Sam Arnold's post

The existing carbon credit issuance and verification system needs to change as this article discusses. These weaknesses are the same ones I identified when first trying to buy credits and why I founded my company. https://www.newyorker.com/magazine/2023/10/23/the-great-cash-for-carbon-hustle

  • DIPANJANA MAULIK

    16 w

    A few articles remain relevant for a very long time. I missed it earlier but after reading it today I think this account of wrong decisions should be read again to avoid repeatative mistakes. Bad implementations kill innovations and good intentions. This story is another example of bad implementation like many other major financial collapses. This one happened in field of climate change and left the cues for mending the path. Today, when the call for moving the money is gaining momentum it is once again acting as a gentle reminder for moving money for right causes by strictly adhering to right causes.

    • Sam Arnold

      16 w

      Even if they are 100% greenwashing, they are still net positive for the planet and the companies purchasing them really have no obligation to do anything.

      • Sam Arnold

        34 w

        It depends upon what you mean as greenwashing. Some say it gives companies a license to pollute but there are reasons why a company cannot. For example, Delta airlines was spending >10% of its earnings on carbon offsets. I’m shocked Wall Street allowed them to, but if you take it as greenwashing what is their alternative? Reduce flights? If they do, another airline will take that route and oil demand will not reduce.

        1
        • Munene Mugambi

          34 w

          My main concern with carbon credits is they don't turn into a greenwashing form.

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