Carbon trading is the process of buying and selling permits and credits to emit carbon dioxide.
All carbon trading systems have been beset with problems and corruption, and yet some countries and industries (such as the aviation industry) continue to suggest carbon trading can tackle rising emissions.
Scientists have defined the amount of carbon dioxide we can release globally and still meet the Paris Agreement goal of keeping global warming below two degrees, and aspiring for 1.5 degrees. This “carbon budget” has no wiggle room. It requires us to shift to a low carbon energy, agriculture, transport and industrial world now, whilst at the same time removing some carbon dioxide from the air with restoration of forests. The best way to do this is through direct regulation.
Carbon trading is seen as a holy grail for those who believe it could be a source of finance for efforts to plant trees and protect forests. But this does not add up in climate terms. Trees can never offset the permanent release of fossil carbon into the atmosphere, and there is no evidence that carbon trading is providing anywhere near enough money to incentivise forest protection.
Fern’s work has blocked EU plans to include forests in its Emissions Trading System (EU ETS) and stopped the UK and the EU from engaging in biodiversity offsetting.
Fern believes that carbon trading, forest offsets and biodiversity offsetting are dangerous distractions which allow people, organisations and countries to continue emitting or destroying when it would otherwise be forbidden.
Carbon trading related resources
African communities are protesting against offsetting – but the Commission and UAE still rush to establish an African Carbon Market
Despite everyone’s better judgment, carbon credit games continue – putting community rights in danger as 10 per cent of Liberia is put up for sale.
EU: Don't let big polluters off the hook. Say no to carbon offsets!
The climate crisis is more urgent than ever. Yet the EU debate on rules for carbon removals is focused on carbon offsetting which will further fuel climate chaos. This false solution allows polluters to avoid emissions reductions and distracts us from the urgent need for real, deep cuts. Tell the EU we need real solutions now.
Low carbon, high risk
Lessons for the EU from Label Bas-Carbone forestry projects in France
80 NGOs ask the EU to reject carbon offsets following scandal of largest voluntary carbon offset certifier
In November 2022, the European Commission presented a proposal for an European Union (EU) Regulation on certification of activities that remove carbon from the atmosphere ('carbon removals'), which included voluntary minimum...