Here's Dougal acting out my latest on REDD-Monitor:
reddmonitor.substack.com/p/the-crypto...

"the top 25 buyers of credits, covering a majority of overall credit purchases, were on average increasing their emissions (average: 10.2%; median: 1.0%)."
carbonmarketwatch.org/2023/12/02/c...

Like Shell?
Or maybe Microsoft?
Or perhaps Eni?
The top three buyers of voluntary carbon credits.

China started piloting local ETS in 2013.
According to EDF the initial phase was launched in 2017.
Carbon Brief puts the official launch at 2021.
Emissions in China continue going up.
ourworldindata.org/greenhouse-g...

OK, let's look at the ETS.
Introduced in 2005.
Emissions have been falling in the EU since 1979.
And continued to do so at pretty much the same rate after the ETS started.
ourworldindata.org/greenhouse-g...

I was going to post this on Facebook, but then I thought better of it...
My only problem with @existentialcomics.com is that I should probably do some work at some point today.
existentialcomics.com/comic/175

It depends what you mean by "the desired impact".

For the sake of argument, let's say that the desired impact of carbon trading is to reduce the level of CO2 in the atmosphere.

In that case, it's not looking too good, is it?

The first carbon offsetting project was in 1988.

🙈 "Relative additionality" is new to me.

🙉 CP is happy to quote an anonymous source who says they are "unsure of the credibility of the claims made against the Article 6 partnership in the article" - with no evidence to back this up whatsoever!

🙊 I've attached a screenshot from CP's newsletter.

P.S. The Bloomberg NEF report is available here:

assets.bbhub.io/professional...

And sure enough, biodiversity offsets and credits are in there - as if that's a given:

Thank you!

There's also a very good Bloomberg podcast about the 1 Trillion Trees initiative:
open.spotify.com/episode/72gV...

I like this bit from Sophie Alexander's article:

It's not only the quantity of wood that IKEA uses that is the problem. The problem is the damage that the logging operations by IKEA's suppliers cause to the forests.

You didn't watch the documentary, did you? Here's a screenshot:

I hope you'll include a small passing mention about these crypto-numpties while you're at it:

reddmonitor.substack.com/p/the-strang...

That barge looks so luxurious and comfortable though, doesn't it? And for just US$200,000 you can buy an apartment on Landi's next project - to be completed in 2028:

reddmonitor.substack.com/p/who-is-sam...

1,000 subscribers!

Thank you to everyone who has subscribed.

If you've not already done so, please head over to reddmonitor.substack.com and subscribe.

For anyone following the latest on South Pole / Kariba after the brilliant reporting in The New Yorker, this piece by Matt Levine at Bloomberg is superb:

www.bloomberg.com/opinion/arti...

Lee White appears to be denying that he's under house arrest.

I asked him two questions:

- Are you under house arrest?

- Are you still in Gabon?

He hasn't replied, yet.

Here are the links from this X exchange:

www.declassifieduk.org/british-mini...

climatechangenews.com/2023/10/06/f...