Revealed: more than 90% of rainforest carbon offsets by biggest provider are worthless, analysis shows
Image source: Unsplash
The forest carbon offsets approved by the world’s leading provider and used by Disney, Shell, Gucci and other big corporations are largely worthless and could make global heating worse, according to a new investigation.
The research into Verra, the world’s leading carbon standard for the rapidly growing $2bn (£1.6bn) voluntary offsets market, has found that, based on analysis of a significant percentage of the projects, more than 90% of their rainforest offset credits – among the most commonly used by companies – are likely to be “phantom credits” and do not represent genuine carbon reductions.
Other News
-
EU to ban ‘climate neutral’ claims by 2026
Source: Financial Times
The EU will ban sweeping environmental claims such as “climate neutral” or “eco” by 2026 unless companies can prove the claim is accurate.…
Read On Financial Times
-
Nowhere left to hide for climate laggards
The United Nation’s Global Stocktake report came out recently, and it showed that the urgency of action keeps rising. We have only a few years…
Read Now —>
-
FIFA made false claims about carbon neutrality at Qatar World Cup – regulator
Source: Reuters
Soccer's world governing body FIFA made false and misleading statements about the reduced environmental impact of the 2022 World Cup in Qatar, a Swiss regulator…
Read On Reuters