The use of carbon offsets to achieve climate goals has been slated as mostly “ineffective” by the world’s leading judge of corporate climate targets, the Financial Times reported.
Many big companies, struggling to make progress cutting their emissions, have turned to offsets as a solution, the story went on, but a report from the Science Based Targets initiative (SBTi) says the tactic could have “potential unintended effects” by hindering the shift to net zero and reducing climate finance.
The SBTi has itself been the subject of criticism after it faced a backlash from staff and climate experts following a push to allow the wider use of carbon offsets, generated by projects such as tree planting, which impacted its credibility.
At present, the SBTi allows the use of offsets for the “last mile” or just 10% of emissions in company plans, with the remaining 90% expected to come from direct cuts in pollution from their own operations.
Read the full story: The Financial Times
- By Sean O’Meara
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