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Sandbag Your Carbon Credits

Sandbag, an environmental group that seeks to affect carbon reduction, has a novel approach to the climate problem: buying carbon credits. The group, based in the UK, is using private funds to buy carbon permits in the European Union to make carbon production more expensive for multiple industry.

This approach is centers on negotiating the sale of carbon permits from organizations or businesses that do not take full use of their allotment. Currently, 50% of all carbon produced in the European Union is governed by a carbon cap and trade program. For example, Sandbag recently entered into an agreement with a hospital in England to buy unused carbon credits. These purchased credits are then canceled by the group, making the remaining credits more valuable. This was a foolproof plan until a certain global financial collapse occurred.

Sandbay Carbon Purchase

According to a report produced by the group carbon permits are not being fully used because of dwindling consumption. This causes carbon to actually become cheaper in the process. The European Union Greenhouse Gas Emission Trading System reports that companies will now have no incentive to reduce carbon and actually make windfall profits from sale of these permits. Sandbag is trying to lobby the European Union to reduce permits to make the program work as designed. The proposal mirrors that of ones put forward by Ireland and France.

To learn more about the group follow the link provided above and view videos and interactive carbon maps at the site.