“According to our criteria and classification system:
- A total of 39 of the top 50 emission offset projects, or 78% of them, were categorised as likely junk or worthless due to one or more fundamental failing that undermines its promised emission cuts.
- Eight others (16%) look problematic, with evidence suggesting they may have at least one fundamental failing and are potentially junk, according to the classification system applied.
- The efficacy of the remaining three projects (6%) could not be determined definitively as there was insufficient public, independent information to adequately assess the quality of the credits and/or accuracy of their claimed climate benefits.
“Overall, $1.16bn (£937m) of carbon credits have been traded so far from the projects classified by the investigation as likely junk or worthless; a further $400m of credits bought and sold were potentially junk.” – keep reading