There can be profits in conservation of forests through carbon credit system: Study
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Posted On: 21-Jun-2009 07:47:00 AM
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A new study reveals that conserving forests would be more profitable than clearing them for palm oil if the carbon credits could be sold for $10 to $33 per ton in Thailand.According to the study, a carbon trading market can work much like any commodities market except that traders make their fees selling a ton of carbon dioxide instead of any other commercial or industrial product. Therefore there can be the following two choices for the companies:
Go for a cut in their emissions by retrofitting a factory and selling their permits for a profit
Continue to pollute and buying additional units of carbon dioxide on the open market
"Our study clearly demonstrates that payments made to reduce carbon emissions from forests could also be an efficient and effective way to protect biodiversity," said the lead author Oscar Venter based at University of Queensland in Australia.
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