Connect with us

Published

on

Nations are poised to begin building an international carbon market, after finally adopting the relevant rules at the UN climate conference in Glasgow earlier this month.

Under the COP26 agreement, countries should soon be able to buy and sell UN-certified carbon credits from one another, and use them as a way to achieve greenhouse gas reduction pledges under the Paris climate agreement.

But some observers fear the rules include major loopholes that could make it appear as if nations are making more progress on emissions than they really are. Others warn that the agreement may accelerate the creation of carbon credits within separate voluntary offset markets, which are often criticized for overstating climate benefits as well.

Carbon credits, or offsets, are produced from projects that claim to prevent a ton of carbon dioxide emissions, or to pull the same amount out of the atmosphere. They’re typically awarded for practices such as halting deforestation, planting trees, and adopting certain soil management techniques.

A new supervisory body, which should begin holding meetings next year, will develop final methods to validate, monitor, and certify projects seeking to sell UN-accredited carbon credits. The Glasgow agreement will establish a separate process for countries to earn credit toward their Paris targets by cooperating with other nations on projects that lower climate emissions, such as funding renewable power plants in another country.

Experts disagree over how large the UN-backed market will become, what some of the new rules will actually do, and how much the details may change as the final methods are determined. But the process is “slowly, messily, ploddingly building out the infrastructure for more trading of carbon as a commodity,” says Jessica Green, associate professor of political science at the University of Toronto, who focuses on climate governance and carbon markets.

The US and European Union have stated that they don’t intend to rely on carbon credits to achieve their emissions goals under the Paris agreement. But countries including Canada, Japan, New Zealand, Norway, South Korea, and Switzerland have said they will apply carbon credits, according to Carbon Brief. In fact, Switzerland is already financing projects in Peru, Ghana, and Thailand in hopes of counting those initiatives toward its Paris target.

Most observers praise at least one key achievement at Glasgow: The rules largely will prevent double counting of climate progress. That means two nations trading carbon credits can’t both apply the climate gains toward their Paris goals. Only the nation that buys a credit, or holds onto one it generated, can.

Voluntary markets

But some experts fear there may still be ways that double counting could occur.

Offset project developers have long been able to generate and sell carbon credits through voluntary programs, like the ones managed by registries such as Verra or Gold Standard. Oil and gas companies, airlines, and tech giants are all buying increasing numbers of offsets through these sorts of programs as they strive to achieve net-zero emissions goals.

The UN’s new rules take a hands-off approach to these marketplaces, notes Danny Cullenward, policy director at CarbonPlan, a nonprofit that analyzes the integrity of carbon removal efforts.

That suggests that projects developers in, say, Brazil could earn money for the offsets sold through voluntary markets—while the nation itself could still apply those carbon gains toward its own emissions progress under the Paris accords. That means there could still be double counting between a country and a company both asserting that the same credits lowered their emissions, Cullenward says.

COP26 President Alok Sharma receives applause after delivering the closing speech at the UN climate summit in Glasgow, Scotland.JEFF J MITCHELL/GETTY IMAGES

An additional problem is that studies and investigative stories have found that voluntary offset programs can overstate the levels of

Read More

————

By: James Temple
Title: How a new global carbon market could exaggerate climate progress
Sourced From: www.technologyreview.com/2021/11/24/1040568/how-a-new-global-carbon-market-could-exaggerate-climate-progress/
Published Date: Wed, 24 Nov 2021 10:00:00 +0000

Did you miss our previous article…
https://www.mansbrand.com/flexa-app-adds-regal-to-offer-cryptocurrency-payments-for-movies-more/

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Tech

LATAM crypto exchange Bitso and FMF launch NFT of Mexico’s National Team jerseys

Published

on

Bitso, a leading cryptocurrency platform operating in Latin America, and the Mexican Football Federation (FMF), today announced the joint launch of the first collectible NFT of the Mexico National Team’s jerseys that was acquired in cryptocurrencies.

This morning through their social media platforms, the FMF and Bitso announced the opportunity to acquire the new official National Team fan jerseys ahead of the team’s participation in the 2022 World Cup. In just 20 minutes, the entire collection sold out.

bitsonftjeysey
The NFTs of the jerseys have an exclusive design for the metaverse – each is unique on the blockchain and can be resold by its owner in subsequent transactions.

The collection consisted of 100 official physical jerseys, each with a corresponding NFT version of the jersey that fans’ avatars can wear within the Decentraland metaverse. Each physical and NFT jersey set sold for the equivalent of $1,800 MXN in ethers.

“Our mission is to make cryptocurrency useful in the everyday life of Mexicans; we are committed to spreading the technology through innovative opportunities that help people throughout the country familiarize themselves with this new world. We are very excited to offer the incredible, historic opportunity for the fans of our National Team so that through their Bitso account, they can wear the colors of the National Team on and ‘off’ the field in the metaverse.”
– Bárbara González Briseño, General Director of Bitso México

Jersey NFTs

Created by Bitso, the virtual jersey sports the official colors of Mexico and the new National Team shield, characteristics that will make it stand out when users wear it in the virtual world of Decentraland.

The post LATAM crypto exchange Bitso and FMF launch NFT of Mexico’s National Team jerseys appeared first on CryptoNinjas.

