Carbon offsets have faced increasing criticism in recent years from academic research showing that most do not represent real emissions reductions. Studies estimate only 12% of offset projects achieve reductions. Critics argue offsets allow polluters to continue business as usual by buying cheap credits instead of reducing their own emissions. Climate & Capitalism discusses how these issues have been identified for over a decade, with early analyses finding a third to two-thirds of Clean Development Mechanism offsets did not cut emissions. The article notes parallels between worthless offsets and the subprime mortgage crisis. Experts have long argued against tree planting offsets due to issues like permanence, measurability and the delay between planting and carbon sequestration.

One early proponent admits offsets were never meant as a long-term solution, but to start a conversation on carbon that is now overdue to move forward.

Archive.today link to climateandcapitalism.com

This comment was generated by a bot. Send comments and complaints via private message.