Carbon Credit Junk

An investigation carried out by the British newspaper The Guardian with researchers from the non-profit transnational observatory Corporate Accountability, based in the United States, analyzed the 50 primary emissions offsetting projects that sell carbon credits on the global market and concluded that the majority of credits sold could be classified as “junk” as they do not guarantee additional and permanent cuts in greenhouse gases. Carbon markets are a colossal fraud that gives Big Polluters a license to pollute more and more, that is, to continue their business as if there was no need to reduce emissions.

The rating system assessed whether each offset project could lead to the promised additional and permanent emissions cuts and promote real environmental benefits and forest conservation. The conclusion was an obvious no. Among the experiences analyzed, the report cites the Teles Pires dam in the Amazon, noting that in addition to not leading to new or additional reductions in emissions, this and other large dams have been associated with land disputes, displacement, increased poverty, and environmental damage.

We are already feeling the climate collapse firsthand. Despite scientific warnings about the urgency of phasing out fossil fuels, we still waste vast amounts of time and resources on illusory schemes based on technologies that change nothing. We are missing our last opportunity to avoid a total climate catastrophe.

Read more:
Revealed: top carbon offset projects may not cut planet-heating emissions – The Guardian, 19/11/23:

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