Gabon’s issuance of carbon credits to be world’s largestBloombergGabon, the second-most forested nation after Suriname, aims to create 187 million carbon credits, almost half of which could be sold on the offsets market in what would be the single largest issuance in history. Photo: AFPThe carbon credits “will probably come on to market just before COP27,” White said, referring to the UN climate change conference scheduled for November in Egypt. Ninety million credits will be sold, and “non-market” mechanisms will be used for the balance, he said. Carbon credits are tokens representing 1 tonne of climate-warming carbon dioxide that is reduced, removed or not added to the atmosphere, and companies use them to offset their own emissions. Credits can be traded on the international market for carbon production rights, or firms can invest in projects to produce credits themselves.

Source: Taipei Times July 01, 2022 02:34 UTC