More Companies Ditch Junk Carbon Offsets but New Buyers Loom
More Companies Ditch Junk Carbon Offsets but New Buyers Loom
Corporate purchasers are moving away from projects rated ineffective by a watchdog even as dealmaking at the UN climate summit offers potential for a comeback.
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Not sure about calling renewable energy projects "junk offsets" on the basis of "the energy is already cheap enough". Forest based offsets are also subject to private ownership, logging rights, and going up in flames. The auditing for those is suspect as well. Both forests and renewables would exist without a carbon offset market, and so perhaps they are all "junk".
They're junk because what's being bought and sold — a transferrable renewable energy credit — doesn't actually result in any additional renewable energy being installed.