Thursday, May 3, 2007

Using Carbon Trading to Fund Adaptation Projects

A further wrinkle in the blending of mitigation and adaptation, this one from a religious organization:

“Environmental consultancy and green project developer CarbonAided has announced a new initiative to raise funds for climate change adaptation projects supported by respected civic and church agencies….Under the new scheme, revenue generated from the trade in carbon offsets will be channelled into projects that help developing countries adapt to the effects of climate change.

CarbonAided have developed an initiative to urge offset buyers to invest at least 5% of what they spend on offsets in the purchase of Adaptation Credits. All revenue generated by the sale of these Adaptation Credits will be ploughed into adaptation projects handled by charities on a not for profit basis. In addition, CarbonAided have pledged to donate 10% of their profit to adaptation projects.”

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