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Behind the Money

Blockchain seeks a role in fighting climate change

Behind the Money

Topher Forhecz

Markets, Investing, News, Banking, Finance, Business, Business News, Crypto

4.4350 Ratings

🗓️ 7 September 2022

⏱️ 18 minutes

🧾️ Download transcript

Summary

Buying carbon credits is a way for companies to show they’re serious about fighting climate change. But keeping track of these credits is tricky. Now, advocates of the blockchain - the technology that underpins cryptocurrency - say that its digital ledger could be a possible solution to bring transparency to the market. On today’s episode, the FT’s Camilla Hodgson explores whether this technology could help fight climate change or whether some supporters are just in it for their own benefit.


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For further reading:

Crypto and climate change: can web3 help get us to net zero?

FT News Briefing


Read a transcript of this episode on FT.com



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Transcript

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0:00.0

Am I missing anything? Is this the right decision?

0:02.0

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0:04.0

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0:05.0

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0:08.0

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0:16.5

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0:21.1

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0:26.6

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0:27.7

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0:31.1

For a little while now, our reporter Camilla Hudson has been looking into carbon credit markets.

0:36.0

The carbon credit market is growing and it's already substantial.

0:41.0

It was around, worth around a billion dollars last year in 2021, and everyone is expecting it to keep growing. It's really been on quite a...

0:50.0

prices have really gone up in the last 18 months and interest also in credits has really exploded.

0:56.0

Camilla says, carving credits are this trendy thing companies buy in order to show that they're thinking seriously about climate change and the

1:04.4

effect their business might have on climate change. They represent a ton of

1:09.3

carbon that's either been removed from the atmosphere or avoided in the first place.

1:14.0

So they come from things like tree planting projects or tree protection schemes.

1:19.0

Companies want them because you can use them to offset your own emissions. So if you say your carbon

...

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