Tech Giants Rally to Restore Carbon Market Credibility

Sueddeutsche Zeitung

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Those who want to harm the climate less can reduce their own carbon footprint by voluntary compensation payments. But scandals have seriously damaged the image of the industry. Even the providers themselves demand stricter regulation.

digitalmarketreports.com

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Tech Giants Rally to Restore Carbon Market Credibility

In 2023, an investigation uncovered troubling irregularities in the carbon offset market, implicating Verra, a nonprofit organization that certified carbon credits. The investigation revealed that Verra had sold tens of millions of offsets that were essentially worthless, with over 90% of rainforest-related credits demonstrating minimal impact on reducing carbon emissions. These credits, which were supposed to counteract deforestation in locatio…