Carbon offsets
Chapman, A., and Masie, D. (2023 Aug 3). Are carbon offsets all they’re cracked up to be? We tracked one from Kenya to England to find out. Vox.
Carbon offsets, purchased through an unregulated, growing market, offer a way for individuals and corporations to neutralize their emissions by funding carbon-reduction initiatives including low-carbon stoves, forest conservation, and community solar energy. Projects funded by offsets must meet certain criteria and be verified by third parties, but some of these third parties, specifically Verra and UN-REDD+, were found to have made claims about conservation impacts that were proven untrue. Supporters argue that carbon offsets can be a useful tool for combatting climate change when transparently managed and strictly regulated. Others acknowledge the flaws but see them as better than doing nothing.
Are carbon offsets a sham or can we make them work?
Carbon offsets seem like a sham because the market is largely unregulated, and organizations have previously made false and unverifiable claims about conservation impacts. However, some projects funded by carbon credits such as community solar and efficient cooking stoves, can have real environmental and social benefits especially in places that would not otherwise receive support. Policy interventions may help impose stricter rules on carbon offset projects and require better reporting and transparency. Imposing negative consequences for credits tied to questionable claims could eliminate those sellers and encourage more effective offset projects.