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97-466: Hove strove to be an environmentally neutral festival, both buying carbon offset quotes for all power and transportation used during and prior to the festival, and sorting and recycling all trash produced by the event. Preparation for the festival relied heavily on volunteer work. In 2010 there were a total of 2,500 people volunteering for security, stage hand, drivers, kitchen duty and post-festival cleanup. Hove consisted of several different areas such as

194-611: A much greater potential for global warming than carbon dioxide by volume. It is easy to capture and destroy these pollutants at their source. So they present a large low-cost source of carbon offsets. As a category, HFCs, PFCs, and N 2 O reductions represent 71 percent of offsets issued under the CDM. Since many of these are now banned by an amendment to the Montreal Protocol, they are often no longer eligible for offsets or credits. Land use, land-use change and forestry have

291-516: A decline in basic activity level and information usage at 1000 ppm, when compared to 500 ppm. However a review of the literature found that a reliable subset of studies on the phenomenon of carbon dioxide induced cognitive impairment to only show a small effect on high-level decision making (for concentrations below 5000 ppm). Most of the studies were confounded by inadequate study designs, environmental comfort, uncertainties in exposure doses and differing cognitive assessments used. Similarly

388-492: A developed country with relatively high domestic costs of emission reduction would set up a project in another developed country. Offset credits under this program are designated as Emission Reduction Units. The International Emissions Trading program enables countries to trade in the international carbon credit market to cover their shortfall in assigned amount units . Countries with surplus units can sell them to countries that are exceeding their emission targets under Annex B of

485-446: A fixed structure. However, in a Coulomb explosion imaging experiment, an instantaneous image of the molecular structure can be deduced. Such an experiment has been performed for carbon dioxide. The result of this experiment, and the conclusion of theoretical calculations based on an ab initio potential energy surface of the molecule, is that none of the molecules in the gas phase are ever exactly linear. This counter-intuitive result

582-623: A generation. Soil management projects attempt to preserve or increase the amount of carbon sequestered in soil. Deforestation is particularly significant in Brazil, Indonesia, and parts of Africa, accounting for about 20 percent of greenhouse gas emissions. Carbon offsets allow firms to avoid deforestation by paying directly for forest preservation or providing substitutes for forest-based products. Offset schemes using reforestation, such as REDD, are available in developing countries, and are becoming increasingly available in developed countries including

679-611: A glass state similar to other members of its elemental family, like silicon dioxide (silica glass) and germanium dioxide . Unlike silica and germania glasses, however, carbonia glass is not stable at normal pressures and reverts to gas when pressure is released. At temperatures and pressures above the critical point, carbon dioxide behaves as a supercritical fluid known as supercritical carbon dioxide . Table of thermal and physical properties of saturated liquid carbon dioxide: Table of thermal and physical properties of carbon dioxide (CO 2 ) at atmospheric pressure: Carbon dioxide

776-416: A greenhouse gas reduction project in a developing country, where the costs of greenhouse gas reduction activities are usually much lower. The developed country receives credits for meeting its emission reduction targets known as Certified Emission Reductions (CERs), while the developing country receives capital investment and clean technology or beneficial change in land use . Under Joint Implementation ,

873-491: A larger share of this market in the future, compared to renewable energy projects. However, there is evidence that large companies are becoming more reluctant to use VCM offsets and credits because of a complex web of standards, despite an increased focus on net zero emissions goals. In 2022 voluntary carbon market (VCM) prices ranged from $ 8 to $ 30 per tonne of CO 2 e for the most common types of offset projects. Several factors can affect these prices. The costs of developing

970-491: A mature forest will produce as much CO 2 from respiration and decomposition of dead specimens (e.g., fallen branches) as is used in photosynthesis in growing plants. Contrary to the long-standing view that they are carbon neutral, mature forests can continue to accumulate carbon and remain valuable carbon sinks , helping to maintain the carbon balance of Earth's atmosphere. Additionally, and crucially to life on earth, photosynthesis by phytoplankton consumes dissolved CO 2 in

1067-428: A much larger denominator and a much smaller value than the true K a1 . The bicarbonate ion is an amphoteric species that can act as an acid or as a base, depending on pH of the solution. At high pH, it dissociates significantly into the carbonate ion ( CO 2− 3 ): In organisms, carbonic acid production is catalysed by the enzyme known as carbonic anhydrase . In addition to altering its acidity,

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1164-403: A project are a significant factor. Those tied to projects that can sequester carbon have recently been selling at a premium compared to other projects such as renewable energy or energy efficiency. Projects that sequester carbon are also called Nature-Based Solutions. Projects with additional social and environmental benefits can command a higher price. This reflects the value of the co-benefits and

1261-556: A reduction, avoidance or removal of one metric tonne of carbon dioxide or its carbon dioxide-equivalent (CO 2 e). A variety of greenhouse gas reduction projects can qualify for offsets and credits depending on the scheme. Some include forestry projects that avoid logging and plant saplings, renewable energy projects such as wind farms , biomass energy , biogas digesters , hydroelectric dams , as well as energy efficiency projects. Further projects include carbon dioxide removal projects, carbon capture and storage projects, and

