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...The push came ahead of a policy decision by SBTi announced last week to allow companies to use carbon credits to offset their pollution....
...Carbon offsets would assist in that effort. Stephan Singer, a senior adviser at the Climate Action Network International, said he had resigned from his position on SBTi’s technical advisory group....
...“In other jurisdictions . . . the price of carbon is $50 [or higher]. The fact that you can buy carbon offsets in the United States for $2 just shows that they are of laughable quality.”...
...Hess has committed to spending at least $750mn on the country’s forest conservation carbon credits over the next decade, to help offset emissions from its fossil fuel production....
...Similar to the concept of carbon offsets, plastic offsets are a financial mechanism that allows companies to balance the plastic waste they collect against the waste they produce, theoretically cancelling...
...The Science Based Targets initiative issued a statement on Friday saying there was “no change” to its standards, after three days earlier stating that companies would be able to use carbon offsets to meet...
...Looking under the bonnet of carbon emissions “Emissions are a vanity metric....
...the offset market....
...The funds could be used to back carbon-cutting sectors and offset potential losses from decreased export competitiveness....
...An investigation by the Guardian newspaper and campaign group Corporate Accountability concluded that 39 of the top 50 offset projects had shortcomings serious enough to undermine their carbon reduction...
...In response to the study findings, British Airways said that carbon offsets and removals had an “important interim role to play” while the airline worked on decarbonising its business....
...With swaths of carbon-capturing biodiversity in the so-called global south, the developing world has the supply, while western governments and corporates seeking offsets to their emissions bring the demand...
...That is the problem with internal carbon prices, too. Robust external carbon pricing would support transition better....
...Carbon credit purchases linked to cuts in the carbon dioxide emitted by burning fossil fuels and deforestation could create “the largest marketplace the world will have ever known”, said US climate envoy...
...Similar emissions-trading schemes, or ETS, operate in the EU, China and California, though with a focus on emissions allowances rather than offsets....
...Its Global Emission Offset contract, used by airlines to offset carbon emissions, was trading at 44 cents in November, down from $3.43 at the start of the year....
...The UN system for avoiding flaws in the controversial issue of carbon credits is now facing a critical test — after a German carbon-offset non-profit organisation secured a clearance label from a Swiss registry...
...On top of that, each hectare might receive 250 tonnes of voluntary carbon credits for captured CO₂, which at roughly £20/tonne would add £5,000....
...(Others, like Microsoft, have promised to become carbon negative in the future, but using carbon removal, not the far cheaper route of avoidance-based offsets.)...
...Public discussion of carbon markets has focused heavily on the $2bn unregulated trade in voluntary offsets, issued to fund forest protection or clean cooking stoves....
...“Carbon pricing should go hand in hand with carbon dividends . . . Without carbon dividends, it is socially and politically unsustainable,” he says....
...buy up carbon offsets generated by tree-planting projects....
...Firstly, organisations selling carbon offsets that are genuinely reducing carbon emissions are at a disadvantage....
...Rather than a commitment to cut the absolute emissions, carbon intensity is an accounting treatment that allows Shell to offset the carbon produced by its oil and gas business against its growing sales of...
...“We are fooling ourselves when we purchase these offsets,” West has said....
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