paris Climate Agreement by paying other nations to protect and restore forests and carbon-rich peatlands.

The first major participant in this multi-billion-dollar enterprise is Indonesia. That country is home to the world’s third largest expanse of tropical rainforests and more than a third of the world’s carbon-storing peatlands. Indonesia’s government plans to raise up to $65 billion by 2028 by selling carbon credits accrued by restoring and protecting its forests and peatlands.

The problem with carbon trading is that it can be filled with loopholes ranging from inaccurate carbon accounting to outright fraud. Carbon trading with both individual companies and other countries can result in double- and even triple-counting of the same carbon.

For example, carbon credits are assigned when forests earmarked for agricultural or other development are preserved instead of being felled. But what if that forest destruction wasn’t going to happen even without selling carbon credits?

There are organizations in the business of verifying carbon accounting, but independent analysis of their methodologies has revealed serious shortcomings, and in many cases, the verifications have been deemed to be worthless.

There are real problems with carbon accounting and setting correct baselines for the carbon emission reductions associated with carbon credits. Nevertheless, the existence of a global carbon market can be an important tool in the world’s efforts to mitigate the effects of climate change.

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Will UN Carbon Market Work? Indonesia Will Provide First Test

Photo, posted June 12, 2017, courtesy of Runa S. Lindebjerg via Flickr.

Earth Wise is a production of WAMC Northeast Public Radio

A New Carbon Capture Technique | Earth Wise

August 25, 2020 By EarthWise Leave a Comment

Carbon dioxide emissions by electricity generating plants, fossil-fuel burning vehicles, and industry produce about 2/3 of the greenhouse gases driving climate change. Without decreasing these emissions, the earth will continue to get warmer, sea levels will continue to rise, and the world will face more droughts, floods, wildfires, famine and conflict.

Electrification of vehicles and reliance upon renewable energy sources will ultimately drastically reduce the use of fossil fuels and the resultant emissions, but that transition may take too long to reverse the direction of climate change. In the meantime, there is a great need to find effective and efficient ways to capture emissions from fossil fuel plants.

Recent research at the University of California, Berkeley, Lawrence Berkeley National Laboratory, and ExxonMobil has developed a new technique for carbon capture. The technique makes use of metal-organic framework (or MOF) technology. An MOF, modified with nitrogen-containing amine molecules, captures CO2 and then low-temperature steam is used to flush out the CO2 either to be used or sequestered underground.

Experiments demonstrated the technique to have a six-times greater capacity for removing CO2 from the flue gas of a refinery than current amine-based technology. It selectively removed 90% of the emitted CO2.

There is a relatively limited market for captured CO2, so power plants using the capture technology would likely pump the CO2 into the ground, or otherwise sequester it. The cost of doing this sort of emission scrubbing would have to be facilitated by government policies, such as carbon trading or a carbon tax, which would provide the necessary economic incentive for doing carbon capture and sequestration.

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New technique to capture CO2 could reduce power plant greenhouse gases

Photo courtesy of UC Berkeley.

Earth Wise is a production of WAMC Northeast Public Radio.