Climate change skeptics and deniers habitually assert that cutting carbon emissions and putting a price on carbon would jeopardize economic growth and job creation. Hence, by their reasoning, we’re better off living with the rising costs and profound threats resulting from rising greenhouse gas emissions and a warming climate.
Research carried out by Imperial College London in partnership with the International Carbon Reduction and Offsetting Alliance (ICROA) indicates otherwise. In Unlocking the Hidden Value of Carbon Offsetting, the researchers conclude that investing in carbon offset credit programs yields significant social, environmental and economic returns beyond greenhouse gas emissions reductions.
According to the research results, investing in voluntary carbon emissions offset credit programs creates economic development opportunities, enhances environmental conservation, and improves people’s lives by realizing a host of social benefits that range from household savings and health benefits to healthier water resources. Overall, they determined that the additional value – beyond emissions reductions – of each metric ton of carbon emissions avoided by purchasing offset credits totals $664. Ipso facto, they add, carbon offset credits are systemically undervalued.Click to continue reading »