A new carbon consultancy is calculating the global greenhouse gas emissions being saved by people working from home due to the coronavirus outbreak, and it is packaging and selling the reductions as voluntary carbon offsets.
AFD International is offering Corona Credits – a name and offset standard that it has trademarked – for $19 per tonne, a price it said was inspired by COVID-19.
“The personal sacrifices and massive reductions in carbon emissions we’re seeing around the world thanks to this crisis shouldn’t be for nothing,” said AFD Director Anita Lyfe.
“Our Corona Credits allow people stuck at home 24/7 to further reduce their CO2 footprints, for example from their Netflix addictions or all-toast diets, or to feel less guilty once they re-emerge from their extended lockdowns and book multiple holidays abroad or go on meat-eating binges.”
Lyfe said she also wants to quantify the emissions cuts to be able to demonstrate what kind of savings would be achievable in normal times through a drastic decrease in commuting and a ban on public social interactions, and to promote such permanent measures to combat climate change.
Because COVID-19 originated in China and flourished in Europe, AFD is also lobbying governments to allow emitters to surrender its credits for compliance in emissions trading schemes in those regions.
It added that as it is also monetising the emissions reduced from grounded airline fleets worldwide, it has applied to have its Corona Credits and methodologies approved under ICAO’s global CORSIA aviation offsetting scheme.
The firm is offering any units resulting from saved aircraft emissions to the industry at a 50% discount, or for $9.50/tonne.
In addition, AFD is working on a protocol to calculate the offsets being generated from the CO2 being saved by people wearing surgical face masks, including doctors and other medical professionals, and has also filed an international trademark application to secure the rights to generate carbon credits from any future pandemic.