Discover and read the best of Twitter Threads about #offsets

Most recents (11)

Big risk to Aus climate policy is that Labor scandals won't be the same outrage candy LNP's were.

Here's a @Bowenchris-appointed panel member recommending investment in the #offsets SHE IS REVIEWING. @crikey_news @BernardKeane…
Two other panel members work for corporations that profit from advising on the offset system THEY ARE REVIEWING.
One of them works for @EY_Australia and wrote this report to promote its carbon consulting arm:
The other works for Pollination, a company that "has its finger in every part of the carbon club" (eew!).
This includes financial advice to carbon offset developers and "serious money".…
Read 4 tweets
Day 1, #COP27: Bloomberg & Three Cairns Group announced the Global Carbon Trust (GCT) to scale #carbon markets. (VCM).

#TSVCM (Mark Carney) estimates that carbon markets must grow 15-fold by 2030 & 100-fold by 2050.

#NetZero #Forests #EmergingMarkets…
June 30, 2022: "World’s Biggest Ever #CarbonCredits Issue Planned in Gabon"

Nov 8, 2022: #Africa Carbon Markets Initiative (ACMI) launched at #COP27.

Profiting from pollution. #Privatization of nature.

"This is like Black Friday for climate change." - @johnsteppling
Bloomberg, Jun 2 2021: "If they generate a lower carbon benefit than they claim & the company is still emitting, well then you end up with more emissions than you would have otherwise. We have to be open to the idea that the voluntary market might fail."…
Read 4 tweets
There's a carbon rush currently going on in the #Pacific. All sorts of shady characters are being drawn to countries such as #PNG in search of striking gold in the form of 'green' and 'blue' carbon offsets generated by the regions vast forests and oceans...🧵
The sudden demand for carbon credits appears to be at least partly due to the Australian government's continuing support for the gas industry, and the need for cheap carbon offsets to greenwash their image and claim #NetZero emissions.
The predatory behaviour of some #carbon #offset project developers in the Pacific is an inevitable consequence of countries and companies scrambling to buy cheap offsets instead of leaving fossil fuels in the ground or making real reductions in their carbon emissions.
Read 8 tweets
Between June 2021 & January 2022, the price of “nature based” #offsets — such as those from tree-planting schemes 🌳🌳 — increased more than 3-fold from around $4.65 per tonne of #carbon to around $14.40, according to S&P Global Platts… #CCUS #NetZero
Interest in unregulated #offsets market, has grown with proliferation of #NetZero emission pledges since the #COP26 summit + rising pressure on curbing global warming. Expectations are the voluntary carbon market will grow this yr into a space worth $ Bn's…
Though #oil companies claim to use only “high-quality” #offsets as part of their #NetZero goals, monitoring millions of acres of forest is hugely challenging. Experience of recognised programs like UN’s REDD initiative = mixed at best…
Read 5 tweets
This statement is wrong, misleading, and dangerous. A thread 1/
With offsets, one entity continues to emit while another is paid to do something nice for the climate. #Offsets don't stop emissions. Offsets are the opposite of reducing emissions. 2/
The author seems to confuse #offsets with #removals. Don't do this. Yes, removals in forests and fields and grasslands are important to staying below 1.5C. But these are not offsets.
Read 9 tweets
1/5 New @IPBES @IPCC report promotes #NatureBasedSolutions, carbon and biodiversity #offsetting and #InclusiveWealth, the new neoliberal metric putting a price on nature and human life, but framed as a sustainable metric complementing GDP.

#Dasgupta… Image
2/5 "Where #NatureBasedSolutions are used as
carbon #offsets, they are most effective when applied
subject to strict conditions and exclusions"
=> In case anyone had any doubt left that #NatureBasedSolutions included offsetting
3/5 "For #biodiversity, the concept of #offsets, the substitutability among a slate of possible actions, can introduce the flexibility required to achieve multiple competing objectives at regional scale, if applied subject to strict conditions & exclusions"
Read 5 tweets
Feb 25 2021: "An expected dash by big corporations for #offsets to meet their climate targets has prompted financial exchanges to launch #carbon #futures contracts to capitalise on what could be a multi-billion dollar market."

#NetZero #EmergingMarkets…
"...their market is expected to grow to as much as $50 billion by 2030. Among the major corporations that say they expect to use them to compensate for any #emissions they cannot cut from their operations & products are #Unilever, EasyJet, Royal Dutch #Shell & #BP."
"The Institute for International Finance's Taskforce on Scaling Voluntary Carbon Markets, launched by U.N.’s Special Envoy for Climate Action Mark Carney" aspires to "create a multi-billion dollar offset market in the coming months."…
Read 5 tweets
This thread will follow Feb 5 2021 thread [India
#FarmersProtests Goes Vogue] exploring sudden #celebrity uptake - as gov't struggled to contain #resistance.

Here we can study #GlobalCitizen & structure/mechanisms of such NGOs, financed to serve corporate/imperial interests. ImageImageImageImage
#GlobalCitizen model: nurturing of #celebrity worship as a "pop & policy" model to harvest/exploit targeted youth demographic. Via partnerships w/ #Rihanna, celebrities, influencers, athletes, - it intends to become world's "leading international voice, educator, & influencer". ImageImageImageImage
#GlobalCitizen is the Global Poverty Project, Inc.
UK: "We are a sub recipient of funding from the #Gates Foundation (via Global Poverty Project Inc)."

2019: $8,445,887.00 "To mobilize global public support for the Sustainable Development Goals" #SDGs… ImageImageImageImage
Read 32 tweets
We can keep flying if we just offset the emissions, right? 💸➡️🌳

No, because so-called carbon offsets pose many problems and in most cases do not compensate emissions - on the contrary. #CarbonOffset #ClimateJustice

Let us explain. Thread. ⬇️ Image
What are offsets?
#Offsets are projects meant to reduce emissions that occur elsewhere. #Offsetting projects are mostly located in countries of the Global South. Many of them are hydroelectric projects, claiming to prevent production of energy from fossil fuels.
Also forest conservation projects, operators of tree plantations, or organisations that distribute climate-friendly cooking stoves to women in rural parts can sell offset credits.
Read 14 tweets
While our focus has understandably been on the #AustraliaBushfires and the #Adani #coal project, another huge mine is due to be built soon, right on top of @BimbleboxNR…
@BimbleboxNR This project has been granted State and Federal environmental approval, largely on the proviso of that impacts on @BimbleboxNR and its biodiversity will be "offset". I've described these issues here:
Apart from the issues with #offsets, can I just remind you that @BimbleboxNR is a privately owned and managed protected area, that the Queensland Government formally recognised for its biodiversity values…
Read 11 tweets
This story in @smh describes the upcoming @EDOLawyers challenge on the proposed China First/Galilee Basin #coal mine on @BimbleboxNR , but doesn't say much on the offset (thread) 👇… Image
@smh @EDOLawyers @BimbleboxNR Back in 2013, @martine_maron and I wrote a piece in @ConversationEDU examining the China First mine’s proposed offset for @BimbleboxNR. In _very_ simplistic terms, the nature refuge is 8000 hectares of reasonably intact native vegetation.… Image
You can find the project’s Environmental Impact Statement (EIS or EIA), including its biodiversity offset strategy (appendix 26), here:… As far as I know, this is all still current
Read 13 tweets

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