Carbon offsets divert money away from climate action in the Global South
Carbon offsets divert money away from climate action in the Global South
There is growing evidence that very little of the money made in the carbon offsetting industry ends up with the communities. Read more.
one of the largest offset projects in Kariba, Zimbabwe, suggested that the amount reaching communities was 6%, at most.
and by "communities", they mean the "forest owner". Perhaps that is more capital to buy harvesting machinery. But in general this is an extra monetization/financialization scheme that doesn't affect actual carbon reduction. This is not money that goes towards transitioning energy systems and reducing emissions.
A carbon tax and dividend scheme can properly compensate maintained forests that don't burn. Instead of financializing corporate PR schemes.