Revealed: more than 90% of rainforest carbon offsets by biggest provider are worthless, analysis shows
Patrick Greenfield, The Guardian, 18 Jan 2023 14.00
The research into Verra, the world’s leading carbon standard for the rapidly growing $2bn (£1.6bn) voluntary offsets market, has found that, based on analysis of a significant percentage of the projects, more than 90% of their rainforest offset credits – among the most commonly used by companies – are likely to be “phantom credits” and do not represent genuine carbon reductions.