In order to make themselves look good so they'll be allowed to continue with Business As Usual, huge corporations try to project a public image of being "climate aware" and "green" and on track for "net zero" — but it's just a phony pose.
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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, ExxonMobil, Disney, 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.
The fossil fuel industry is by far the largest investor in the world’s most popular CO₂ offsetting s
... Show more...In order to make themselves look good so they'll be allowed to continue with Business As Usual, huge corporations try to project a public image of being "climate aware" and "green" and on track for "net zero" — but it's just a phony pose.
_________________________
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, ExxonMobil, Disney, 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.
The fossil fuel industry is by far the largest investor in the world’s most popular CO₂ offsetting schemes. At least 43% of the CO₂ credits purchased by the oil and gas majors are for projects that have at least one fundamental flaw and are “probably junk,” according to the analysis.
The transport industry, which accounts for about a fifth of all global planet-warming emissions, has also relied heavily on carbon offsetting projects to meet climate goals. Just over 42% of the total credits purchased by airlines and 38% purchased by automakers are likely worthless at reducing emissions, the analysis found.
“These findings add to the mounting evidence that peels back the greenwashed facade of the voluntary carbon market and lays bare the ways it dangerously distracts from the real, lasting action the world’s largest corporations and polluters need to be taking,” said Rachel Rose Jackson, Corporate Accountability’s director of research.
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FULL STORY -- https://www.theguardian.com/environment/article/2024/may/30/corporate-carbon-offsets-credits
#Science #Environment #Climate #ClimateChange #Capitalism #BusinessAsUsual #Greenwashing
Analysis of the carbon offset projects used by top corporations including Delta, Gucci and ExxonMobil raises concerns around their emission cuts claims
Nina Lakhani (The Guardian)
