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Money Trees: Planet Money Episode 663, Carbon Offsets and Environmentals…
Money Trees: Planet Money Episode 663
Carbon Offsets and Environmentals Impact
1. Destruction of the Amazon Rainforest
b. Irony
: Environmental impact of the reporters travels (thousands of miles, various transportation types).
c. Emotional Impact:
Reporters felt guilty for contributing to environmental harm.
a. Observation
: NRP reporters witnessed Amazon burning for farmland. Described the scene: ash, smoldering, trees, environmental devastation.
2. Introduction to Carbon Offsets
a. Concepts:
Pay to offset carbon emissions by funding projects like tree planting.
b. Skepticism:
Reporters question if carbon offsets are a "get out of jail free" card for polluting.
c. Key Question:
Do carbon offsets really work or are they a scam?
3. Origin of Carbon Offsets
a. Sheryl Sturges:
Former executive at AES Corporation. Developed the carbon offset idea to plan trees to absorb CO2 from coal plants.
b. First Project:
52 million trees in Guatemala to offset one coal planet's emission.
Cost
: $2 million for 40 years of emissions.
c. Media Coverage:
Featured in Time magazine and gained popularity among CEOs for positive PR.
5. Alternatives and Solutions
a. Carbon Tax Proposal:
Wittman argues for a carbon tax to drive behavior change.
b. Practical Advice
: Buy offset cautiously; reduce travel instead.
c. Cost of Offset for Reporters:
Calculated to need 88 trees for their trip, costing about $50. Reporters expressed relief at the low cost, highlighting the psychological effect of offsets.
4. Alternative Soultions
a.
Hanna Wittman's Study
: Studied AES's project in Guatemala and identifies many problems.
b. Problems Identified:
1. Land Conflicts and food shortages. 2. Only offset about 10% of emissions.
Unintended negative social and environmental impacts.
c. Philosophical Critique:
Compared to Catholic indulgences, paying to absolve guilt without changing behavior. Offsets are seen as a license to continue polluting and not contributing to a sustainable solution.