Green Transition at Risk as Carbon Offset Schemes Falter

Companies worldwide are increasingly opting to use carbon credit schemes to offset their emissions, as governments urge them to decarbonise operations. While this might seem the obvious solution for hard-to-abate industries, many are failing to monitor and assess the schemes to ensure that they are working as expected and offsetting the necessary quantity of carbon to decarbonise operations.

However, the researchers found that many project developers were generating credits even when no changes were made. The carbon offset market is largely unregulated, meaning that standards compliance is overseen by a few independent groups. The researchers assessed the approaches used by some of the world’s biggest registries –Verra’s Verified Carbon Standard, Winrock International’s American Carbon Registry and the Climate Action Reserve, to provide carbon credits.

Source: News Formal (newsformal.com)

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