Over 90% of the rainforest carbon offsets sold by the nonprofit organization that sets the world's leading sustainability standard "are largely worthless and could make global heating worse," an investigation published Wednesday by three media outlets revealed.
For nine months, The Guardian, Die Zeit, and SourceMaterial analyzed scientific studies of Verra, "the world's leading carbon standard" in a voluntary global offset market worth $2 billion annually and growing. Verra's customers include major multinational corporations, and the analysis' findings cast doubts over the carbon offset credits the companies buy in order to label their products as "carbon neutral" or assure customers that they can consume their products or services without worsening the climate emergency.
"The implications of this analysis are huge," said Barbara Haya, head of the Carbon Trading Project at the University of California, Berkeley. "Companies are making false claims and then they're convincing customers that they can fly guilt-free or buy carbon-neutral products when they aren't in any way carbon-neutral."
\u201cNEW: Forest carbon offsets approved by the world\u2019s leading provider and used by Disney, Shell, Gucci and others are largely worthless and could make global heating worse, a new investigation finds.\n\nWith @hannahknuth , @herrfischer & @lukewbarratt \n\n\ud83d\udc47\ud83d\udc47\n\nhttps://t.co/KpKlXqzy0K\u201d — Patrick Greenfield (@Patrick Greenfield) 1674050676
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