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The UN Carbon Market

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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

Regulating Plastic Pollution | Earth Wise

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Much of the world is united in the desire to do something about the problem of plastic waste.  But putting in place regulations that transcend national borders is complicated.

One hundred fifteen countries have established bans on plastic bags, but globally, there are seven different definitions of what is considered a plastic bag.  Things like bag thickness can determine whether something even counts as a plastic bag.  These differences create loopholes that enable illegal bags to be used.  For a global company like Nestle, which sells food products in 187 countries, it means complying with 187 different sets of national regulations on plastic packaging.

At least 100 nations have expressed support for a global plastic treaty.  Preliminary talks are dealing with issues like setting a specific date to eliminate plastic from spilling into the ocean, creating a harmonized set of definitions and standards, coordination of national targets and plans, and creating a fund to build waste management facilities where they are most needed in less developed countries.

New plastic waste is created at a rate of over 300 million tons a year.   To date, 75% of all plastic ever produced has become waste, and plastic production is expected to triple by 2050.

With public concern about plastic waste growing and increasing support by countries around the world, there is growing optimism that a global treaty to address plastic waste could be approved on a pace that could make a difference.  Negotiations for international treaties can drag on for a decade or more.  There is not that kind of time to spare in this case, so perhaps urgency will drive more efficient action.

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Global treaty to regulate plastic pollution gains momentum

Photo, posted February 3, 2015, courtesy of Thad Zajdowicz via Flickr.

Earth Wise is a production of WAMC Northeast Public Radio.

WAMC Northeast Public Radio

WAMC/Northeast Public Radio is a regional public radio network serving parts of seven northeastern states (more...)