1358-416: A study on the effects of the concentration of CO 2 in motorcycle helmets has been criticized for having dubious methodology in not noting the self-reports of motorcycle riders and taking measurements using mannequins. Further when normal motorcycle conditions were achieved (such as highway or city speeds) or the visor was raised the concentration of CO 2 declined to safe levels (0.2%). Poor ventilation

1455-494: A third party verifies the project — generates the carbon offset credit is known as the vintage . In 1977, major amendments to the US Clean Air Act created one of the first tradable emission offset mechanisms, allowing permitted facilities to increase emissions in exchange for paying another company to reduce its emissions of the same pollutant by a greater amount. The 1990 amendments to that same law established

1552-467: A typical single C–O bond, and shorter than most other C–O multiply bonded functional groups such as carbonyls . Since it is centrosymmetric, the molecule has no electric dipole moment . As a linear triatomic molecule, CO 2 has four vibrational modes as shown in the diagram. In the symmetric and the antisymmetric stretching modes, the atoms move along the axis of the molecule. There are two bending modes, which are degenerate , meaning that they have

1649-478: A voluntary market. These programs also have other positive externalities , or co-benefits, which include better air quality, increased biodiversity, and water and soil protection; community employment opportunities, energy access, and gender equality; and job creation, education opportunities, and technology transfer. Some certification programs have tools and research products to help quantify these benefits. Prices for offsets and credits vary widely, reflecting

1746-485: A waste product. In turn, oxygen is consumed and CO 2 is released as waste by all aerobic organisms when they metabolize organic compounds to produce energy by respiration . CO 2 is released from organic materials when they decay or combust, such as in forest fires. When carbon dioxide dissolves in water, it forms carbonate and mainly bicarbonate ( HCO − 3 ), which causes ocean acidification as atmospheric CO 2 levels increase. Carbon dioxide

1843-469: Is Emiliania huxleyi whose calcite scales have formed the basis of many sedimentary rocks such as limestone , where what was previously atmospheric carbon can remain fixed for geological timescales. Plants can grow as much as 50% faster in concentrations of 1,000 ppm CO 2 when compared with ambient conditions, though this assumes no change in climate and no limitation on other nutrients. Elevated CO 2 levels cause increased growth reflected in

1940-419: Is 304.128(15) K (30.978(15) °C) at 7.3773(30) MPa (72.808(30) atm). Another form of solid carbon dioxide observed at high pressure is an amorphous glass-like solid. This form of glass, called carbonia , is produced by supercooling heated CO 2 at extreme pressures (40–48  GPa , or about 400,000 atmospheres) in a diamond anvil . This discovery confirmed the theory that carbon dioxide could exist in

2037-569: Is 53% more dense than dry air, but is long lived and thoroughly mixes in the atmosphere. About half of excess CO 2 emissions to the atmosphere are absorbed by land and ocean carbon sinks . These sinks can become saturated and are volatile, as decay and wildfires result in the CO 2 being released back into the atmosphere. CO 2 is eventually sequestered (stored for the long term) in rocks and organic deposits like coal , petroleum and natural gas . Nearly all CO2 produced by humans goes into

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2134-502: Is a carbon trading mechanism that enables entities to compensate for offset greenhouse gas emissions by investing in projects that reduce, avoid, or remove emissions elsewhere. When an entity invests in a carbon offsetting program, it receives carbon credit or offset credit , which account for the net climate benefits that one entity brings to another. After certification by a government or independent certification body, credits can be traded between entities. One carbon credit represents

2231-604: Is a cap on emissions. Sources of emissions have the flexibility to find and apply the lowest-cost methods for reducing pollution. A central authority or government body usually allocates or sells a limited number (a "cap") of permits. These permit a discharge of a specific quantity of a specific pollutant over a set time period. Polluters are required to hold permits in amounts equal to their emissions. Those that want to increase their emissions must buy permits from others willing to sell them. These programs have been applied to greenhouse gases for several reasons. Their warming effects are

2328-595: Is a diverse range of sources of supply and demand as well as trading frameworks that drive offset and credit markets. Demand for offsets and credits derives from a range of compliance obligations, arising from international agreements, national laws, as well as voluntary commitments that companies and governments have adopted. Voluntary carbon markets usually consist of private entities purchasing carbon offset credits to meet voluntary greenhouse gas reduction commitments. In some cases, non-covered participants in an ETS may purchase credits as an alternative to purchasing offsets in

2425-415: Is a reduction, avoidance, or removal of emissions to compensate for emissions released elsewhere. One carbon credit represents an emission reduction or removal of one metric tonne of carbon dioxide or the equivalent amount of greenhouse gases that contribute equally to global warming (CO 2 e). Carbon credits are a form of carbon pricing , along with carbon taxes and subsidies. Credits can move among

