94% of Forest-Based Carbon Offsets Certified By Leading Global Provider Are ‘Phantom Credits,’ Major Investigation Finds - EcoWatch
This investigation reveals that the vast majority of rainforest carbon credits certified by Verra are “phantom credits,” effectively serving as a sophisticated form of greenwashing. By analyzing satellite data and ground-level evidence, researchers determined that most certified projects did not prevent deforestation that would have otherwise occurred. Consequently, the credits issued were largely imaginary, failing to remove or prevent carbon dioxide emissions as claimed, which undermines the foundational integrity of the voluntary carbon market. The implications for global corporations and consumers are severe, as major brands have relied on these invalidated credits to market themselves as environmentally responsible. This discrepancy creates a false sense of security, allowing companies to claim carbon neutrality while their actual emissions remain unmitigated. With Verra certifying the bulk of global carbon offsets, this systemic failure calls into question the reliability of industry standards and exposes the gap between marketing narratives and ecological reality. Relevance to greenwashing is critical here, as the report exposes how companies leverage complex certification mechanisms to deceive the public. The investigation further highlights that these fraudulent schemes can intersect with human rights abuses, including the forced eviction of local communities. Ultimately, the findings suggest that the current carbon offset model may be less about climate mitigation and more about enabling corporations to continue polluting under the guise of environmental stewardship.
Source: ecowatch.comPublished on 2023-01-23