The growing signs of trouble for global carbon markets | Corporations are backing away from one of their favorite climate remedies as greenwashing concerns steadily mount.
The growing signs of trouble for global carbon markets | Corporations are backing away from one of their favorite climate remedies as greenwashing concerns steadily mount.
Corporations are backing away from one of their favorite climate remedies as greenwashing concerns steadily mount.
The key thing is that most of the offsets sold on these markets were fraudulent. This has been known for years, but the realization that a particular project didn't result in any CO2 removal was a big deal for the markets:
But a bombshell New Yorker article earlier this month asserted that millions of carbon offsets generated by Kariba, a giant project that earned nearly $100 million for purportedly preventing deforestation in Zimbabwe, didn’t actually prevent deforestation and preserve the carbon in the trees and soil.