2522-585: Is also taking place through provincial and district governments and at the local level through private landowners. As of 2020, there were over 400 ongoing REDD+ projects globally. Brazil and Colombia account for the largest amount of REDD+ project land area. The Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) is a global, market-based program to reduce emissions from international aviation. It aims to allow credits and offsets for emissions that cannot be reduced by technology and operational improvements or sustainable aviation fuels. To ensure

2619-518: Is also uncertainty about what investors could claim by purchasing various types of carbon credits. REDD+ is a UNFCCC framework, largely addressed at tropical regions in developing countries, that is designed to compensate countries for not clearing or degrading their forests, or for enhancing forest carbon stocks. It aims to create financial value for carbon stored in forests, using the concept of results-based payments. REDD+ also promotes co-benefits from reducing deforestation such as biodiversity. It

2716-415: Is an end product of cellular respiration in organisms that obtain energy by breaking down sugars, fats and amino acids with oxygen as part of their metabolism . This includes all plants, algae and animals and aerobic fungi and bacteria. In vertebrates , the carbon dioxide travels in the blood from the body's tissues to the skin (e.g., amphibians ) or the gills (e.g., fish ), from where it dissolves in

2813-418: Is because it is difficult or impossible to determine their additionality . They usually generate revenue. And they usually involve subsidies or other complex financial arrangements. This can make them ineligible under many offset and credit programs. Methane is a potent greenhouse gas. It is most often emitted from landfills, livestock, and from coal mining. Methane projects can produce carbon offsets through

2910-415: Is because some might claim credit for emission reduction projects that would have been undertaken anyway. At prices of $ 100/tCO 2 e, a variety of carbon removal technologies could deliver around 2 GtCO 2 e per year of annual emission reductions between now and 2050. These technologies include reducing deforestation, forest restoration, CCS, BECCs and renewables in least developed countries. In addition, as

3007-741: Is better forest management. Offset certification and carbon trading programs vary by how much they consider specific projects eligible for offsets or credits. The European Union Emission Trading System considers nuclear energy projects, afforestation or reforestation activities, and projects involving destruction of industrial gases ineligible. Industrial gases include HFC-23 and N 2 O . Renewable energy projects can include hydroelectric, wind, photovoltaic solar, solar hot water, biomass power, and heat production. These types of projects help societies move from electricity and heating based on fossil fuels towards forms of energy that are less carbon-intensive. However, they may not qualify as offset projects. This

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3104-402: Is commercially used in its solid form, commonly known as " dry ice ". The solid-to-gas phase transition occurs at 194.7 Kelvin and is called sublimation . The symmetry of a carbon dioxide molecule is linear and centrosymmetric at its equilibrium geometry. The length of the carbon–oxygen bond in carbon dioxide is 116.3  pm , noticeably shorter than the roughly 140 pm length of

3201-632: Is one of the main causes of excessive CO 2 concentrations in closed spaces, leading to poor indoor air quality . Carbon dioxide differential above outdoor concentrations at steady state conditions (when the occupancy and ventilation system operation are sufficiently long that CO 2 concentration has stabilized) are sometimes used to estimate ventilation rates per person. Higher CO 2 concentrations are associated with occupant health, comfort and performance degradation. ASHRAE Standard 62.1–2007 ventilation rates may result in indoor concentrations up to 2,100 ppm above ambient outdoor conditions. Thus if

3298-410: Is ordinarily a difficult and slow reaction: The redox potential for this reaction near pH 7 is about −0.53 V versus the standard hydrogen electrode . The nickel-containing enzyme carbon monoxide dehydrogenase catalyses this process. Photoautotrophs (i.e. plants and cyanobacteria ) use the energy contained in sunlight to photosynthesize simple sugars from CO 2 absorbed from

3395-405: Is produced as a by-product. Ribulose-1,5-bisphosphate carboxylase oxygenase , commonly abbreviated to RuBisCO, is the enzyme involved in the first major step of carbon fixation, the production of two molecules of 3-phosphoglycerate from CO 2 and ribulose bisphosphate , as shown in the diagram at left. RuBisCO is thought to be the single most abundant protein on Earth. Phototrophs use

3492-469: Is responsible for approving methodologies, setting guidance, and implementing procedures. The preparation work for this is expected to last until the end of 2023. ER credits issued will fall by 2% to ensure that the program as a whole results in an overall Mitigation of Global Emissions. An additional 5% reduction of ERs will go to a fund to finance adaptation. Administrative fees for program management are still under discussion. CDM projects may transition to

3589-472: Is the true first acid dissociation constant, defined as where the denominator includes only covalently bound H 2 CO 3 and does not include hydrated CO 2 (aq). The much smaller and often-quoted value near 4.16 × 10 (or pK a1 = 6.38) is an apparent value calculated on the (incorrect) assumption that all dissolved CO 2 is present as carbonic acid, so that Since most of the dissolved CO 2 remains as CO 2 molecules, K a1 (apparent) has

