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Revision as of 05:57, 12 December 2021 by Usernamekiran (AWB) (talk | contribs) (added {reflist}, clean up)(diff) ← Previous revision | Latest revision (diff) | Newer revision → (diff) Release of carbon dioxide into the atmosphere | This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. Find sources: "Carbon retirement" – news · newspapers · books · scholar · JSTOR (December 2021) (Learn how and when to remove this message) |
Carbon retirement involves retiring allowances from emission trading schemes as a method for offsetting carbon emissions. Under schemes such as the European Union Emission Trading Scheme, EU Emission Allowances (EUAs) represent the right to release carbon dioxide into the atmosphere, and are issued to all the largest polluters. Buying these allowances and permanently removing them forces industrial companies to reduce their emissions. Over time, the scheme will offer fewer allowances, making it much harder for industrial companies to sustain high emission levels without incurring financial penalties.
Unlike traditional offsetting projects, retirement is straightforward and transparent. There are no complex projects, methodologies, brokers or intermediaries and the issue of additionality is overcome.
References
- Rousse, Olivier (January 2008). "Environmental and economic benefits resulting from citizens' participation in CO2 emissions trading: An efficient alternative solution to the voluntary compensation of CO2 emissions". Energy Policy. 36 (1): 388–397. doi:10.1016/j.enpol.2007.09.019.