12. Carbon Offsets: One Quandary After Another
Pricing Nature
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A Carbon Credit to Offset Omissions
A carbon credit is a unit that says, i have neutralized one ton of carbon dioxide equivalent from the atmosphere. The first party counts that reduction for themselves; second party would not have reduced their omissions without being paid for it. A carbon credit neutralizes one ton ofcarbon dioxide valent because we might be talking about other greenhouse gases like methine or nitrous oxide. We convert other gases into their carbon dioxide equivalents in terms of their contribution to global warming.
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