The whole aspect of carbon crediting, which is attracting the best minds from throughout the world to jump in the bandwagon and make profit, is being thrust upon the rest of the world as being a win-win concept for everyone – the polluter and the climate of the world. It has always been very hard for me to digest its reasoning - that since the polluter is made to pay so everyone benefits. Will this concept lead to lowering down of emmissions is evrybody’s guess?
The recent article, albeit a small one, in the Times of India says it all. The news item starts with the following lines – “British companies are handing over millions of pounds to an Indian chemical plant so that western firms can continue to pump out thousand of tons of green house gases .”
I am not a pundit in the field of carbon crediting so my mindset might only come up with a set of juvenile reasonings. So be it.
The aspect of carbon crediting does not seem to, in any way, compell the companies to emit less GHGs. The rate for credits to is very minimal and varies a lot if one comes from any western country to India. So in a way the polluters pay peanuts but peanuts in dollars are not at all peanuts in India!!
