How the 2022 World Cup rebuilt a market for dodgy carbon credits. worldcup
World Cup organizers have pledged to erase the event’s negative environmental impact. They plan to make the event “carbon neutral” by buying offsets — paying, in theory, for carbon to be removed or reduced from the Earth’s atmosphere somewhere else.In practice, the plan is deeply flawed. Qatar and FIFA not only aren’t mitigating the environmental impact of the event, they may be inadvertently magnifying it. Specifically, they’ve said they want to buy some 1.
That’s no longer the case in most countries. From 2010 to 2021, the cost of renewable power fell by almost 90%. Solar and wind power are in high demand. Where developers don’t need an added incentive to build them, they shouldn’t generate credits that grant others license to pump new emissions into the atmosphere through, say, massive construction projects or air travel.
The Science Based Targets initiative goes further, saying that companies should only buy offsets from projects that actively remove carbon from the atmosphere — a definition that excludes renewable energy projects. Operational since 2019, GCC had until recently certified just a few projects. But the publicity from the World Cup — along with a tightening of standards elsewhere — has lifted its business prospects significantly. The commitment from FIFA and the Supreme Committee to host a carbon neutral tournament and their ambition to source credits from the region gave the GCC plan impetus, Rajhansa said.
Carbon offsets can be bought and sold with little oversight. The United Nations and other global bodies are working on universal standards, and regulators are increasingly interested in the exchanges that have cropped up to connect buyers and sellers. The Supreme Committee said it supported the formation of the GCC in 2016 to contribute to regional climate action, but GCC is now operating as an independent organization. “Sustainability has defined all our planning and operations,” the Committee added, which include a new solar power plant, tree nursery, green spaces and electric buses.
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