Confirmed: new evidence shows tens of millions of carbon credits worthless

A new study by Professor Andrew Macintosh confirms that millions of Australian Carbon Credit Units issued for rural tree-regeneration projects are worthless, effectively disproving government assurances that the system was fundamentally sound. The research, utilizing detailed satellite data, reveals that the vast majority of these credits lack any basis in actual carbon sequestration, challenging the integrity of the nation’s primary market-based climate mechanism. The core issue lies with Human-Induced Regeneration projects, which claim to generate credits by allowing vegetation to recover naturally rather than through new planting. The data shows that most credited areas had never been significantly cleared, meaning no additional carbon absorption occurred beyond what would have happened anyway. In many cases, vegetation cover actually declined or remained unchanged, yet credits were issued as if substantial environmental benefits were achieved. This failure is a stark example of greenwashing, where the carbon credit system serves as a facade for climate inaction. By allowing heavy polluters to offset emissions using credits with no real-world impact, the scheme funnels money to intermediaries while masking the lack of genuine abatement. This undermines global climate goals by creating an illusion of progress, allowing industries to continue polluting under the false pretense of having compensated for their environmental footprint.

Source: crikey.com.au
Published on 2023-06-23

Beyond greenwashing: aligning your organization with UN report guidelines for sustainable future »

Confirmed: new evidence shows tens of millions of carbon credits worthless

Related news