Analysis of the carbon offset projects used by top corporations including Delta, Gucci and ExxonMobil raises concerns around their emission cuts claims

Analysis of the carbon offset projects used by top corporations including Delta, Gucci and ExxonMobil raises concerns around their emission cuts claims

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 gas reductions were likely overblown, according to new analysis.

Delta, Gucci, Volkswagen, ExxonMobil, Disney, easyJet, and Nestlé are among the major corporations to have purchased millions of carbon credits from climate friendly projects that are “likely junk” or worthless when it comes to offsetting their greenhouse gas emissions, according to a classification system developed by Corporate Accountability, a non-profit, transnational corporate watchdog

Some of these companies no longer use CO2 offsets amid mounting evidence that carbon trading do not lead to the claimed emissions cuts – and in some cases may even cause environmental and social harms.

  • ThrowawayOnLemmy@lemmy.world
    38·
    5 months ago

    We knew that when they were buying them. Carbon offsets are just another way to kick the can down the road past the point of no return.

    • cogman@lemmy.world
      30·
      5 months ago

      Worse, they were pure PR. A way for a company to say “look how green we are, we are offsetting all our emissions!”. Which, of course, they did by finding a shady company that “offset” the most for the least amount of money.

      I wonder how many times the same tree was paid for by companies to “offset” their CO2.

      It doesn’t even kick any can down the road. It’s throwing cash at a tree while rolling coal.

      • HubertManne@kbin.social
        4·
        5 months ago

        company. the biggest buyer of credits was the us military. look how green we are by our reports /s.

          • HubertManne@kbin.social
            1·
            5 months ago

            ill add the /s for the last line. though it might be complicated since the military being the biggest user is not the sarcasm but the followup line is.

            • AbidanYre@lemmy.worldEnglish
              2·
              5 months ago

              When I was in there was always talk about how if you added up all the “saved $XX million by doing Y” it would come out to multiple times the military’s budget. I figured this was the same principle.