Episode
38

Monetizing Carbon

March 23, 2022
|
Duration:
2136119
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In This Episode:

Join energy coaches David Arkell and John Pooley with producer Lysandra Naom on an episode all about monetizing carbon. This episode features if carbon can be monetized, advantages and issues with doing so, carbon credit programs, and more.

Highlights

  • Why Monetize Carbon?:
    Monetizing carbon assigns a cost to emissions, making businesses more accountable for their environmental impact. When businesses face financial incentives or penalties, they are more likely to seek ways to reduce emissions.
  • Types of Carbon Pricing:
    Carbon taxes and cap-and-trade systems are common approaches. The former directly imposes a price on carbon emissions, while the latter sets emission limits and allows businesses to trade emission credits.
  • Challenges in Carbon Pricing:
    Determining a standardized global price is complex due to differences in regional regulations and market conditions. Carbon prices vary widely, from $7 per ton in some markets to over $80 in others.
  • Benefits for Businesses:
    Internal carbon pricing helps companies understand the cost of emissions in decision-making, promoting energy efficiency and innovation. Companies can trade unused emission credits, creating new revenue opportunities.
  • Long-Term Impact and Public Acceptance:
    Carbon pricing could encourage consumers to adopt sustainable behaviors, such as using public transport or electric vehicles. Acceptance varies, as carbon pricing affects energy costs and product prices.

    • Key Insights

  • Incentivizing Change through Cost:
    Attaching a financial cost to carbon emissions provides companies with a tangible reason to reduce their carbon footprint, making emissions reduction a financially sound choice.
  • Potential for Market Growth:
    By assigning carbon a value, companies can engage in trading carbon credits, thus fostering a market that rewards sustainable practices.
  • Diverse Carbon Credit Programs:
    Examples include the European Union Emissions Trading System and Canada’s Output-Based Pricing System, showing how different countries implement pricing to encourage carbon reduction.
  • Behavioral Impact of Carbon Cost:
    Increased prices due to carbon charges may encourage consumers to reduce fossil fuel use, promoting alternative energy sources and sustainable practices.
  • Future of Carbon Pricing:
    Experts foresee higher carbon costs as countries push for Net Zero, making it essential for businesses to adapt now to remain competitive in a low-carbon economy.
    • Share this story
    Carbon Tax
    Low-Carbon Economy
    Carbon Credits
    Cap-and-Trade
    Net Zero
    Energy Costs
    Energy Efficiency
    Carbon Pricing
    Carbon Emissions
    Carbon Reduction
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