U2 gets behind carbon trading, raises money for geothermal

Known for its international relief efforts, rock band U2 is now raising funds in Turkey to pay for the country’s Dora-1 geothermal plant. It is also selling carbon offset credits for $1.89 a pop.

The credits will go toward purchasing clean power to neutralize the 127 kilograms of greenhouse gases each of the band’s fans, on average, generates to see the band play. Incidentally, the Dora-1 project could save as many as 30,000 tons of greenhouse gases a year.

A modest facility by most standards, the geothermal plant is designed to generate 7.9 megawatts of power. In Turkey, however, this represents more than one-fifth of the national geothermal capacity. And the country itself contains one-eighth of the world’s geothermal capacity — about 4,500 megawatts worth. Now with the new plant, completed last summer, Turkey is poised to become a major regional player in the energy business.

The credits U2 is selling are being brokered through Offset Options. The proceeds are invested in carbon emission reduction projects around the world, including Dora-1. When a U2 fan pays the optional $1.89 on top of the usual ticket price, it goes directly to one of these efforts. The goal is to raise as much as $450,000 for the geothermal project.

The band’s campaign demonstrates how carbon trading is still a hot concept. Even though the U.S. Congress has been lukewarm on the idea in legislative proposals, it has taken root elsewhere. There’s already a healthy and active marketplace for carbon offsets in Turkey, Australia, Spain and Ireland. U2′s influence could help popularize the same thing in the U.S.

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