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Carbon offsetting and carbon trading. It’s now considered a key way for businesses to slash their carbon footprint and fight climate change.
But where did it start and why is it deemed so critical in making our firms greener?
BlueSphere Carbon’s Shidan Gouran explains that “checks and balances” are the only way we’ll ever cut our carbon footprint – knowing exactly how much carbon we’re removing or sequestering.
This is only possible with a credible marketplace, he explains.
It’s an idea that has had its critics, with many stating that it’s difficult to validate the genuine impact many of these ‘offsetting’ schemes have.
“The qualms with greenwashing are very real. The fact that a carbon credit can be generated for pennies and then sold by a broker for many dollars is a big problem. As these are normally indigenous lands, where the people who are actually generating it aren’t necessarily getting the bulk of the money for it,” Mr Gouran says.
So how are regulators clamping down on this to make sure that carbon credits become credible and how is the market evolving to match demands?
Listen to the full episode above to find out.