🔁Mario Nawfal:
🇪🇺 EU TO FIGHT CLIMATE CHANGE...BY PAYING OTHERS TO DO IT
The European Commission just proposed a major shift in its climate plan: buy carbon credits from developing nations instead of cutting all emissions at home.
Up to 3% of the 2040 climate target could now be outsourced, meaning countries like Germany or Poland can hit their goals by funding forest projects in Brazil or bus electrification in Asia.
And here's the twist: the EU banned international carbon credits from its own market years ago - after a wave of cheap, low-impact credits crashed prices and tanked integrity.
Now they’re back.
Cost? Unknown. Estimates say at least 140 million tons of CO2 will need to be offset. Prices range from a few dollars to over $100 per ton.
Source: U.S. News, Reuters
https://x.com/MarioNawfal/... https://x.com/MarioNawfal/...
🇪🇺 EU TO FIGHT CLIMATE CHANGE...BY PAYING OTHERS TO DO IT
The European Commission just proposed a major shift in its climate plan: buy carbon credits from developing nations instead of cutting all emissions at home.
Up to 3% of the 2040 climate target could now be outsourced, meaning countries like Germany or Poland can hit their goals by funding forest projects in Brazil or bus electrification in Asia.
And here's the twist: the EU banned international carbon credits from its own market years ago - after a wave of cheap, low-impact credits crashed prices and tanked integrity.
Now they’re back.
Cost? Unknown. Estimates say at least 140 million tons of CO2 will need to be offset. Prices range from a few dollars to over $100 per ton.
Source: U.S. News, Reuters
https://x.com/MarioNawfal/... https://x.com/MarioNawfal/...
7 hours ago
