Behind the Money
Could COP28 catapult the carbon credit market?
Dec 6, 2023
The podcast explores the potential of the carbon credit market to explode, benefiting different countries. It also discusses concerns about accountability and human rights issues in the unregulated market. The role of the UAE in carbon markets is examined, along with comparisons to Switzerland and Singapore. The challenges of carbon credits in Liberia are explored, including concerns about profit distribution. The risks of expanding the carbon credit market are discussed, including the potential misuse of carbon offsets.
19:06
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Quick takeaways
- The expansion of the carbon credit market could lead to significant growth and government involvement, raising concerns about the reliability of carbon credits and the potential for misuse.
- As carbon credits gain popularity, vulnerable countries like Liberia face the challenge of establishing legislative frameworks and taxation models to control carbon credit flows to protect their communities and ensure genuine emission reductions.
Deep dives
Blue Carbon's Expansion across African Forest Land
Blue Carbon, a Dubai-based company set up just last year, has garnered attention for striking significant deals with Kenya, Tanzania, Zambia, and Zimbabwe, securing millions of acres of African forest land. Unlike previous resource-extraction practices, Blue Carbon aims to preserve the forests, as it focuses on tapping into the expanding Carbon Credit Market. Carbon credits serve as permits for offsetting greenhouse gas emissions, with one credit equivalent to one ton of carbon removal. The potential market growth and the need for carbon removal to meet climate goals make this a potential win-win situation. However, concerns arise regarding accountability, human rights, and the equitable distribution of profits.
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