3686-555: Is the main cause of these increased CO 2 concentrations, which are the primary cause of climate change . Its concentration in Earth's pre-industrial atmosphere since late in the Precambrian was regulated by organisms and geological features. Plants , algae and cyanobacteria use energy from sunlight to synthesize carbohydrates from carbon dioxide and water in a process called photosynthesis , which produces oxygen as

3783-495: Is the primary carbon source for life on Earth. In the air, carbon dioxide is transparent to visible light but absorbs infrared radiation , acting as a greenhouse gas . Carbon dioxide is soluble in water and is found in groundwater , lakes , ice caps , and seawater . It is a trace gas in Earth's atmosphere at 421  parts per million (ppm) , or about 0.042% (as of May 2022) having risen from pre-industrial levels of 280 ppm or about 0.028%. Burning fossil fuels

3880-542: Is the program of choice for most of the forest credits in the voluntary market, and almost all REDD+ projects. The Gold Standard was developed in 2003 by the World Wide Fund for Nature (WWF) in consultation with an independent standards advisory board. Projects are open to any non-government, community-based organization. Allowable categories include renewable energy supply, energy efficiency, afforestation , reforestation, and agriculture. The program also promotes

3977-570: Is the second largest trading system in the world after the Chinese national carbon trading scheme . It covers over 40% of European GHG emissions. California's cap-and-trade program covers about 85% of statewide GHG emissions. Voluntary carbon markets (VCM) are largely unregulated markets where carbon offsets are traded by corporations, individuals and organizations that are under no legal obligation to make emission cuts. In voluntary carbon markets, companies or individuals use carbon offsets to meet

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4074-419: Is trivially due to the fact that the nuclear motion volume element vanishes for linear geometries. This is so for all molecules except diatomic molecules . Carbon dioxide is soluble in water, in which it reversibly forms H 2 CO 3 (carbonic acid), which is a weak acid , because its ionization in water is incomplete. The hydration equilibrium constant of carbonic acid is, at 25 °C: Hence,

4171-465: Is used in CO 2 scrubbers and has been suggested as a possible starting point for carbon capture and storage by amine gas treating . Only very strong nucleophiles, like the carbanions provided by Grignard reagents and organolithium compounds react with CO 2 to give carboxylates : In metal carbon dioxide complexes , CO 2 serves as a ligand , which can facilitate the conversion of CO 2 to other chemicals. The reduction of CO 2 to CO

4268-599: The Acid Rain Trading Program , which introduced the concept of a cap and trade system, which allowed companies to buy and sell offsets created by other companies that invested in emission reduction projects subject to an overall limit on emissions. In the 1990s, regulatory frameworks for the US Clean Water Act enabled mitigation banking and wetlands offsetting, which set the procedural and conceptual precedent for carbon offsetting. In 1997,

4365-630: The European Energy Exchange , Global Carbon Credit Exchange gCCEx, Intercontinental Exchange , MexiCO 2 , NASDAQ OMX Commodities Europe and Xpansiv. Many companies now engage in emissions abatement, offsetting, and sequestration programs, which generate credits that can be sold on an exchange. At the start of 2022 there were 25 operational emissions trading systems around the world. They are in jurisdictions representing 55% of global GDP. These systems cover 17% of global emissions. The European Union Emissions Trading System (EU-ETS)

4462-668: The European Union Emissions Trading System (EU-ETS) and the California Cap and Trade Program. Eligible credits in these programs may include credits that international or independent crediting systems have issued. There are also standards and crediting mechanisms that independent, nongovernmental entities such as Verra and Gold Standard manage. Under the Clean Development Mechanism , a developed country can sponsor

4559-511: The Gold Standard also have detailed guidance on what descriptive terms are appropriate for buyers of offsets and credits. Offsets from past project have to be additional to what would have happened without the project. For future projects, forward crediting is a process where credits are issued for projected emissions reductions, which can be claimed by buyers even before the reduction activities have occurred. When credit holders claim

4656-890: The Sustainable Developments Goals . Projects must meet at least three of those goals besides reducing GHG emissions. Projects must make a net-positive contribution to the economic, environmental and social welfare of the local population. Program monitoring requirements help determine this. A variety of projects can be used to reduce GHG emissions and thus to generate carbon offsets and credits. These can include land use improvement, methane capture, biomass sequestration , renewable energy , or industrial energy efficiency. They also include reducing methane, reforestation and switching fuel, for example to carbon-neutral and carbon-negative fuels . The CDM identifies over 200 types of projects suitable for generating carbon offsets and credits. An example of land use improvement

4753-684: The Verified Carbon Standard issued by Verra, the Gold Standard , the Climate Action Reserve, the American Carbon Registry, and Plan Vivo. Puro Standard, the first standard for engineered carbon removal, is verified by DNV GL. There are also some additional standards for validating co-benefits, including the Climate, Community and Biodiversity Standard (CCB Standard), also issued by Verra, and

4850-526: The Article 6.4 program subject to approval by the country hosting the project, and if the project meets the new rules, with certain exceptions for rules on methodologies. Projects can generally continue to use the same CDM methodologies through 2025. From 2026 on, they must meet all Article 6 requirements. Up to 2.8 billion credits could potentially become eligible for issuance under Article 6.4 if all CDM projects transition. Article 6 does not directly regulate

