Carbon offsets have become big business as more companies make promises to protect the climate but can’t meet the goals on their own.
The results raise questions about how some companies use these offsets and cast doubt on how effective voluntary carbon markets – at least in their current state – are in assisting a global transition to net-zero-emissions. In contrast, high-emissions industries, such as oil and gas, utilities or transportation, used negligible amounts of offsets compared to their heavy carbon footprints.
A more pernicious explanation for the growth in voluntary offsets is that offsets enable “greenwashing.” In this view, companies use offsets to cheaply refurbish their image to naive stakeholders who are not well informed about the quality of offsets. Agencies rate offset projects on how likely they are to meet their climate claims, among other indicators of the trustworthiness of offsets.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Companies are buying up cheap carbon offsets − data suggest it may be more about greenwashing than helping the climateA deep dive into 866 public companies and 1,413 carbon projects reveals some twists in who relies on cheap offsets and who chooses to cut their own emissions instead.
Source: _TCglobal - 🏆 4. / 83 Read more »
How donations to political parties from gambling companies linked to horse racing have surgedA total of $2.7m has been donated to the major parties in the past decade from eight companies
Source: GuardianAus - 🏆 1. / 98 Read more »
Australian companies furious after advanced defence technology project 'cancelled' following months of investmentA highly vaunted push to 'rapidly' develop disruptive military technologies into the Australian Defence Force is facing uncertainty, with local companies saying an initial project has been 'cancelled'.
Source: abcnews - 🏆 5. / 83 Read more »
Treasurer flags changes to tax credits designed to promote innovation after use by pokies companiesTreasurer Jim Chalmers says pokies companies' use of tax credits designed to promote innovation is 'problematic'.
Source: abcnews - 🏆 5. / 83 Read more »
Renewable energy companies eyeing off abandoned mines in QueenslandThey can be an eyesore, but end-of-life mines in the outback prove to be an attractive prospect in an unlikely relationship. So how are renewable energy companies repurposing mine shafts to help decarbonise the region?
Source: abcnews - 🏆 5. / 83 Read more »