Speculating on tokenized carbon offsets won't help prevent climate change, consultant Nate Maynard told CoinDesk; BTC plunges below $19K in Thursday trading. thesamReynolds and JPRubin23 report
Tokenized carbon offsets were once a favorite of Web2 investors trying to dip their toes into the Web3 world, while also maintaining a certain distance from what critics call the worst parts of blockchain.spent tens of thousands
“You can’t speculate on carbon offset assets. That’s not how the science works,” Taipei-based carbon consultant Nate Maynard, who also hosts the sustainability science podcast"Waste Not Why Not," told CoinDesk. , which powers BCT, because of BCT's purchases of retired credits for the purpose of speculation. Robin Vix, Verra’s chief legal, policy and markets officer, called what BCT engaged in “mind frying.”
Maynard gives an example of an offsets project he’s familiar with in Myanmar at a mangrove. Mangrove trees are well-known carbon sinks; every tree planted can remove hundreds of kilograms of carbon throughout its lifetime. But if this is going to be commodified and traded, it needs to be verified — and that was going to cost the project close to $1 million, an impossible figure for a budget of its scale.
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