Greenpeace calls for end to carbon offsets - Reuters

Carbon offsets are allowing the world's biggest polluters to forge ahead with business plans that are threatening global climate goals, ... RegisternowforFREEunlimitedaccesstoReuters.comRegisterOct6(Reuters)-Carbonoffsetsareallowingtheworld'sbiggestpolluterstoforgeaheadwithbusinessplansthatarethreateningglobalclimategoals,theheadofGreenpeaceInternationalsaidinaninterview.Themodelallowspollutingcompaniestooffsettheiremissionsbybuyingcreditsfromprojectsthatreduceoravoidthereleaseofclimate-warmingCO2elsewhere,suchasmasstreeplantingsorsolarpowerfarms-whichcouldbeworth$50billionby2030accordingtoataskforcecreatedtoscaleupthemarket.readmoreEnvironmentaladvocatessuchasGreenpeacesaythisisallowingbigemitterslikeoilmajorstoputoffcuttingtheirownemissionsandavoiddivestingfromhydrocarbons,aprimarysourceofgreenhousegasesthatcauseglobalwarming.readmoreRegisternowforFREEunlimitedaccesstoReuters.comRegister"There'snotimeforoffsets.Weareinaclimateemergencyandweneedphasingoutoffossilfuels,"Greenpeace'sExecutiveDirectorJenniferMorgansaidattheReutersImpactconference.Shesaidoneissuewithplantingtreesasoffsetswasthatittakes20yearsfortreestogrowandoffsetemissionshappeningrightnow.Intheinterimwildfirescoulddestroythechanceofreductions."Theseoffsettingschemes...arepure'greenwash'sothatthecompanies,oilcompanies,cancontinuetodowhatthey'vebeendoingandmakeaprofit,"shesaid.ExecutiveDirectorofGreenpeaceInternationalJenniferMorganattendsasessionatthe50thWorldEconomicForum(WEF)annualmeetinginDavos,Switzerland,January21,2020.REUTERS/DenisBalibouseTherehavealsobeenissueswithhowthecreditsarecounted.InAprilCarbonPlan,agroupthatresearchestheintegrityofprogrammesdesignedtooffsetemissions,saidthat29%oftheforestcarbonoffsetsitanalysedina$2billionprogrammeinCaliforniaoverestimatedtheamountofemissionstheywereoffsetting,totalling30milliontonnesorabout$410million.readmoreGreenpeace'swarningcomesatadecisivemomentforthevoluntarycarbonmarket,whoseproponentsacknowledgetheneedtobecomemoretransparentandaccountable.readmoreDelegatesattheU.N.climateconferencenextmonthareexpectedtoworkondesigningamarkettochannelmoneyintooffsetandemissionsremovalprojectsinthefighttoreachnetzerogreenhousegasemissionsby2050andavoidthemostdevastatingimpactsofclimatechange.Howevercompanieswillneedtostopinvestinginanynewoil,gasandcoalsupplyprojectsiftheworldwantstoachievenetzeroonschedule,theInternationalEnergyAgency(IEA)saidinApril-theglobalwatchdog'sstarkestwarningyettocurbfossilfuels.readmoreTowatchtheReutersImpactconferencepleaseregisterherehttps://reutersevents.com/events/impact/RegisternowforFREEunlimitedaccesstoReuters.comRegisterReportingbyAlessandraPrentice;EditingbyAlexRichardsonOurStandards:TheThomsonReutersTrustPrinciples.IndustryInsightIndustryInsightsReutersProfessionalDavidCraig:‘Ifbusinessistosurvive,ithastostopstealingfromnature’OliverBalchJune7,2022IndustryInsightsReutersProfessionalWhyindigenouspeoplesarekeytoensuringEVrevolutiondoesn’trunoutofroadSarahLabrecqueMay31,2022IndustryInsightsReutersProfessionalIntheraceagainsttimetocutemissions,companies’supplychainsarekeyTerrySlavinMay30,2022IndustryInsightsReutersProfessionalUkrainewarraisesfearsthateffortstotacklemethaneemissionsfromfossilfuelswillbereversedTerrySlavinMay19,2022