Carbon Offsets: The energy crisis answer to the climate crisis?
The COP 26 conference in Glasgow will need to solve two dilemmas at once: offsets might just be the answer. Get your Free report on how to climate-proof your portfolio: https://join.carboncredits.com/climate-insurance/ For the latest carbon prices and news: https://carboncredits.com/carbon-prices-today/ What do you do when you've got an energy crisis that requires dramatic increases in production, but a climate crisis forcing you to decrease production to reduce CO2 emissions? For the various world leaders meeting in Glasgow in November, that's not a rhetorical question. Europe faces an acute energy shortage, with comparisons being drawn to the 1970s oil crisis. The parallels are more than skin-deep; there's a strong geopolitical element to today's crisis, just like back then. But direct comparisons are rarely cut-and-dried, and Europe's energy crisis owes much to a combination of factors that include a growing but untested renewable energy sector and rising carbon prices. Take the UK as one example. UK natural gas storage is a pitiful 4%, giving virtually no reserves in case of a shortfall. With most of Europe's natural gas supply coming from Russia, that opens a geopolitical weakness. Not to worry, though, because the UK is a bit different - most of their supply comes from Norway, not Russia. Besides, growth in renewable energy investment, including offshore wind farms in the North Sea, would more than cover any gap. But in September and October, the UK was hit with a perfect (non)storm. Geopolitical concerns from Russia led to a constriction of gas prices in the EU. That drove up prices across the board - even the supply from Norway. So what's the takeaway? Watch more to find out. #carbon #COP26 #glasgow
The COP 26 conference in Glasgow will need to solve two dilemmas at once: offsets might just be the answer. Get your Free report on how to climate-proof your portfolio: https://join.carboncredits.com/climate-insurance/ For the latest carbon prices and news: https://carboncredits.com/carbon-prices-today/ What do you do when you've got an energy crisis that requires dramatic increases in production, but a climate crisis forcing you to decrease production to reduce CO2 emissions? For the various world leaders meeting in Glasgow in November, that's not a rhetorical question. Europe faces an acute energy shortage, with comparisons being drawn to the 1970s oil crisis. The parallels are more than skin-deep; there's a strong geopolitical element to today's crisis, just like back then. But direct comparisons are rarely cut-and-dried, and Europe's energy crisis owes much to a combination of factors that include a growing but untested renewable energy sector and rising carbon prices. Take the UK as one example. UK natural gas storage is a pitiful 4%, giving virtually no reserves in case of a shortfall. With most of Europe's natural gas supply coming from Russia, that opens a geopolitical weakness. Not to worry, though, because the UK is a bit different - most of their supply comes from Norway, not Russia. Besides, growth in renewable energy investment, including offshore wind farms in the North Sea, would more than cover any gap. But in September and October, the UK was hit with a perfect (non)storm. Geopolitical concerns from Russia led to a constriction of gas prices in the EU. That drove up prices across the board - even the supply from Norway. So what's the takeaway? Watch more to find out. #carbon #COP26 #glasgow