Commons' Guide to the Carbon Economy
What is carbon?
Carbon is an element that’s found in all forms of life. There is a natural balance of carbon stored in plants, animals, oceans, and atmosphere, but we’ve disrupted that carbon cycle. We’ve extracted too much carbon and released it into the atmosphere, without leaving enough grounded in life on Earth. To manage the climate crisis, we need to restore balance in the carbon cycle. We do that by releasing less carbon into the atmosphere and storing more in organic matter.
What are carbon emissions?
Carbon dioxide (CO2) is created in various ways, like organisms decomposing or carbon burning. Carbon dioxide is a type of greenhouse gas (GHG), but there are other emissions that have warming effects on our planet, including methane, and nitrous oxide. Carbon dioxide is the most abundant greenhouse gas, so we often use “carbon emissions” as shorthand for greenhouse gas emissions, and you’ll often see measurements of these gases converted into carbon dioxide equivalents (CO2e).
At the rate humans burn fossil fuels, we’re adding CO2 into the atmosphere faster than the natural world can absorb it. Scientists agree that 350 ppm* (parts per million) represents the “safe level” of carbon dioxide in the atmosphere, but we blazed past safe levels in 1988. As of 2021 are now at 416 ppm, levels that are unprecedented in the last 800,000 years.
* How the World Passed a Carbon Threshold and Why It Matters - Yale E360
What is global warming?
Global warming is the term often used to describe the rise in the global average temperature, but some scientists say global heating is more accurate.
The global temperature has been rising for the past century due to an unprecedented levels of CO2e emissions that humans have released into the atmosphere, most of them derived from fossil fuels.
This carbon buildup has already warmed the planet by 1.2ºC, compared to pre-industrial levels. That number may seem small, but its effects are drastic, causing deadly climate disasters and devastating communities and environments. To prevent the worst case warming scenarios and preserve a livable future for all of us, we need to rebalance our carbon cycle.
EPA: Atmospheric Concentrations of Greenhouse Gasses
What do fossil fuels have to do with carbon emissions?
Fossil fuels (oil, natural gas, and coal) are the concentrated remains of plants and animals from millions of years ago. As they decomposed, the carbon and other elements left behind turned into oil, gas, and coal. We call these fossil fuels, and when we burn them, we release that millenia old carbon back into the atmosphere.
What is the carbon economy?
When we think about the economy, we think about humans’ production and consumption of goods and services. The carbon economy is a way to understand and quantify our impact on the planet through our production and consumption of carbon.
Carbon emissions are the shadow currency of our economy. In addition to monetary cost, each of our transactions has a carbon cost. The carbon cost of all our economic activity is what we call the carbon economy.
How can I shape the carbon economy?
We can shape the carbon economy by the way we engage in the world politically, at work, in our communities, and through our daily activities. There are six systems of the carbon economy that we can influence with our spending and money.
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(1) Utilities
$2 trillion | Influences 20% of global emissions
Decarbonizing the electricity we use at home is a huge opportunity for climate impact. Globally, 80% of energy is generated using fossil fuels. To meet our global climate goals, about two-thirds of electricity needs to be renewable by 2030.
(2) Offsets
$2 billion | Influences 1% of global emissions
Offsetting is a way to compensate for the emissions we can’t avoid by funding projects that absorb existing emissions or avoid new ones. Offset projects can also restore ecosystems and communities.
(3) Food & drink
$6 trillion | Influences 21% of global emissions
Transforming our food and farming systems is a major opportunity for impact. Curating what and how we eat advocates for food systems that nurture the planetearth, instead of depleting it.
(4) Finance
$25 trillion | Influences 6% of global emissions
Money makes the world go round. But financial activity leaves a footprint, too. Divesting from dirty energy is a way to invest in our future.
(5) Goods & Services
$18 trillion | Influences 15% of global emissions
The stuff we buy – whether it’s a shirt or a Netflix subscription – requires energy and resources to produce. Shopping more sustainably saves money and cuts carbon.
(6) Travel
$9 trillion | Influences 11% of global emissions
Exploring our planet helps us appreciate all that’s worth protecting. We can honor Earth by embracing slower, more conscious travel. Appreciate the journey and the destination.
What is carbon intuition?
You’ve built an instinct for the financial economy. For example, you have an idea of how much money you need for a gallon of milk or a gallon of gas.
Commons helps you cultivate your carbon intuition to understand where carbon emissions are embedded in the supply chains and power sources we rely on. When you understand the carbon emissions of a cross-country flight versus a beef burger, you can start to assign a climate value to your purchases and actions using the earth’s currency — carbon. As you build your carbon intuition, you can better understand where to focus your efforts and how to reduce emissions.
What is a carbon footprint?
Carbon footprints are a simple way to express the greenhouse gas emissions produced by a person, organization, or activity. Footprints are measured in kilograms of carbon dioxide equivalent (kg CO2e).
Carbon footprints calculate the emissions associated with an activity from production to final use. Our personal footprints include emissions we have “direct” control over (like our home energy use) and “indirect” emissions linked to the products and services we consume.
Carbon footprints evolved from research on “ecological footprints”, by Dr. William Rees and Mathis Wackernagel at the University of British Columbia.
Read the complicated history of the carbon footprint →
Is it individuals’ responsibility to lower emissions?
Companies and governments influence 100% of global emissions. To build a low-carbon economy, we need bold corporate action and sweeping legislation.
But entrenched power and systems don’t change on their own. Individuals have agency when we organize and act collectively. We have a responsibility to use our political and economic voices to hold industries and governments accountable, and the opportunity to build sustainable and climate resilient communities from the ground up.
What does it mean to be climate neutral?
Climate neutrality is the state of balancing emissions released with emissions absorbed. When you’re climate neutral, you’re removing the emissions you create, often by using offsets.
