Coldplay, already renowned for backing good causes, have joined the fight against climate change. Along with fellow band Scissor Sisters and actor Orlando Bloom, the musicians are supporting the Global Cool Foundation, a charity aiming to boost the value of carbon credits and thus combat global warming.
Launched on 30 January in London and Los Angeles, the foundation aims to buy up carbon credits and hold onto them, making them more scarce and boosting their value.
Members of the public can 鈥渂uy a tonne of cool鈥� by purchasing a carbon-tonne credit at 拢20 鈥� well above carbon鈥檚 current market price of just over 拢2 per tonne. The profits would go to alternative energy firms, green charities and staging concerts to raise more money.
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The idea won praise from the Tyndall Centre for Climate Change Research in Norwich, UK. 鈥淐redits are hopelessly underpriced, and there鈥檚 too much credit being given out,鈥� said a spokesman. 鈥淭o accelerate low-carbon technology, you optimally need credits to cost $100 to $150 per tonne.鈥�
