Revealed: more than 90% of rainforest carbon offsets by biggest certifier are worthless, analysis shows

A major investigation reveals that a vast majority of rainforest carbon offsets approved by Verra, the leading certifier in the voluntary market, are likely "phantom credits" with no genuine climate benefit. This conclusion is based on scientific analysis showing that projected deforestation threats were significantly overstated, rendering most credits ineffective for reducing atmospheric carbon. This revelation is critical to understanding greenwashing because major corporations, including Shell and Gucci, rely on these invalid credits to market their products and services as "carbon neutral." By purchasing these worthless offsets, companies create a misleading narrative of sustainability, allowing consumers to believe their consumption habits have a minimal environmental impact when they may actually be exacerbating global heating through unchecked emissions. The findings suggest that the current carbon offset system is fundamentally flawed and unreliable for meeting net-zero targets. The discrepancy between certified claims and actual ecological outcomes highlights a systemic failure where financial incentives do not align with environmental reality, urging urgent reform to restore credibility to corporate climate strategies and protect genuine conservation efforts.

Source: theguardian.com
Published on 2023-01-19

Revealed: more than 90% of rainforest carbon offsets by biggest certifier are worthless, analysis shows

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