Papua New Guinea will “immediately” lift a ban on forest carbon credit schemes, the Pacific nation’s climate minister told AFP on Thursday, opening up its vast wilderness to offset global emissions.…Continue readingPapua New Guinea lifts ban on forest carbon credits
Tag: carbon offsets
The natural process of locking away carbon dioxide (CO2) appears to be in decline—and climate change will accelerate as a result, a University of Strathclyde study warns. Researchers found that the…Continue readingClimate change ‘will accelerate’ owing to decline in natural carbon storage, says study
Shell dominated the $1.4bn global market for carbon credits last year as oil and gas companies scaled back their spending on clean energy and relied more heavily on offsets to reach…Continue readingShell dominates carbon credit market as clean energy spending scaled back
Microsoft will pay to restore parts of Brazil’s Amazon and Atlantic forests in exchange for hundreds of millions of dollars’ worth of carbon credits. The US company told the Financial Times…Continue readingMicrosoft secures deal to restore Amazon rainforest and offset AI emissions
Indonesia opened its carbon exchange to international buyers on Monday, aiming to raise funds to help meet ambitious domestic climate goals. Indonesia is one of the world’s biggest polluters and is…Continue readingIndonesia launches international carbon exchange
Relying on natural carbon sinks such as forests and oceans to offset continued fossil fuel emissions will not stop global heating, the scientists who developed net zero have warned. Each year,…Continue readingCountries could use nature to ‘cheat’ on net zero targets, scientists warn
One of the largest types of carbon offset projects the Australian government is using to meet climate change targets and reduce carbon in the atmosphere is failing to do so, new…Continue reading‘Widespread noncompliance and poor performance’ in world’s largest nature-based carbon removal projects
Under a federal government scheme, people and businesses can undertake projects that reduce greenhouse gas emissions or store carbon, in exchange for financial rewards known as carbon credits. The government has…Continue readingIndustry push to earn carbon credits from Australia’s native forests would be a blow for nature and the climate
A world where global mean surface temperature has increased 3°C will be characterized by widespread and intense heat stress, extreme weather events, ruptured and unproductive marine and terrestrial ecosystems, broken food…Continue readingEarth at risk: An urgent call to end the age of destruction and forge a just & sustainable future
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…Continue readingCorporations invested in carbon offsets that were ‘likely junk’, analysis says
In announcing Australia’s support for fossil gas all the way to 2050 and beyond, Prime Minister Anthony Albanese has pushed his government’s commitment to net zero even further out of reach.…Continue readingSleight of hand: Australia’s Net Zero target is being lost in accounting tricks, offsets and more gas
The seeds of New Zealand’s recent forestry boom were planted in 2019, when the country’s emissions trading scheme required companies to use only domestic measures to compensate for CO2. In practice,…Continue readingMillions more trees isn’t the climate fix New Zealand thought
A Shell-operated plant reported millions of carbon credits tied to CO₂ removal that never took place but were used by Canada’s largest oil sands companies, raising new doubts about a technology…Continue readingShell plant reported millions of ‘phantom’ carbon credits
Mubadala Capital, a fully owned asset management arm of UAE’s sovereign wealth fund Mubadala Investment, is reportedly planning to invest approximately $13.5bn in a biofuels project in Brazil over the next…Continue readingUAE’s Mubadala Capital likely to invest $13.5bn in biofuels project in Brazil
:format(webp)/cdn.vox-cdn.com/uploads/chorus_asset/file/25436099/1194051845.jpg "Microsoft ramps up plans to capture carbon from burning wood")
Microsoft is doubling down on a controversial plan to capture carbon dioxide emissions from wood-burning power plants. It announced a contract with energy company Stockholm Exergi to capture 3.33 million metric…Continue readingMicrosoft ramps up plans to capture carbon from burning wood
Australia’s main carbon offsets method is a failure on a global scale and doing little if anything to help address the climate crisis. Research by 11 academics found the most popular…Continue readingAustralia’s carbon credits system a failure on global scale
The COP28 climate talks have been flooded with announcements hyping controversial carbon credits before rules for them have been hammered out, with environmental groups fearing “greenwashing” on a massive scale. The…Continue readingControversial carbon credits flood COP28, yet still no rules
Bill Gates is emphatic: “I don’t plant trees,” he declared recently, wading into a debate about whether mass tree planting is really much use in fighting climate change. The billionaire philanthropist…Continue readingIs planting trees to combat climate change ‘complete nonsense’?
The vast swaths of pine, spruce and larch forest that blanket much of Canada have been prized for generations. Not only do they provide a home to hundreds of species –…Continue readingWildfires turn Canada’s vast forests from carbon sink into super-emitter
Meeting the climate goals means we should not only significantly reduce greenhouse gas emissions but also sequester more CO2 in the soil. Research has taught us how to store CO2 in…Continue readingExperts question whether carbon dioxide storage in farming soils helps the climate
A prominent sheikh in the oil-rich Gulf state hosting this year’s UN climate negotiations, COP28, is heading a new rush to capture and sell carbon credits by managing tens of millions…Continue readingIn New Scramble for Africa, an Arab Sheikh Is Taking the Lead
Many credits in the voluntary market going unused, with study finding some offsetting could make global heating worse Carbon credit speculators could lose billions as scientific evidence shows many offsets they…Continue readingCarbon credit speculators could lose billions as offsets deemed ‘worthless’
Apocalypse investors are pushing fake climate solutions on us that are making climate change worse.Continue readingWe are ‘greening’ ourselves to extinction
Investigation into Verra carbon standard finds most are ‘phantom credits’ and may worsen global heating.Continue readingRevealed: more than 90% of rainforest carbon offsets by biggest provider are worthless, analysis shows
Researchers found that unlogged forested areas are generally carbon neutral, but that moderately and heavily logged tropical forest areas are a carbon source. They estimate an average carbon source of 1.75…Continue readingForests recovering from logging act as a source of carbon
Conservation groups warn not enough is being done to protect ecosystems as state government data shows more than 400,000ha of land was cleared in 2019-20.Continue readingCalls for tougher regulations as Queensland, Australia records highest rate of land clearing in country
Claim by academics, including former integrity chair of Australia’s carbon credit scheme, raises further doubts about system. ‘The wild west approach needs to end,’ says climate scientist Bill Hare, amid warning…Continue readingAustralia’s carbon offset scheme fraudulent
Everybody likes trees. There is no anti-tree lobby. A global push to go beyond conservation of existing forests and start creating new ones goes back to 2011, when many of the…Continue readingPhantom Forests: Why Ambitious Tree Planting Projects Are Failing
Forest fires supercharged by climate change are burning twice as much global tree cover as 20 years ago. The equivalent of 16 football pitches are now lost every minute. Wildfires have…Continue readingClimate change driving unprecedented forest fire loss
Wildfires have depleted almost all of the carbon credits set aside in reserve by forestry projects in the US to protect against the risk of trees being damaged over 100 years,…Continue readingWildfires destroy almost all forest carbon offsets in 100-year reserve