Are Carbon Credits Just a Clever Scheme to Make Money?
Meet Tom Arnold, chief environmental officer of Terrapass. The company sells TerraPasses. Buy one and sponsor renewable energy projects such as wind farms, thereby partly or fully counterbalancing your own carbon emissions. How does Terrapass guarantee that their passes indeed lead to carbon emission reductions? Who buys these passes? Is buying a TerraPass an effective way to help reduce global climate change and/or a way to buy off guilt about emitting carbons and a clever ploy to make some money?
In this first in a two-part installment of SmartEnergy, my students talk to Tom about Terrapass, its business strategies and its ambitions.