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At talks on cutting plastics, plastics credits are on the table. What are they?
Two groups say plastic credits often amount to corporate greenwashing. Report cites “serious flaws” in financing, transparency and basic auditing. Verra, the world's leading certifier of carbon offsets, says credits can be a tool.
At talks on cutting plastics pollution, plastic credits are on the table. What are they? Two groups say plastic credits often amount to corporate greenwashing. Report cites "serious flaws" in financing, transparency and basic auditing. Verra says credits can be a tool for mobilizing money needed to tackle plastic pollution.
At talks on cutting plastics pollution, plastics... Two groups say credits often amount to corporate greenwashing. Their report cited "serious flaws" in financing, transparency. Verra says there are several benefits of plastic credits.
Rainforest carbon credit schemes misleading and ineffective, finds report New research by UC Berkeley Carbon Trading Project looking into rainforest carbon credits certified by Verra. Report found that the system is not fit for purpose. It generates highly inflated environmental impacts and some projects fail to provide safeguards for vulnerable forest communities.
Researchers cast doubt on the credibility of several carbon offset programs Detailed analysis was conducted on eighteen projects aiming to mitigate deforestation-linked greenhouse gas emissions. All the projects studied are overseen by the NGO Verra, which dominates the sector. The market for voluntary carbon offsets linked to forest management weighed in at $1.3 billion (€1.2 billion) in 2021.
Nvidia Chief Flags Dangers To US Chips Act, Disney, Shell, Gucci Allegedly Used Worthless Carbon Credits, Microsoft's Daring Attempt to Outshine Google In Search Game: Today's Top Stories Kohl's Corp (NYSE: KSS) reported a first-quarter FY23 sales decline of 4% year-on-year to $3.57 billion. CEO of Verra, the world's largest carbon credit certifier, has resigned following allegations that the organization approved millions of worthless offsets. PacWest Bancorp has reportedly sold its Civic Financial Services unit.
CEO of biggest carbon credit provider to resign after claims offsets worthless David Antonioli will step down as CEO of Verra on 16 June. Verra is the world's leading carbon credit certifier. It has certified more than 1bn credits through its verified carbon standard.
Bankers strike back on ESG Florida Gov. Ron DeSantis wants to pull state money from financial institutions engaging in sustainable investing. Bills to prohibit state support of ESG investing are sputtering out in deep-red states like Mississippi, North Dakota and Montana. Verra has named Judith Simon its president.
The Guardian view on carbon offsetting: a model with dangerous flaws | Editorial 90% of the rainforest credits analysed are unlikely to represent genuine carbon reductions. Verra, the Washington-based non-profit at the centre of the story, is the world’s leading carbon standard.
The Carbon Credit Market Confuses The Corporate World Investigative journalists say many carbon credits used to offset corporate emissions lack merit. Verra approves three of every four — voluntary — rainforest carbon projects. Report signals the corporate world to re-evaluate what kind of carbon credits it purchases.
Australian councils told to cut emissions rather than spend millions on overseas carbon offsets A Guardian investigation found 90% of rainforest credits issued by one leading company were likely worthless. Fifteen local governments in Australia, including those in central Sydney, Melbourne, Brisbane and Adelaide, trade offsets through Verra’s registry platform. The revelations have energised critics of public entities for using offsets rather than reducing their own emissions.
Qantas, Origin and other Australian companies urged to check effectiveness of overseas rainforest carbon credits Some of Australia’s best known companies are being urged to check the effectiveness of overseas rainforest carbon credits used to underpin carbon neutral claims. This week the Guardian revealed more than 90% of the rainforest credits issued through a leading global verification organisation, Verra, were likely worthless. The investigation raises questions about claims of carbon neutrality made through the federal government's Climate Active program.
Most Rainforest Carbon Offsets 'Worthless': Report A company can buy credits to offset its emissions. Buying carbon credits by financing projects to protect rainforests has become a popular way for companies to claim they are carbon neutral. Some 90 percent of credits offered by the world's leading provider, Verra, are likely "phantom credits," says study.
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