4947-452: The GHG reductions, they must retire the carbon credits such that cannot be transferred and used. Carbon offsets can be tracked and reported within an offset certification registry, which may contain project information such as project status, project documents, credits generated, ownership, sale, and retirement. The year in which a carbon emissions reduction project — usually the year in which

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5044-573: The Kyoto Protocol was that the marginal cost of reducing emissions would differ among countries. Studies suggested that the flexibility mechanisms could reduce the overall cost of meeting the targets. Offset and credit programs have been identified as a way for countries to meet their NDC commitments and achieve the goals of the Paris agreement at a lower cost. They may also help close the emissions gap identified in annual UNEP reports. There

5141-664: The Kyoto Protocol. Nuclear energy projects are not eligible for credits under these programs. Country-specific designated national authorities approve projects under the CDM. Article 6 of the Paris Agreement continues to support offset and credit programs between countries, including CDM projects from the Kyoto Protocol. Programs now occur to help achieve emission reduction targets set out in each country's nationally determined contribution (NDC). The ITMO system requires "corresponding adjustments" to avoid double counting of emission reductions. Double-counting occurs if both

5238-845: The Social Carbon Standard, issued by the Ecologica Institute. The voluntary carbon markets currently represent less than 1% of the reductions pledged in country NDCs by 2030. It represents an even smaller portion of the reductions needed to achieve the 1.5°C Paris temperature goal pathway in 2030. However, the VCM is growing significantly. Between 2017 and 2021, both the issuance and retirement of VCM carbon offsets more than tripled. Some predictions call for global VCM demand to increase 15-fold between 2021 and 2030, and 100 times by 2050. Carbon removal projects such as forestry and carbon capture and storage are expected to have

5335-517: The US and the UK. Carbon dioxide Carbon dioxide is a chemical compound with the chemical formula CO 2 . It is made up of molecules that each have one carbon atom covalently double bonded to two oxygen atoms. It is found in the gas state at room temperature and at normally-encountered concentrations it is odorless. As the source of carbon in the carbon cycle , atmospheric CO 2

5432-413: The US in 2022. Lower prices on the VCM are in part due to an excess of supply in relation to demand. Some types of offsets are able to be created at very low costs under present standards. Without this surplus, current VCM prices could be at least $ 10/tCO 2 e higher. Some pricing forecasts predict VCM prices could increase to as much as $ 47–$ 210 per tonne by 2050. There could be an even higher spike in

5529-480: The actual reductions achieved. To be credible, the reduction in emissions must meet three criteria: they must last indefinitely, be additional to emission reductions that were going to happen anyway, and must be measured, monitored and verified by independent third parties to ensure that the amount of reduction promised has in fact been attained. A carbon offset or carbon credit is a way of compensating for emissions of carbon dioxide or other greenhouse gases . It

5626-439: The air and water: Carbon dioxide is colorless. At low concentrations, the gas is odorless; however, at sufficiently high concentrations, it has a sharp, acidic odor. At standard temperature and pressure , the density of carbon dioxide is around 1.98 kg/m , about 1.53 times that of air . Carbon dioxide has no liquid state at pressures below 0.51795(10) MPa (5.11177(99) atm ). At a pressure of 1 atm (0.101325 MPa),

5723-430: The atmosphere. Less than 1% of CO2 produced annually is put to commercial use, mostly in the fertilizer industry and in the oil and gas industry for enhanced oil recovery . Other commercial applications include food and beverage production, metal fabrication, cooling, fire suppression and stimulating plant growth in greenhouses. Carbon dioxide cannot be liquefied at atmospheric pressure. Low-temperature carbon dioxide

5820-464: The camp area, festival area and "zero" area. The camp held up to 10,000 campers and was open throughout the festival. The festival area, including the shopping street, was open to everyone who had a day bracelet or festival bracelet. The zero area, which has several fast-food shops, was open to everyone with or without bracelet. The festival had three main performance stages: Hovescenen , Amfiscenen and Teltscenen (tent stage), with Hovescenen being

5917-531: The capture of methane for energy production. Examples include the combustion or containment of methane generated by farm animals by use of an anaerobic digester , in landfills, or from other industrial waste . Carbon offsets that fund renewable energy projects help lower the carbon intensity of energy supply. Energy conservation projects seek to reduce the overall demand for energy. Carbon offsets in this category fund projects of three main types. Cogeneration plants generate both electricity and heat from

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6014-400: The collective label LULUCF. LULUCF projects focus on natural carbon sinks such as forests and soil. There are a number of different types of LULUCF projects. Forestry-related projects focus on avoiding deforestation. They do this by protecting existing forests, restoring forests on land that was once forested, and creating forests on land that previously had no forests, typically for more than

