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Carbon Offsets
DESCRIPTION
Carbon offsets are projects that cancel out carbon produced from the removal of greenhouse gas emissions from the atmosphere
TYPES OF INITIATIVES
Projects which avoid releasing emissions into the atmosphere: ex. Renewable energy or carbon capture, storage, and utilization (CCUS)
Projects which remove emissions from the atmosphere: ex. Reforestation or Direct Air Capture
PRODUCTION
Created from third-party certified projects that pull greenhouse gas
emissions from the atmosphere. The offsets are then sold to companies that
emit.
TRADING MARKET
Voluntary carbon market
BUYERS OF OFFSETS
Corporations and individuals
Carbon Credits
DESCRIPTION
Carbon credits are instruments that give the right to emit carbon into the
atmosphere and results in a reduction in greenhouse gas emissions released to the atmosphere
TYPES OF INITIATIVES
Carbon taxes: Companies pay for each tonne of CO emitted at a set price
Emissions trading schemes: A limit or cap is placed on the right to emit within an area and companies trade those rights within that area
PRODUCTION
Generally “created” by the government, which can limit emissions released by placing a cap on tons of CO that can be emitted.
TRADING MARKET
Carbon compliance market
BUYERS OF CREDITS
Usually just corporations
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