Research shows that more than 90% of rainforest carbon offsets cleared by the largest certification company are worthless
An investigation into the Verra carbon standard has found that the vast majority of carbon credits are phoney and may actually worsen the situation regarding global warming.
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According to a recent journalistic investigation, forest carbon emission offsets approved by the world's leading certification company and used by Disney, Shell, Gucci and other large multinational corporations are largely worthless and may worsen the situation with global warming.
A study into Verra, which has developed the world's leading carbon offset standard for the rapidly growing $2 billion voluntary offset market, based on an analysis of a significant portion of projects, found that more than 90% of the rainforest offset carbon credits used most frequently by companies are likely phoney credits and do not represent genuine carbon reductions.
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The nine-month investigation was carried out by the Guardian newspaper, the German weekly Die Zeit and the non-profit investigative journalism organisation SourceMaterial. It is based on an analysis of scientific studies of Verra rainforest carbon offset schemes.
It also draws on dozens of interviews and on-the-ground reporting with scientists, industry representatives and indigenous communities. The findings, which Verra strongly disputes, could raise serious questions for companies that rely on offsets as part of their net zero strategies.
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