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https://theconversation.com/companies-are-buying-up-cheap-carbon-offsets-data-suggest-its-more-about-greenwashing-than-helping-the-climate-238973>
"Carbon offsets have become big business as more companies make promises to
protect the climate but can’t meet the goals on their own.
When a company buys carbon offsets, it pays a project elsewhere to reduce
greenhouse gas emissions on its behalf – by planting trees, for example, or
generating renewable energy. The idea is that reducing greenhouse gas emissions
anywhere pays off for the global climate.
But not all offsets have the same value. There is growing skepticism about many
of the offsets sold on voluntary carbon markets. In contrast to compliance
markets, where companies buy and sell a limited number of allowances that are
issued by regulators, these voluntary carbon markets have few rules that can be
enforced consistently. Investigations have found that many voluntary offset
projects, forest management projects in particular, have done little to benefit
the climate despite their claims.
I specialize in sustainable finance and corporate governance. My colleagues and
I recently conducted the first systematic, evidence-based look at the global
landscape of voluntary carbon offsets used by hundreds of large, publicly
listed firms around the world.
The results raise questions about how some companies use these offsets and cast
doubt on how effective voluntary carbon markets – at least in their current
state – are in assisting a global transition to net-zero-emissions."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
