Poor countries need trillions of dollars to go green. A long-shot effort aims to generate the cash

By Jamie Keaten
The Associated Press in the Washington Post
December 12, 2023
Category: Carbon, Climate & Bioenergy
Region: International

DUBAI — A large, long-shot effort is being developed to mobilize money to save Planet Earth. Climate finance experts say trillions of dollars are needed for forestry projects and renewable energies like solar and wind in the developing world. …The price tag is eye-watering. …Enter a plan to combine the cash-churning power of the private sector with carbon credits. …Carbon markets already exist and come with a good deal of baggage, so the plan has plenty of naysayers. …Such voluntary schemes would resemble carbon offsets like those long offered by airlines to travelers, who willingly pay an extra fee to compensate for the carbon generated by their flights, often to fund tree-planting projects or protection of existing forests. Countries that take part could generate carbon credits based on projects aimed to meet their own climate goals, such as protecting existing forests from development or shutting coal-fired plants. [to access the full story a Washington Post subscription is required]

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