Brilliant research, thanks! Those "trees" in the video are BANANAS, which ARE NOT trees. Thy produce NO WOOD, they STORE no carbon. I have banana "trees" right here in my yard in SW Canada, over 40 of them. Wanna buy some fake offsets? Not even a tree that produces wood (lignin) will hold that carbon for 1000 years. Blockchain registers an enduring fungible asset - a tree is not endurable and an offset it meant to be used, extinguished, when it is applied to the emission. Still, there is no way to trace where the money went, even if you could find the supposed tree.
To state the obvious, that does not mean that the carbon stored in bananas should be traded against emissions from burning fossil fuels. That would be bananas!
Your article is outdated and repeats information that has already been explained. The company even released a statement explaining that 99% of it is incorrect and based on misleading assumptions. If this is the quality you provide, I’ll be unsubscribing. You're just recycling old news from other sources with no real value.
Thanks for this Henk. I've searched for a response from Carbify to the Follow the Money article, but couldn't find anything. There's only one mention of Follow the Money in Carbify's Twitter account.
Brilliant research, thanks! Those "trees" in the video are BANANAS, which ARE NOT trees. Thy produce NO WOOD, they STORE no carbon. I have banana "trees" right here in my yard in SW Canada, over 40 of them. Wanna buy some fake offsets? Not even a tree that produces wood (lignin) will hold that carbon for 1000 years. Blockchain registers an enduring fungible asset - a tree is not endurable and an offset it meant to be used, extinguished, when it is applied to the emission. Still, there is no way to trace where the money went, even if you could find the supposed tree.
Thanks for this Kathleen, but as I pointed out in the article, the brilliant research was by Ties Gijzel and Mira Sys at Follow the Money, not by me.
You're right, bananas are not trees, they are herbaceous plants. Bananas do however temporarily store carbon:
"Large annual herbaceous plants such as banana (Musa spp.) have a very impressive carbon (C) storage and carbon dioxide (CO₂) sequestration in agroecosystems". (https://sci-hub.voed.top/10.4028/www.scientific.net/amr.1010-1012.662)
To state the obvious, that does not mean that the carbon stored in bananas should be traded against emissions from burning fossil fuels. That would be bananas!
classic
Your article is outdated and repeats information that has already been explained. The company even released a statement explaining that 99% of it is incorrect and based on misleading assumptions. If this is the quality you provide, I’ll be unsubscribing. You're just recycling old news from other sources with no real value.
Thanks for this Henk. I've searched for a response from Carbify to the Follow the Money article, but couldn't find anything. There's only one mention of Follow the Money in Carbify's Twitter account.
(https://x.com/search?q=%22Follow%20the%20Money%22%20(from%3ACarbify_io)&src=typed_query&f=top)
Could you please provide a link to Carbify's response?