carbon credit
Newsletter
Credit: Brigitte Werner/Pixabay
Carbon credit schemes profit from protected Amazon lands
A Washington Post investigation reveals that many carbon credit projects in the Brazilian Amazon illegally use protected public lands and fail to share profits with local communities.
Terrence McCoy, Júlia Ledur and Marina Dias report for The Washington Post.
In short:
- Many carbon credit ventures in the Amazon overlap with publicly protected lands, generating millions in profits illegally.
- Companies buying these credits include Netflix, Delta and Air France, with projects covering an area six times the size of Maryland.
- Brazilian authorities are starting to investigate, uncovering fraud and improper land claims.
Key quote:
“The system is very gameable. And the victim is the planet and all of humanity who suffers because we’re not reducing emissions, but get to pretend we are.”
— Joseph Romm, climate researcher at the University of Pennsylvania
Why this matters:
The misuse of protected lands for carbon credits undermines efforts to combat climate change and defrauds local communities. This corruption in carbon credit markets could hinder global efforts to reduce carbon emissions effectively.
In short:
- Many carbon credit ventures in the Amazon overlap with publicly protected lands, generating millions in profits illegally.
- Companies buying these credits include Netflix, Delta and Air France, with projects covering an area six times the size of Maryland.
- Brazilian authorities are starting to investigate, uncovering fraud and improper land claims.
Key quote:
“The system is very gameable. And the victim is the planet and all of humanity who suffers because we’re not reducing emissions, but get to pretend we are.”
— Joseph Romm, climate researcher at the University of Pennsylvania
Why this matters:
The misuse of protected lands for carbon credits undermines efforts to combat climate change and defrauds local communities. This corruption in carbon credit markets could hinder global efforts to reduce carbon emissions effectively.
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Newsletter
Credit: Pixabay
Carbon-credit market needs reform to survive, study finds
The carbon-credit industry must implement rigorous standards or face extinction, according to a new international review.
In short:
- The carbon-credit market shrank significantly last year due to reports questioning the environmental impact of many schemes.
- Experts from the Climate Crisis Advisory Group suggest that proper reform could generate billions for climate action.
- Recommendations include adopting scientific standards, ensuring financial benefits for local communities and prioritizing carbon-removal projects.
Key quote:
"The voluntary carbon market is very reluctant to take this fully on board. Our report is totally independent of them. It is going to be challenging, but our simple message is that unless you do this, you’re out of business."
— Sir David King, former UK chief scientific adviser and head of the Climate Crisis Advisory Group.
Why this matters:
Carbon credits have been presented as a pivotal tool in the fight against climate change, offering a mechanism for businesses to compensate for their carbon footprint by funding projects that reduce or absorb CO2 emissions. However, the lack of stringent standards has led to inconsistencies and allegations of greenwashing, where companies claim environmental benefits without substantial actions.
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Lancaster nonprofit launches local carbon credit program
A Lancaster-based nonprofit aims to give people and businesses a way to take responsibility for their greenhouse gas emissions while helping their neighbors.
For companies eyeing net-zero carbon emissions, ‘no clue how to get there’
Voluntary carbon markets have become the go-to for companies trying to achieve net-zero carbon, but curbing emissions is still most important, executives said at a recent sustainability conference in Singapore.
vtdigger.org
Glebe Mountain may soon be Vermont’s latest carbon credit project
Glebe Mountain, seated between 1,400 and 2,600 feet in elevation and surrounded by more forest, is an ideal place for wildlife to roam. It could become more important as the climate warms, sending cold-seeking animals like moose to the upper and northward reaches of Vermont's landscape.
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