US's JOHN KERRY PUSHED BEHIND THE SCENES FOR CORPORATE CARBON OFFSET PLAN, ACCORDING TO THE FT.
Since emissions are not falling, we need to change our approach and a global carbon offset is one way to go.
The cost of reducing emissions or taking out carbon via sequestration varies massively from country to country. Norway has as an example invested over 2.5 billion USD and will have operational cost of well over 100 million USD annually for 1 million tons per year in carbon capture and storage. As we are getting close to 40 billion tons annually, we must deal with it should be evident to everyone that such an approach is not an option. There just are not enough funds available.
I must come clean, for EN with substantial amounts of sequestration coming this is a good solution. It is in our self-interest to promote an offset model.
That said, the most interesting fact with the push is that Corporates already use Global offsets. There is a high-quality market for offsets. Governmental issued quotas do not cut the mustard. This is high quality, real, can be seen at work sequestration or conversion project, normally with live feed and independent verification. And the prices are accordingly.
Kerry is pushing something that already exists. But still, he should receive credit for supporting the most effective solution. And maybe it is a good thing it isn't new?
Here is our way:
The EN biofuels solution can sequestrate 24 billion tons of CO2 a year. It will replace oil and stop carbon from crude entering the cycle. This will effectively solve our emission problem. The green line is how emissions will develop:
Want a better future, contribute here: https://chuffed.org/project/105643-implement-a-real-solution-to-climate-change
Want to invest in a real solution, contact us here:
https://www.enenergy.net/