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Corporations Invested in Carbon Offsets That Were 'Likely Junk', Analysis Says
Some of the world's most profitable -- and most polluting corporations -- have invested in carbon offset projects that have fundamental failings and are "probably junk," suggesting industry claims about greenhouse gas reductions were likely overblown, according to new analysis. From a report: Delta,...
Some of the world's most profitable -- and most polluting corporations -- have invested in carbon offset projects that have fundamental failings and are "probably junk," suggesting industry claims about greenhouse gas reductions were likely overblown, according to new analysis. Some of these companies no longer use CO2 offsets amid mounting evidence that carbon trading do not lead to the claimed emissions cuts -- and in some cases may even cause environmental and social harms. Yet, for 33 of the top 50 corporate buyers, more than a third of their entire offsets portfolio is "likely junk" -- suggesting at least some claims about carbon neutrality and emission reductions have been exaggerated according to the analysis.
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