6111-869: The condition. There are few studies of the health effects of long-term continuous CO 2 exposure on humans and animals at levels below 1%. Occupational CO 2 exposure limits have been set in the United States at 0.5% (5000 ppm) for an eight-hour period. At this CO 2 concentration, International Space Station crew experienced headaches, lethargy, mental slowness, emotional irritation, and sleep disruption. Studies in animals at 0.5% CO 2 have demonstrated kidney calcification and bone loss after eight weeks of exposure. A study of humans exposed in 2.5 hour sessions demonstrated significant negative effects on cognitive abilities at concentrations as low as 0.1% (1000   ppm) CO 2 likely due to CO 2 induced increases in cerebral blood flow. Another study observed

6208-474: The cost of using offsets and credits rises, investments in reducing supply chain emissions will become more attractive. Verra was developed in 2005. It is a widely used voluntary carbon standard, which also offers specific methodologies for REDD+ projects. As of 2020, there had been over 1,500 certified VCS projects covering energy, transport, waste, forestry, and other sectors. In 2021, Verra issued 300 MtCO 2 e worth of offset credits for 110 projects. Verra

6305-517: The degenerate pair of bending modes at 667 cm (wavelength 15.0 μm). The symmetric stretching mode does not create an electric dipole so is not observed in IR spectroscopy, but it is detected in Raman spectroscopy at 1388 cm (wavelength 7.20 μm), with a Fermi resonance doublet at 1285 cm . In the gas phase, carbon dioxide molecules undergo significant vibrational motions and do not keep

6402-566: The dispersing effects of wind, it can collect in sheltered/pocketed locations below average ground level, causing animals located therein to be suffocated. Carrion feeders attracted to the carcasses are then also killed. Children have been killed in the same way near the city of Goma by CO 2 emissions from the nearby volcano Mount Nyiragongo . The Swahili term for this phenomenon is mazuku . Adaptation to increased concentrations of CO 2 occurs in humans, including modified breathing and kidney bicarbonate production, in order to balance

6499-541: The effects of blood acidification ( acidosis ). Several studies suggested that 2.0 percent inspired concentrations could be used for closed air spaces (e.g. a submarine ) since the adaptation is physiological and reversible, as deterioration in performance or in normal physical activity does not happen at this level of exposure for five days. Yet, other studies show a decrease in cognitive function even at much lower levels. Also, with ongoing respiratory acidosis , adaptation or compensatory mechanisms will be unable to reverse

6596-551: The electrical conductivity of fully deionized water without CO 2 saturation is comparably low in relation to these data. CO 2 is a potent electrophile having an electrophilic reactivity that is comparable to benzaldehyde or strongly electrophilic α,β-unsaturated carbonyl compounds . However, unlike electrophiles of similar reactivity, the reactions of nucleophiles with CO 2 are thermodynamically less favored and are often found to be highly reversible. The reversible reaction of carbon dioxide with amines to make carbamates

6693-465: The elimination of methane emissions in various settings such as landfills . Many projects that give credits for carbon sequestration have received criticism as greenwashing because they overstated their ability to sequester carbon, with some projects being shown to actually increase overall emissions. Carbon offset and credit programs provide a mechanism for countries to meet their Nationally Determined Contributions (NDC) commitments to achieve

6790-529: The environmental integrity of these offsets, the program has developed a list of eligible offsets that can be used. Operating principles are similar to those under existing trading mechanisms and carbon offset certification standards. CORSIA has applied to international aviation since January 2019. At that point all airlines had been required to report their CO 2 emissions on an annual basis. International flights must undertake offsetting under CORSIA since January 2021. Compliance market credits account for most of

6887-469: The gas deposits directly to a solid at temperatures below 194.6855(30) K (−78.4645(30) °C) and the solid sublimes directly to a gas above this temperature. In its solid state, carbon dioxide is commonly called dry ice . Liquid carbon dioxide forms only at pressures above 0.51795(10) MPa (5.11177(99) atm); the triple point of carbon dioxide is 216.592(3) K (−56.558(3) °C) at 0.51795(10) MPa (5.11177(99) atm) (see phase diagram). The critical point

6984-687: The goals of the Paris Agreement . Article 6 of the Paris Agreement includes three mechanisms for "voluntary cooperation" between countries towards climate goals, including carbon markets . Article 6.2 enabled countries to directly trade carbon credits and units of renewable power with each other. Article 6.4 established a new international carbon market allowing countries or companies to use carbon credits generated in other countries to help meet their climate targets. Carbon offset and credit programs are coming under increased scrutiny because their claimed emissions reductions may be inflated compared to

7081-593: The goals they set themselves for reducing emissions. Credits are issued under independent crediting standards. Some entities also purchase them under international or domestic crediting mechanisms. National and subnational programs have been increasing in popularity. Many different groups exist within the voluntary carbon market, including developers, brokers, auditors, and buyers. Certification programs for VCMs establish accounting standards, project eligibility requirements, and monitoring, reporting and verification (MRV) procedures for credit and offset projects. They include

