Ep. 402 - Using Crypto to Fight Climate Change with Paul Gambill of Nori
CRYPTO 101
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Carbon Credits - And That's Just Double Counting
The idea was that western europe and so on would pay developing countries for retaining carbon inside their borders. But in practice, it ended at being mostly private companies who are buying and selling carbon offsets. The paris accords have led to every country having their own emissions reductions targets. So since every country has their own reductions targets, that means that even the developing countries now have to meet their reductions targets. It is still the case to day that if a project happens inside one country's borders and then it is exported, that carbon credit is exported and sold to a buyer in a different country. We believe that that's double counting. And it also introduces all sorts of potential for fraud and
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