Read More

————

By: CryptoNinjas.net
Title: LATAM crypto exchange Bitso and FMF launch NFT of Mexico’s National Team jerseys
Sourced From: www.cryptoninjas.net/2022/07/29/latam-crypto-exchange-bitso-and-fmf-launch-nft-of-mexicos-national-team-jerseys/
Published Date: Fri, 29 Jul 2022 15:19:02 +0000

Did you miss our previous article…
https://www.mansbrand.com/the-download-a-breakthrough-climate-bill-and-twitters-terrible-trends/

Continue Reading

Tech

Long-running crypto exchange EXMO unveils “lively” rebrand amidst growth

Published

on

EXMO, a crypto exchange platform operating since 2014, announced this week a rebranded visual identity with includes a new logo, brand colors, and design features. This new branding comes as EXMO continues to grow its crypto platform while also seeking to expand its presence in other jurisdictions.

Some new developments underway at EXMO:

Soon, users will be able to earn passive income from EXMO’s new staking platform.Plans to launch an EXMO crypto debit card.Expansion of its services in international markets with the opening of offices in Poland and Lithuania.

EXMO’s new logo

The rationale for the re-brand:

“At EXMO, we have a vision of a world where crypto is in every wallet. Hassle-free. We want to achieve this by making crypto as simple and accessible to everyone as possible. And we know that you already appreciate EXMO for offering user-friendly services and helpful support. Also for the opportunity to trade anywhere and anytime, closing deals in just a few taps. Such important changes required a rethinking of our corporate style, which has long needed a massive upgrade. So today we are introducing a new brand identity for EXMO with a completely new visual concept. We are launching a new logo, brand colors, and design elements. Our key design principles are simplicity, boldness, and a pinch of fun. But most importantly, we have changed our logo. Simple and easily recognizable, it represents the humanity of our brand. The logo stands out due to the wavy letter ‘m’ which symbolizes exchange rate charts and also resembles a spring that will launch you into the crypto world.”
– The EXMO Team regarding the re-branding

The post Long-running crypto exchange EXMO unveils “lively” rebrand amidst growth appeared first on CryptoNinjas.

Read More

————

By: CryptoNinjas.net
Title: Long-running crypto exchange EXMO unveils “lively” rebrand amidst growth
Sourced From: www.cryptoninjas.net/2022/07/26/long-running-crypto-exchange-exmo-unveils-lively-rebrand-amidst-growth/
Published Date: Tue, 26 Jul 2022 08:10:38 +0000

Did you miss our previous article…
https://www.mansbrand.com/stitching-together-the-grid-will-save-lives-as-extreme-weather-worsens/

Continue Reading

Tech

Stitching together the grid will save lives as extreme weather worsens

Published

on

The blistering heat waves that set temperature records across much of the US in recent days have strained electricity systems, threatening to knock out power in vulnerable regions of the country. 

The electricity has largely stayed online so far this summer, but there have been scattered problems and close calls already. 

Heavy use of energy-sucking air-conditioners is the biggest problem. But intense heat can also reduce the output of power plants, blow transformers, and force power lines to sag. Severe droughts across large parts of the country have also significantly reduced the availability of hydroelectric power, according to the North American Electric Reliability Corporation (NERC). 

It’s unlikely to get better soon. A number of grid operators may struggle to meet peak summer demand, creating the risk of rolling blackouts, the NERC report notes.

The nation’s isolated and antiquated grids are in desperate need of upgrades to keep the lights, heat, and air-conditioning on in the midst of extreme weather events that climate change is making more common, severe, and dangerous. One clear way to ease many of these issues is to more tightly integrate the country’s regional grids, stitching them together with more long-range transmission lines. 

If electricity generated in one area can be more easily shared across much wider regions, power can simply flow to where it’s needed at those moments when customers crank up air-conditioners en masse, or when power plants or fuel supply lines fail amid soaring temperatures, wildfires, hurricanes, or other events, says Liza Reed, a research manager focused on transmission at the Niskanen Center, a Washington, DC, think tank.  

The problem is it’s proved difficult to build more long-range transmission and grid interconnections for a variety of reasons, including the permitting challenges of erecting wires through private and public lands across cities, counties, and states and the reluctance of local authorities to forfeit control or submit to greater federal oversight.

The case of Texas

The unreliability of the US grid is not a new problem. Severe heat and winter storms have repeatedly exposed the frailty of electricity systems in recent years, leaving thousands to millions of people without power as temperatures spiked or plunged.

One of the fundamental challenges is that the grids today are highly fragmented. There are three main electricity networks within the US: the Eastern Grid, the Western Grid, and the Electric Reliability Council of Texas (ERCOT). But there are numerous regional transmission organizations within those first two systems, including the California Independent System Operator, Southwest Power Pool, PJM Interconnection, New York ISO, and more. 

These grids form a complex web of networks operating under different regulators, rules and market structures, and often with limited connections between them.

Map USA grid
A variety of regional transmission organizations oversee different parts of the nation’s aging and fragmented grids, which operate under different rules and with often limited connections between them.
legend

ERCOT is especially isolated, in part because of the desire among local politicians, citizens, and power companies to avoid added competition, the hassle of following other states’ rules, and oversight from the Federal Energy Regulatory Commission (FERC). But the state offers a case study in why that can be a serious problem amid increasingly harsh climate conditions, Reed says.

The Texas grid operator pleaded with customers several times earlier this month to cut electricity use as blistering summer temperatures created  demand surges that threatened to outstrip supply and require rolling blackouts.  Low wind conditions, cloud cover, and outages at fossil-fuel power plants added to the strains.

Shutting off the electricity needed to run air-conditioning in triple-digit temperatures

Read More

————

By: James Temple
Title: Stitching together the grid will save lives as extreme weather worsens
Sourced From: www.technologyreview.com/2022/07/28/1056483/stitching-together-the-grid-will-save-lives-as-extreme-weather-worsens/
Published Date: Thu, 28 Jul 2022 08:00:00 +0000

Continue Reading

Trending