7178-601: The harvestable yield of crops, with wheat, rice and soybean all showing increases in yield of 12–14% under elevated CO 2 in FACE experiments. Increased atmospheric CO 2 concentrations result in fewer stomata developing on plants which leads to reduced water usage and increased water-use efficiency . Studies using FACE have shown that CO 2 enrichment leads to decreased concentrations of micronutrients in crop plants. This may have knock-on effects on other parts of ecosystems as herbivores will need to eat more food to gain

7275-423: The host country and purchasing country count the reduction towards their target. If the receiving country uses ITMOs towards its NDC, the host country must discount those reductions from its emissions budget by adding and reporting that higher total in its biennial reporting. Otherwise Article 6.2 gives countries a lot of flexibility in how they can create trading agreements. The supervisory board under Article 6.4

7372-427: The largest. One of the more prominent acts at Hovescenen was Muse in 2010. In 2007 there were 72,000 visitors and 53,000 sold tickets, which included 7,700 week passes, making this Norway's largest music festival of the year. Program 2007 Tuesday 26 June Wednesday 27 June "In southern Norway the sun only sets for two hours," noted Brandon Flowers of The Killers . "We headlined and we came off just as it

7469-444: The majority of the carbon dioxide is not converted into carbonic acid, but remains as CO 2 molecules, not affecting the pH. The relative concentrations of CO 2 , H 2 CO 3 , and the deprotonated forms HCO − 3 ( bicarbonate ) and CO 2− 3 ( carbonate ) depend on the pH . As shown in a Bjerrum plot , in neutral or slightly alkaline water (pH > 6.5), the bicarbonate form predominates (>50%) becoming

7566-443: The most prevalent (>95%) at the pH of seawater. In very alkaline water (pH > 10.4), the predominant (>50%) form is carbonate. The oceans, being mildly alkaline with typical pH = 8.2–8.5, contain about 120 mg of bicarbonate per liter. Being diprotic , carbonic acid has two acid dissociation constants , the first one for the dissociation into the bicarbonate (also called hydrogen carbonate) ion ( HCO − 3 ): This

7663-495: The offset and credit market today. Trading on voluntary carbon markets was 300 MtCO 2 e in 2021. By comparison, the compliance carbon market trading volume was 12 GtCO 2 e, and global greenhouse gas emissions in 2019 were 59 GtCO 2 e. Currently several exchanges trade in carbon credits and allowances covering both spot and futures markets. These include the Chicago Mercantile Exchange , CTX Global,

7760-630: The original international compliance carbon markets emerged from the Kyoto Protocol , which established three mechanisms that enable countries or operators in developed countries to acquire offset credits. One mechanism was the Clean Development Mechanism (CDM), which expanded the concept of carbon emissions trading to a global scale, focusing on the major greenhouse gases that cause climate change : carbon dioxide (CO 2 ), methane , nitrous oxide (N 2 O), perfluorocarbons , hydrofluorocarbons , and sulfur hexafluoride . The Kyoto Protocol

7857-517: The perceived value of association with these projects. Credits from a reputable organization may command a higher price. Some credits located in developed countries may be priced higher. One reason could be that companies prefer to back projects closer to their business sites. Conversely, carbon credits with older vintages tend to be valued lower on the market. Prices on the compliance market are generally higher. They vary based on geography, with EU and UK ETS credits trading at higher prices than those in

7954-495: The presence of carbon dioxide in water also affects its electrical properties. When carbon dioxide dissolves in desalinated water, the electrical conductivity increases significantly from below 1 μS/cm to nearly 30 μS/cm. When heated, the water begins to gradually lose the conductivity induced by the presence of C O 2 {\displaystyle \mathrm {CO_{2}} } , especially noticeable as temperatures exceed 30 °C. The temperature dependence of

8051-499: The presence of sufficient oxygen, manifesting as dizziness, headache, visual and hearing dysfunction, and unconsciousness within a few minutes to an hour. Concentrations of more than 10% may cause convulsions, coma, and death. CO 2 levels of more than 30% act rapidly leading to loss of consciousness in seconds. Because it is heavier than air, in locations where the gas seeps from the ground (due to sub-surface volcanic or geothermal activity) in relatively high concentrations, without

8148-496: The products of their photosynthesis as internal food sources and as raw material for the biosynthesis of more complex organic molecules, such as polysaccharides , nucleic acids , and proteins. These are used for their own growth, and also as the basis of the food chains and webs that feed other organisms, including animals such as ourselves. Some important phototrophs, the coccolithophores synthesise hard calcium carbonate scales. A globally significant species of coccolithophore

8245-420: The same amount of protein. The concentration of secondary metabolites such as phenylpropanoids and flavonoids can also be altered in plants exposed to high concentrations of CO 2 . Plants also emit CO 2 during respiration, and so the majority of plants and algae, which use C3 photosynthesis , are only net absorbers during the day. Though a growing forest will absorb many tons of CO 2 each year,

