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Companies are washing away their image using “bogus” carbon credits – is it up to speed with that?


Essays by Eric Worrall

Carbon Credits – the only “marketplace” where false claims benefit both parties in a transaction.

Garbage carbon offset is what creates
These Big Companies are ‘Carbon Neutral’

Dozens of the biggest global companies — from banks to industry heavyweights — have made bold climate claims that are backed up by cheap renewable energy offsets that don’t fight back. global warming again

Via Akshat Rathi, white natasha and Demetrios Pogkasgreen
November 21, 2022

For more than a decade, Credit Suisse Group AG has claimed to be “carbon neutral” in its operations. Every gleaming office tower, every executive flight – all the emissions directly generated by a global banking giant are supposed to be counterbalanced. A closer look at the Swiss bank’s sustainability reports reveals a different story: its far-reaching claims are based on purchasing low-quality carbon offsets that experts consider futile.

According to Julio Friedmann, chief scientist at consulting firm Carbon Direct and one of six researchers who reviewed the data, most of these renewable energy offset purchases are unreliable. “I consider these low-quality credits that do not avoid or reduce greenhouse gas emissions,” he said.

Buying credits tied to supporting wind or solar projects sounds good for the climate. But experts consider these offsets to be largely bogus. The point is timing: many renewable offsets come in just as solar and wind power have become the cheapest sources of energy in most countries. Offsetting small amounts as a way to support the economics of renewable energy will not yield any real benefits if it is already cheaper than building coal or gas power plants. new.

Read more: https://www.bloomberg.com/graphics/2022-carbon-offsets-renewable-energy/?leadSource=uverify%20wall

Greens could also waive carbon credits and carbon markets. How can you fix a market in which both buyers and sellers seem interested in hiding flaws?

Even the war on drugs isn’t that hard, I mean ultimately drug dealers have to deliver the product. According to Bloomberg, all carbon credit providers must offer a fluid story and a competitive price.

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