The global carbon market is booming, it’s expected to reach $22 trillion by 2050.
So where did it all start?
A thread 🧵 of how a Mormon missionary and a future Reiki Master started it all in the 80’s
#CarbonCredits #CarbonOffset #Netzero
👇 (1/9)
So where did it all start?
A thread 🧵 of how a Mormon missionary and a future Reiki Master started it all in the 80’s
#CarbonCredits #CarbonOffset #Netzero
👇 (1/9)
In 1987, Applied Energy Services (@TheAESCorp) planned on building a ~180 MW coal-fired power plant in Connecticut.
The #coal plant would produce ~14 million tons of CO2 emissions over its lifetime.
Global warming was already making some waves & AES was concerned
👇 (2/9)
The #coal plant would produce ~14 million tons of CO2 emissions over its lifetime.
Global warming was already making some waves & AES was concerned
👇 (2/9)
AES' CEO was former missionary & @HarvardAlumni - Roger Sant @santroger
Rogers’ "least-cost energy" strategy was revolutionary at the time.
@TheAESCorp's focus was minimizing the cost AND #environmental impact of #energy services.
So they needed a “green” solution
👇 (3/9)
Rogers’ "least-cost energy" strategy was revolutionary at the time.
@TheAESCorp's focus was minimizing the cost AND #environmental impact of #energy services.
So they needed a “green” solution
👇 (3/9)
Sheryl Sturges, at AES was tasked to find a solution.
She determined that there were 4 ways to move forward:
1. Stop burning coal
2. Capture and store carbon
3. Promote energy conservation
4. Plant 🌲 to absorb carbon emissions
Only 1 had could a chance of working
(4/9) 👇
She determined that there were 4 ways to move forward:
1. Stop burning coal
2. Capture and store carbon
3. Promote energy conservation
4. Plant 🌲 to absorb carbon emissions
Only 1 had could a chance of working
(4/9) 👇
#ClimateAction wasn't mainstream & technology wasn’t viable for #CarbonCapture & Storage (yet).
The only solution - planting🌲to "offset" #CO2emissions.
@WorldResources determined that they'd need to plant +52 million trees...
That's difficult to do in Connecticut.
(5/9) 👇
The only solution - planting🌲to "offset" #CO2emissions.
@WorldResources determined that they'd need to plant +52 million trees...
That's difficult to do in Connecticut.
(5/9) 👇
They began to look elsewhere to "offset" their carbon emissions.
Eventually, they found a project being run by the NGO CARE.
Problem was that the project was in the mountains of Guatemala 🇬🇹 - Over 3,500 miles away from the plant in Connecticut.
#CarbonOffset
👇 (6/9)
Eventually, they found a project being run by the NGO CARE.
Problem was that the project was in the mountains of Guatemala 🇬🇹 - Over 3,500 miles away from the plant in Connecticut.
#CarbonOffset
👇 (6/9)
Regardless of the distance, AES still pushed forward in their goal to be #CarbonNeutral
And in 1989, with a grant of $2 million, AES began supporting Guatemalan farmers to plant trees.
The #carbonoffset project wasn’t perfect.
In fact, it was FAR from it.
(7/9) 👇
And in 1989, with a grant of $2 million, AES began supporting Guatemalan farmers to plant trees.
The #carbonoffset project wasn’t perfect.
In fact, it was FAR from it.
(7/9) 👇
Frequent land-use conflicts & working with the population were not as easy as expected.
Even worse - the offsets generated were less than what was promised.
Regardless this was a pivotal point in the creation of the global carbon market.
#CarbonCredits #Netzero
(8/9) 👇
Even worse - the offsets generated were less than what was promised.
Regardless this was a pivotal point in the creation of the global carbon market.
#CarbonCredits #Netzero
(8/9) 👇
Roger has since retired & Sheryl left the corporate world to follow her passion for Reiki.
The global carbon market is set to be bigger than oil in the future.
Follow @carboncredits & Download our free guide to Climate Proof your Portfolio - join.carboncredits.com/climate-insura…
(9/9) 🏁
The global carbon market is set to be bigger than oil in the future.
Follow @carboncredits & Download our free guide to Climate Proof your Portfolio - join.carboncredits.com/climate-insura…
(9/9) 🏁
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