6 Oct 2006

A new form of offsetting


I am investigating a new form of carbon offsetting I have come up with. If individuals wish to do so, they can buy carbon emissions trading certificates (current price under 12 Euros) on the open market and keep them for ever.

What effect will this have? Well if a million people buy a certificate each, that will be a million tonnes less that the covered industries will be allowed to emit, or face fines of 40 Euros (100 Euros after April 2008) per tonne.

If 1% of people in the world buy a certificate each, that's 65 million tonnes less - equivalent to the total capped emissions of Ireland.

It would take every person in the world buying one certificate to reduce Europe's allowable emissions to zero.

So let's start buying.

PS - I've since discovered that others have had the same idea and are putting it into action. Take a look at Pure – the Clean Planet Trust for example.