The startup Gigablue announced with fanfare this year that it reached a historic milestone: selling 200,000 carbon credits to fund what it describes as a groundbreaking technology in the fight against climate change.
the company says it has designed particles that when released in the ocean will trap carbon at the bottom of the sea.
Gigablue expects the carbon to be trapped there for hundreds to thousands of years.
While Gigablue has made several commercial deals, it has not yet revealed what its particles are made of. (…) “It’s proprietary,”
The success of the company’s method, they said, will depend on how much algae grows on the particles, and the amount that sinks to the deep ocean. So far, Gigablue has not released any studies demonstrating those rates.
“What we’ve got is a situation of a company, a startup, upfront selling large quantities of credits for a technology that is unproven,”
Aren’t carbon credits basically a scam anyways?
It’s a buy your right to pollute scheme.
To my understanding, the overwhelmingly vast majority of carbon offsets and carbon credits are at best ineffective or at worst just scams. Consequently, they lead to more emissions and are used to delay the phasing out of fossil fuels.
