Reposted from Earthward, https://fromknowledgetopower.com/voluntary-c-markets/ 7 SEPTEMBER 2023Thanks for reading Earthward! Subscribe for free to receive new posts and support my work. Last week, the Swiss company Climeworks, a leading player in the nascent direct air capture industry, sponsored an informational webinar featuring speakers from The Nature Conservancy and JPMorgan Chase. TNC is among the world's largest environmental nonprofit organizations, with a staff of hundreds of scientists deploying their expertise to conserve land and water resources around the world. JPMC, in contrast, is the undisputed world leader in financing the operations of fossil fuel companies. From 2016-2022, JPMC lent funds and underwrote fossil fuel operations to the tune of $434 billion, substantially more than any of the three other "big four" banks - Citi, Wells Fargo and Bank of America. Why would two organizations with such apparently opposed missions offer a joint educational webinar, under the auspices of a private firm developing industrial scale carbon capture? The answer lies in a worldwide effort to monetize carbon emissions reductions, in which a variety of players are working to establish a credit system that will finance initiatives to ameliorate global warming.
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Voluntary carbon markets
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Reposted from Earthward, https://fromknowledgetopower.com/voluntary-c-markets/ 7 SEPTEMBER 2023Thanks for reading Earthward! Subscribe for free to receive new posts and support my work. Last week, the Swiss company Climeworks, a leading player in the nascent direct air capture industry, sponsored an informational webinar featuring speakers from The Nature Conservancy and JPMorgan Chase. TNC is among the world's largest environmental nonprofit organizations, with a staff of hundreds of scientists deploying their expertise to conserve land and water resources around the world. JPMC, in contrast, is the undisputed world leader in financing the operations of fossil fuel companies. From 2016-2022, JPMC lent funds and underwrote fossil fuel operations to the tune of $434 billion, substantially more than any of the three other "big four" banks - Citi, Wells Fargo and Bank of America. Why would two organizations with such apparently opposed missions offer a joint educational webinar, under the auspices of a private firm developing industrial scale carbon capture? The answer lies in a worldwide effort to monetize carbon emissions reductions, in which a variety of players are working to establish a credit system that will finance initiatives to ameliorate global warming.