LONDON, Aug 30 — Only a small fraction of private sector forest-based carbon credits available for purchase to offset greenhouse gas emissions actually help prevent...
LONDON, Aug 30 — Only a small fraction of private sector forest-based carbon credits available for purchase to offset greenhouse gas emissions actually help prevent deforestation, according to new research.
As climate change accelerates and pressure mounts on corporations and countries to slash emissions, the market for carbon credits has exploded. Earlier this year Zimbabwe sent a shudder through the private forest-based offsets market by announcing it would appropriate half of all the revenue generated from offsets on its land, exposing yet another vulnerability.
Over-estimations of forest preservation have allowed the number of private sector carbon credits on the market to keep rising, which suppresses prices. To assess their performance, the researchers identified parallel sites within each region with similar conditions but without forest protection schemes.
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