Re: The Climate Thread
Reply #29 –
I was interested to read about the Chairperson of a major Superannuation Fund calling for our government to end to carryover credits.
Primarily they have been used/gamed by some governments and large multinationals as a stalling tactic, a way to carry on regardless while others make up for them ignoring climate action. For example, the concept that a large car company that has reduced the fuel consumption of it's vehicles in previous years gets a credit.
A good example of gaming, I believe one SE Asian nation / organisation obtained credits for planting oil palm as a form of greenhouse offset/reduction despite that planting occurring as a replacement of previously destroyed old growth forest.
btw., I've read reports that rebut the claim carryover credits benefit multinationals as they are only applied to nation states, but the problem is governments own some of the biggest offenders!
But I concede, while it will force more to become genuinely involved in the process it may also have a negative impact on certain sectors. Those credits, when not being gamed, are often what fund some of the most aggressive and progressive forward action. This is perhaps where a big superannuation fund can flex it's muscle.