The snags of Carbon Banking
Rabobank has recently become a Carbon Bank. At Carbon Banking, Rabobank is the intermediary for small African farmers and polluting companies who want to compensate for CO2.
How does Carbon Banking work? For example, farmers have mango trees on their property among the crops, which absorb CO2 in their growing process. Farmers can sell these CO2 rights to polluting companies. This provides the farmers with money, they have earned back their investment in the trees. In addition, the trees provide extra income by selling their fruit and protect livestock and crops from heat.
According to Rabobank, there is of course a positive impact. It removes the financial barriers for African farmers to go green. They also only want to work with companies that are already working on sustainability, not those that remain gray.
We are not yet convinced, what do you think about this form of CO2 compensation?
Hedgehog Company is affiliated with various compensation partners, each with their own sustainable compensation project. Curious?