Bloomberg Originals 
Imagine a financial tool that lowers greenhouse gasses, speeds the green transition and rejuvenates forests. That’s the promise of carbon offsets, but far from the reality. In this segment from Getting Warmer, Kal Penn explains how carbon offset markets work, or in most cases don’t.
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Getting Warmer is Bloomberg’s exclusive new show about climate, clean energy and business, anchored by actor and former White House aide Kal Penn.
Accompany him on his journey as he takes an up-close look at bold climate solutions and discovers new facets of the global transition to clean energy.
In a hosted studio segment, Penn sifts through the overwhelming news about our climate and breaks down the facts and trends to understand with a dose of humor and optimism. Why are the recycling symbols on your plastic cups misleading? How does the carbon credit market work and does it actually help? And what is the future of water in a drought-ridden world?
On the road, Penn meets the innovators, researchers, communities and businesses pivoting to new energy sources and spearheading low-carbon technologies. In documentary segments, Penn speaks to the self-declared “crypto cowboys” of Texas who claim Bitcoin mining can help stabilize the state’s troubled electrical grid, and travels to Nevada to visit the company attempting to build America’s first closed-loop supply chain for electric vehicles. In New York, Penn explores the urban designs proposed to save the city from the next Superstorm Sandy and goes inside New York’s Empire State building to investigate the challenges of decarbonizing our cities and landmarks.
The show builds on, and includes contributions from, Bloomberg Green’s award-winning team of climate journalists as well as London-based climate storytellers Jack Harries and Alice Aedy. With a focus on the most pressing questions for young viewers, Jack and Alice unpack one big idea each episode. From recycled wastewater to regenerative agriculture and the challenges of a just transition for workers in the energy sector, they’ll break down how countries across the world are finding intriguing solutions to our climate crisis, and outline the challenges ahead.
Watch Getting Warmer starting February 1st at 8p EST streaming on Bloomberg channels on Connected TV Devices including Samsung TV+, LG Channels, and Fire TV. And on & Bloomberg.com.
You can also watch on Bloomberg TV (BTV) at 10p ET.
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About The Author
So trees dont off set co2??
From a doctor to be an Activist.
Great Job Kumar 👏
Carbon credits will start civil war! Remember what happen to France in the 1700s
Government push people ,people will push back! This Government should think about it ! Especially after having two wars in this country! { Revolutionary War and Civil War}
It is a scam to fool the people the transition is progressing well.
keep emitting carbon but cancel out those emissions by purchasing "carbon offsets" what a scam! Who sells these "offsets' how much money has been taken since it doesn't produce anything that is valuable? Only the government an it's cronies could think this up!
Carbon offset money are going back to big companies pockets… What a joke
Its climate bribe.
Get back on the bongs bro
Fossil fuel is already the worlds cleanest energy source. So called renewable energy sources does more environmental damage than fossil fuel.
I want to ask that, which of carbon offset and decarbonization is the best option?
Easy on the coca bud 🍚
Which one is strictly for the Elites????
I chose that one.
in other words climate change is just a business?!
Kal Peen needs to be in whatever Kiefer Sutherland does next. Juror
what a jokeonly the dems think you can cut 6 inches off the top of a blanket and sew it on the bottom and think you have a bigger blanket
This is pretty much like punching someone in the face at recess, being told by the teacher and your parents to apologize and then giving a fake apology with your fingers crossed behind your back 🤷🏻♂️
so these are similar to recycling plastics….
Ironically everyone needs to be negative 10 for 50 years to get back to what we once were lol
He just exposed the whole scam, it's the monetary side, it's a new economy
It seems like business as usual. We are doomed. Thanks for the report
Okay now i understand what this is – Ive watched 3 other videos befre yours just trying to understand what the heck Carbon offset is – i think they all just wanted to sound smart that it just made their explanations more complicating – thank you!
What a bullshet as a scientist this is a propaganda and it’s a lie. Thanks for Al Gore.
Don't listen to this stoner
There is nit a Hugh public demand. It is a corporate way to raise the barrier to entry for new companies and curve innovation by raising the cost to get started. Then, the government gets money for nothing.
NO to carbon tax.
All of the major Forest fires in the last 20 years were due to not cleaning up the dried ded wood this poor forest management all the flooding is due to the reclaiming of marsh land and or the sea and not doing enough to keep the water from backing up or braking through the flood enhancements. Holland land mass is mostly under the sea level and they don't get flooded, most of Tokyo japan is all reclaimed land from the sea as well and they don't have flooding issue. Even with all the forest fires the earth has greened by 20% due to higher CO2 levels that the equivalent of the contental USA anyone anti CO2 are anti human if the CO2 levels drop below 150 ppm we are all dead
Physics can't be negotiated.
I liked you better as a press secretary to President Kirkman.
The problem is you want your cake and eat it. Sure there will be scams but offsets are legitimate strategies. There will never be a time when carbon is never emitted from some activities so get use to the real world.
Scam
Paper Industry must be among the greenest Industry without breaking a sweat
Even if carbon offsets were straightened up to work properly, how much could they do? CO2 emissions have to be dropped below 5% to actually stop the climate change they're causing. No matter how much offsets became accurate it won't be enough to counter carbon effects.
Carbon offsets aren't a scam its carbon avoidance that is. Avoidance credits are cheap and not effective meaning companies will buy them to green wash. Where carbon credits like removal and renewable are effective with helping us reach net zero but are much more expensive meaning companies wont want to buy them while avoidance is around. Get rid of avoidance now!
💖
co2 is not pollution.
I can't believe this is real.
Monetizing political repression. What an idea!
Technocracy ring a bell?
Now I get it. The right choice of words should be “Penalty Payment” or “Pollution Rental Payment” so that people understand it better.
No matter which of the 2 terms you choose, a different wording allows for the idea to become clearer.
Companies want to keep polluting until they reduce their carbon emissions fully, which will take a ton of time.
So, for now they keep polluting but pay this penalty fee or rental fee of the air, so to speak, in return so that they can keep polluting without people getting angry.
Why don’t people get angry?
Because this penalty fee or rental fee of the air is paid to organizations who protect the environment and work in eco-friendly projects that reduce carbon emissions worldwide.
So as long as this companies keep polluting, hopefully while on track to reducing their carbon emissions fully, they will have to keep paying these “fees” to the people that protect the environment so that their projects remain, keeping the natural environment safe.
A balance of sorts for now until things change fully.
Carbon footprint is all bullcrap slush funding again. Only because they see it as a tax of some sort to raine in on. Thats it