Related topics:
Recommend this:
The U.S. financial market is in turmoil, but it seems “there is still a bull market in environmental guilt,” 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 “guilt boom is about to bust,” 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 “limited assurance of credibility.”
HOW COCA-COLA REDUCES ITS CORPORATE WATER FOOTPRINT
Attend the webcast on Dec. 5. Register Now>>
FINALLY! NEXT-GENERATION CARBON MANAGEMENT SOFTWARE FOR BUSINESSES
Clear Standards environmental intelligence software helps businesses measure, analyze & reduce carbon footprints. No spreadsheets! >>
GREENHOUSE GAS DATA CONFIDENCE: HOW DO YOU STACK UP?
Benchmark your organization's progress against current Best Practices in GHG Emissions Management. Sign up for our free Webinar today!>>
THE MARLBORO MBA: MANAGING FOR SUSTAINABILITY
Top 5 program for CSR Managers by Sierra Mag. Low-residency MBA for working professionals Learn more>>
In his recent op-ed for the New York Times, Al Gore laid out a clear plan for America to lift itself ... continue »
The value of green building construction starts was up from $10 billion in 2005 to $36-$49 billion in 2008, and could triple ...
click to view full size chart »
Rick Ridgeway, VP of environmental programs and communication at Patagonia, talks about the company’s sustainability initiatives – including its Footprint Chronicles ...
Comments
As more and more people move up the sustainability continuum, carbon trading can migrate to an investment vehicle as opposed to just being a neccessary initiative.
eric hansel October 8th, 2008