Class of 2024Buffalo, NY
AboutHello! My name is Tulesi and my project is about carbon markets.
- "What is the carbon market, how is it exploited (what are its loopholes), and how can policies make the carbon market more effective? " with mentor Mackenzie (Aug. 23, 2023)
What is the carbon market, how is it exploited (what are its loopholes), and how can policies make the carbon market more effective?
Started May 23, 2023
Abstract or project description
It has been found that 90% of offsetting credits that Verra, the world’s leading carbon standard for the carbon offsetting market, has approved, do not genuinely represent carbon reductions (source, year). The carbon market is a tool used by companies to offset carbon emissions by buying carbon credits. This allows them to invest money into projects that are beneficial to the future climate that would not otherwise be funded. However, due to the unregulated nature of this newer concept, there are many loopholes and limitations to the carbon market that are exploited by large corporations to make more money and not truly reduce their emissions. By compiling information from various sources on carbon markets and their limitations, this paper will attempt to answer how effective policies can be written to close existing loopholes in hopes to make the carbon market a more reliable tool for curbing carbon emissions. In order to uncover these truths, BLANK BLANK and one sentence about results