The Bull Market in Green Guilt
The U.S. financial market is in turmoil, but it seems ‚Äúthere is still a bull market in environmental guilt,‚ÄĚ writes David A. Fahrenthold in the Washington Post.
The Conservation Fund, which sells carbon offsets directly to buyers, reported that this year’s sales have increased 9 percent to individuals and 22 percent to companies. New Carbon Finance found that prices in direct-to-customer markets have increased 26 percent since 2007, from $5 to $6.32 a ton of GHG.
The increase was partly driven by demand from corporations, which bought around 80 percent of U.S. carbon offsets last year. In addition, experts who study offsets say the American public has become accustomed to feeling guilty about the environment and are learning to buy their way out.
What’s more, experts say the financial crisis has not yet reached those upper-middle-class consumers who are willing to pay for offsets. These consumers also do not think of offsets as a luxury purchase, for now.
But industry insiders are worried that the ‚Äúguilt boom is about to bust,‚ÄĚ writes Fahrenthold.
There is also growing concern that vendors sometimes do not deliver what they promise. A report by the Government Accountability Office found that the growing U.S. market for carbon offsets is so loosely regulated that it offers consumers ‚Äúlimited assurance of credibility.‚ÄĚ
Stay Up-to-Date On Environmental Management, Energy & Sustainability News with EL's Free Daily Newsletter
Energy Manager News
- ERC: Electricity Price Trends for the Week Ending September 24
- Research Makes Gains on Combined Energy Systems, Heat Exchangers
- School Projects in MA, CO
- Pattern Energy Completes 200 MW Logan‚Äôs Gap Wind Facility in Texas
- Marine Corps Upgrading 37 Buildings at Camp Lejeune, N.C.
- Photovoltaic Projects in TN, CT
- California Pushing Solar to Economically Disadvantaged Communities
- QM Power Introduces Efficient Motor