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Corporations invested in carbon offsets that were ‘likely junk’, analysis says (www.theguardian.com)

submitted 3 months ago by MicroWave@lemmy.world to c/news@lemmy.world

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Analysis of the carbon offset projects used by top corporations including Delta, Gucci and ExxonMobil raises concerns around their emission cuts claims

Some of the world’s most profitable – and most polluting corporations – have invested in carbon offset projects that have fundamental failings and are “probably junk”, suggesting industry claims about greenhouse gas reductions were likely overblown, according to new analysis.

Delta, Gucci, Volkswagen, ExxonMobil, Disney, easyJet, and Nestlé are among the major corporations to have purchased millions of carbon credits from climate friendly projects that are “likely junk” or worthless when it comes to offsetting their greenhouse gas emissions, according to a classification system developed by Corporate Accountability, a non-profit, transnational corporate watchdog

Some of these companies no longer use CO2 offsets amid mounting evidence that carbon trading do not lead to the claimed emissions cuts – and in some cases may even cause environmental and social harms.

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[–] ILikeAllAss@lemmynsfw.com 4 points 3 months ago

In other news, water is wet. More at 5.