Carbon Trading shows promise for a sustainable economic model.
ORANJESTAD - Recently, the Metabolic Foundation completed a survey to explore accessible options for carbon trading in Aruba.
The Ministry of Economic Affairs, Communication, and Sustainable Development commissioned an investigation into the potential benefits of carbon trading, an initiative within the 2023-2025 Action Plan: Aruba’s transition to a sustainable and inclusive economic model. This study aimed to analyze the opportunities and advantages of buying and selling carbon credits in Aruba, which could even serve as an additional source of income for the country.
The goal was to determine how many CO2 credits (1 credit = 1 ton CO2) Aruba could produce through various sustainable projects and their potential value now and in the future to assess the feasibility of buying and selling them on the international market.
Carbon trading is based on the concept that individuals or companies responsible for CO2 emissions can buy carbon credits from entities actively contributing to environmentally friendly practices, thereby mitigating their impact on climate change. Carbon credit accumulation is through project development, namely solar panels or wind turbines, and the preservation of natural reserves.
Mangroves and seagrass are also essential for preservation, as they absorb much more CO2 than regular land-based trees. Other technological initiatives that either reduce CO2 emissions or capture it (Carbon Capture) also help accumulate carbon credits.
Based on the promising initial results of the survey, it has become clear that carbon trading is a viable option for Aruba. The next phase will involve preparing a platform for buying and selling carbon credits. Using carbon trading contributes to more sustainable development by encouraging practices that reduce CO2 and promoting investment in renewable energy.