8342-411: The same frequency and same energy, because of the symmetry of the molecule. When a molecule touches a surface or touches another molecule, the two bending modes can differ in frequency because the interaction is different for the two modes. Some of the vibrational modes are observed in the infrared (IR) spectrum : the antisymmetric stretching mode at wavenumber 2349 cm (wavelength 4.25 μm) and

8439-554: The same power source. This improves upon the energy efficiency of most power plants. That is because these plants waste the energy generated as heat. Fuel efficiency projects replace a combustion device with one using less fuel per unit of energy provided. They can do this by optimizing industrial processes , reducing energy costs per unit. They can also optimize individual action , for example making it easier to cycle to work instead of driving. Industrial pollutants such as hydrofluorocarbons (HFCs) and perfluorocarbons (PFCs) have

8536-415: The same regardless of where they are emitted. The costs of reducing emissions vary widely by source. The cap ensures that the environmental goal is attained. As of 2022, 68 carbon pricing programs were in place or scheduled to be created globally. International programs include the Clean Development Mechanism , Article 6 of the Paris Agreement , and CORSIA . National programs include ETS systems such as

8633-614: The short term in certain scenarios. A major factor in future price models is the extent to which programs that support more permanent removals can influence future global climate policy. This could limit the supply of approvable offsets, and thereby raise prices. Demand for VCM offsets is expected to increase five to ten-fold over the next decade as more companies adopt Net Zero climate commitments. This could benefit both markets and progress on reducing GHG emissions. If carbon offset prices remain significantly below these forecast levels, companies could be open to criticisms of greenwashing . This

8730-429: The uncertainty associated with verifying the indirect value of carbon offsets. At the same time, uncertainty has caused some companies to become more skeptical about buying offsets . Emissions trading are now an important element of regulatory programs to control pollution, including GHG emissions. GHG emission trading programs exist at the sub-national, national, and international level. Under these programs, there

8827-535: The upper ocean and thereby promotes the absorption of CO 2 from the atmosphere. Carbon dioxide content in fresh air (averaged between sea-level and 10 kPa level, i.e., about 30 km (19 mi) altitude) varies between 0.036% (360 ppm) and 0.041% (412 ppm), depending on the location. In humans, exposure to CO 2 at concentrations greater than 5% causes the development of hypercapnia and respiratory acidosis . Concentrations of 7% to 10% (70,000 to 100,000 ppm) may cause suffocation, even in

8924-508: The various markets they are traded in. There are several labels for one-tonne emission reductions, including " Verified Emission Reduction " or " Certified Emission Reduction ". The label depends on the particular program that certifies a reduction project. At COP27 , negotiators agreed to define offsets and credits issued under Article 6 of the Paris Agreement as " mitigation contributions " in order to discourage carbon neutrality claims by buyers. Certification organizations such as

9021-738: The voluntary carbon markets. In principle, it is possible to issue and purchase carbon offsets without reference to Article 6. It is possible that a multi-tier system could emerge with different types of offsets and credits available for investors. Companies may be able to purchase 'adjusted credits' that eliminate the risk of double counting. These may be seen as more valuable if they support science-based targets and net-zero emissions. Other non-adjusted offsets and credits could support claims for other environmental or social indicators. They could also support emission reductions that are seen as less valuable in terms of these goals. Uncertainty remains around Article 6's effects on future voluntary carbon markets. There

9118-546: The water, or to the lungs from where it is exhaled. During active photosynthesis, plants can absorb more carbon dioxide from the atmosphere than they release in respiration. Carbon fixation is a biochemical process by which atmospheric carbon dioxide is incorporated by plants, algae and cyanobacteria into energy-rich organic molecules such as glucose , thus creating their own food by photosynthesis. Photosynthesis uses carbon dioxide and water to produce sugars from which other organic compounds can be constructed, and oxygen

9215-408: Was getting dark. We dried off and I sent to see Bright Eyes at 1am, just as it was getting light. That was incredibly moving." Thursday 28 June Friday 29 June Saturday 30 June 23 – 27 June 2008, lineup: 22 – 25 June 2008, lineup: 29 June – 2 July lineup 28 June – 1 July lineup Carbon offset Carbon offsetting

9312-645: Was introduced in its basic form at COP11 in 2005 and has grown into a broad policy initiative to address deforestation and forest degradation. In 2015, REDD+ was incorporated into Article 5 of the Paris Agreement. REDD+ initiatives typically compensate developing countries or their regional administrations for reducing their emissions from deforestation and forest degradation. It consists of several stages: One, achieving REDD+ readiness; two, formalizing an agreement for financing; three, measuring, reporting, and verifying results; and four, receiving results-based payments. Over 50 countries have national REDD+ initiatives. REDD+

9409-665: Was to expire in 2020, to be superseded by the Paris Agreement. Countries are still determining the role of carbon offsets in the Paris Agreement through international negotiations on the agreement's Article 6. In November 2024, after years of deadlock, governments attending the COP29 conference in Baku , Azerbaijan agreed to rules on creating, trading and registering emission reductions and removals as carbon credits that higher-emission countries can buy, thus providing funding for low-emission technologies. The economics behind programs such as

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