IW, you say, "They appear to be saying that NRZ is in production." That certainly seems to be the case. For some reason they are treating NRZ as though it is operating at full capacity of one million tonnes PA with a resulting carbon footprint.
From the EDO Climate Active Report.
Leigh Creek (now known as NeuRizer) has also been certified based on the offset of its business operations some 8,500 tonnes of CO2.38 The 1 million tonne of urea produced by their project has a carbon footprint of about 700,000 tonnes of CO2 emissions.
I have to accept this statement as I have no evidence to suggest otherwise.
On the basis of your, "Even I am satisfied that NRZ completely offset all their CURRENT modest emissions, which is all they have to do." You are definitely spot on.
This is something dear to my heart, so please indulge me while I expand on your statement.
Carbon goddam Credits.
In summary, NRZ purchased 13546 tonnes of CO2 emissions from the above three projects.
They used 4965 unites in 21/22
They now have 8580 unite in the bank for use in 22/23. This won't go far when Stage 1 starts belching out CO2 emissions in the very near future.
This is par for the course, so I don't criticise NRZ for participating in this process.
This is the rub.
Take the Malawi situation Give the poor souls a few pots and pans to make their lives a little more bearable, and then proudly reward yourself with 2502 carbon credits. I would have thought this would just be a good neighbourly gesture. Disgusting.
Take the Guatemala situation. Pay the locals to refrain from cutting down their forests. BS. Then proudly reward yourself with 2544 carbon credits. How long do you think the forests are going to last anyway, given the type of information contained in the Four Corners Report?
Take the Indonesian geothermal project. More international aid and goodwill being rewarded with 8500 carbon credits.
IMO, this beggars belief. This type of assistance certainly gives new meaning to philanthropy.
IMO, the future of carbon credits is terminal, they do nothing to lower greenhouse gases, they just pass the problem onto someone else, usually the poor and uninformed.
Just one more thing. NRZ and other companies with high Topic 3 Emissions, might have their Topic 1 & 2 emissions under control, giving them a feeling of purity, but when Topic 3 emissions have to be reported (not far away now) everyone will see the full extent of their pollutive activities, and all hell will break loose. NRZ will be up there with the best of them, coal mines and gas producers included. Get ready for it.
With this in mind one can see why big fertilizer companies, such as Yara and others, are transitioning toward clean hydrogen produced carbon-free synthetic fertilizers.
Now I ask you, who will be keen to give a 20-year $1 billion loan under these circumstances.
That's my rant for today. More than happy to hear and discuss alternative views. J L.
NRZ Price at posting:
8.2¢ Sentiment: None Disclosure: Not Held
(20min delay)