Posted by
RandomMike on Thursday, March 01, 2007 12:00:52 PM
Carbon offsets were big news earlier this week. All attendees of the Academy Awards received free carbon offsets to cover all those fossil fuels burned to heat their mansions, heat their pools, and fuel their SUVs. In addition, we found out that Al Gore himself burns huge quantities of carbon heating and cooling his huge house in Tennessee, his private jet, his other house houses, and his limos. But his carbon footprint is 0 because he buys carbon offsets.
So this got me to wondering about these carbon offsets. How do you create them? Does a government agency issue them? If your utility bill is below the national average, can you get them from your utility? Can you then sell them on E-bay? (Heck I would like to make some cash from them!) Does anyone regulate them?
Well, the short answers are: anyone can, no, no, probably, and no. :)
The carbon offsets given out at the Academy awards were issued by
Terrapass, a Silicon Valley based company in Menlo Park, CA. Go to their web site and check it out. You put in your zip code, answer a few questions about your utility bill, and whammo blammo, you are given a price at which you can pollute all year guilt free!!!
For an offset to truely be an offset they either need to (1) remove CO2 from the atmophere or (2) own projects that are emission free or reduce emissions. Their site lists all green projects they "fund" (kudos to them for listing this info). Doing a little quick math, all the projects totaled up should save 67,792 metric tons of pollution saved (thusly available as offsets). Now what does "fund" mean? Own 100%? 50%? 10%? This is where things begin to get a little foggy for me.Unless they own all the projects, how can they claim all the offsets for them? What percentage of the money you pay Terrapass goes to "fund" these projects? Hmmm. Also, it would seem there would only be a finite number of passes they could sell every year. And by the way, Terrapass is a for profit company, not a nonprofit.
So its seems I'm not the only skeptic,
tempus fugit has this post on the subject.
In addition,
Andrew Bolt from the Sydney Herald Sun has this nice column on the subject. Turns out Al Gore buys his offsets from Generation Investment Management, who's Chairmen is .... Al Gore. He buys the carbon offsets from himself.