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{"id":12564,"date":"2022-08-18T15:18:19","date_gmt":"2022-08-18T15:18:19","guid":{"rendered":"https:\/\/scienceandnerds.com\/2022\/08\/18\/crypto-cant-fix-carbon-offsets-but-crypto-fans-are-trying-anyway\/"},"modified":"2022-08-18T15:18:20","modified_gmt":"2022-08-18T15:18:20","slug":"crypto-cant-fix-carbon-offsets-but-crypto-fans-are-trying-anyway","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2022\/08\/18\/crypto-cant-fix-carbon-offsets-but-crypto-fans-are-trying-anyway\/","title":{"rendered":"Crypto can\u2019t fix carbon offsets \u2014 but crypto fans are trying anyway"},"content":{"rendered":"

Source: https:\/\/www.theverge.com\/2022\/8\/18\/23310254\/carbon-offset-credits-crypto-tokens-adam-neumann-wework<\/a>
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There\u2019s a wonky new attempt to use controversial technology to tackle climate change: turning carbon offset credits into crypto tokens. Both carbon offsets and crypto are hot-button topics in the sustainability game. Crypto mines<\/a> have been notorious sources of climate pollution<\/a>, and purchasing carbon offsets is a popular way companies try to absolve themselves<\/a> of their greenhouse gas pollution, a strategy that has mostly failed<\/a> in the past. Now, parts of the crypto industry are claiming that they can make offset credits better \u2014 but experts are still skeptical. <\/p>\n

To understand how these new tokens are an old-fashioned carbon offset in crypto clothing, we need to get down to the basics of how they work. We\u2019ll start with carbon credits. <\/p>\n

Carbon credits 101<\/h3>\n

Carbon dioxide is a byproduct of doing business in our current economy, and it will remain in that position as long as we rely heavily on burning fossil fuels. Using electricity, transporting people and goods \u2014 all result in carbon emissions that are heating up our planet<\/a>. This is bad<\/a>. Now, there is a solution to stop Earth from turning into a charred and flooded hellscape \u2014 stop emitting so much carbon dioxide. But that is very inconvenient for companies and requires them to change how they power their operations and move stuff around the world. Some companies think they\u2019ve figured out a way to get around all that. If they keep emitting but want to be able to say that they\u2019re going \u201cgreen,\u201d they can just invest in efforts to prevent or capture carbon dioxide emissions elsewhere. That will cancel out the effects of their own pollution, or so the thinking goes. Now, people have to figure out how to keep track of that carbon. <\/p>\n

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