this post was submitted on 11 Jul 2024
286 points (99.7% liked)

World News

38255 readers
2198 users here now

A community for discussing events around the World

Rules:

We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.

All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.


Lemmy World Partners

News !news@lemmy.world

Politics !politics@lemmy.world

World Politics !globalpolitics@lemmy.world


Recommendations

For Firefox users, there is media bias / propaganda / fact check plugin.

https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/

founded 1 year ago
MODERATORS
 

Finite Carbon, created in 2009 and bought by British multinational oil and gas giant BP in 2020, is responsible for more than a quarter of the US’s total carbon credits, which it says it generates from protecting more than 60 “high credibility, high integrity projects” across 1.6m hectares (4m acres).

However, experts at the offsets ratings agency Renoster and the non-profit CarbonPlan analyzed three projects accounting for almost half of Finite Carbon’s total credits, with an estimated market value of $334m, according to analysis by market intelligence company AlliedOffsets. Renoster found issues, including trees in a project in the Alaska Panhandle that were probably never in danger of being cut down in an already extensively logged area. Of the credits Renoster looked at, they found that about 79% should not have been issued.

Renoster, a company mostly used by prospective buyers of carbon credits to help them avoid those without real climate benefits, was commissioned by the non-profit newsroom SourceMaterial to examine Finite’s projects. CarbonPlan provided additional analysis.

you are viewing a single comment's thread
view the rest of the comments
[–] TheGalacticVoid@lemm.ee 12 points 1 month ago

This isn't new, and this isn't limited to oil companies. Many carbon-credit "issuers" have scummy practices, and many others are misleading despite best intentions