A joint investigation by the Guardian and non-profit climate watchdog Corporate Accountability has found that the majority of environmental projects used for offsetting greenhouse gas emissions in the voluntary carbon market (VCM) have “fundamental failings” and cannot be relied upon to tackle global warming. The analysis focused on the top 50 emission offset projects, which included popular schemes such as reforestation, hydroelectric dams, and solar and wind farms. Of these projects, 78% were deemed “likely junk or worthless”, with an additional 16% labeled as “problematic”. The investigation also revealed that $1.16bn worth of carbon credits have been traded from these flawed projects. Critics argue that the VCM is exacerbating the climate emergency and that false solutions must be abandoned. The VCM has faced previous criticism this year, with investigations exposing shortcomings in rainforest offsets and carbon offsets used by Chevron.
https://www.power-technology.com/news/report-majority-carbon-offsets-junk-or-useless/