More questions raised about offsets

BTN News
Monday, 13 May 2024

The UN-backed Science-Based Targets initiative (SBTi) that audits companies' emission reduction plans says offsetting may be largely ineffective, a preliminary draft reviewed by Reuters reveals.


The SBTi findings were based on a review of evidence in scientific papers and other submissions by interested parties in a consultation - and they have not previously been published.

The interim findings next will be subject to further analysis and review, including from the Scientific Advisory Group, a panel comprising climate scientists from around the world. 

Many companies and climate bodies plus experts including former US climate envoy John Kerry argue offsets are needed to encourage more investment in clean energy and to meet a global pledge to reduce emissions to net zero by 2050, but many schemes in global markets have been criticised for a lack of discipline, with too little hard evidence that for example, planting trees can compensate for industrial emissions.

The document reviewed by Reuters states that "higher quality empirical and observational evidence suggests that some or most emission reduction credits are ineffective in delivering emissions reductions" and one scientific paper it reviewed found "no significant evidence" that projects in the Brazilian Amazon have mitigated forest loss and "some schemes sell more carbon credits than the projects can deliver on or they exaggerate the emission reductions they achieve".

The US said in April that it is preparing guidelines for use of carbon offsets (inside and outside government) to build confidence in the market and ensure credits reflect real emissions cuts. 

Across the Atlantic, the European Union wants to introduce voluntary carbon credits into a carbon allowance scheme it already runs.

The United Nations' COP28 climate talks failed to seal a deal on new rules which would allow the launch of a central system for countries and companies to begin offsetting their carbon emissions and trading those offsets.

More questions raised about offsets

BTN News
Monday, 13 May 2024

The UN-backed Science-Based Targets initiative (SBTi) that audits companies' emission reduction plans says offsetting may be largely ineffective, a preliminary draft reviewed by Reuters reveals.


The SBTi findings were based on a review of evidence in scientific papers and other submissions by interested parties in a consultation - and they have not previously been published.

The interim findings next will be subject to further analysis and review, including from the Scientific Advisory Group, a panel comprising climate scientists from around the world. 

Many companies and climate bodies plus experts including former US climate envoy John Kerry argue offsets are needed to encourage more investment in clean energy and to meet a global pledge to reduce emissions to net zero by 2050, but many schemes in global markets have been criticised for a lack of discipline, with too little hard evidence that for example, planting trees can compensate for industrial emissions.

The document reviewed by Reuters states that "higher quality empirical and observational evidence suggests that some or most emission reduction credits are ineffective in delivering emissions reductions" and one scientific paper it reviewed found "no significant evidence" that projects in the Brazilian Amazon have mitigated forest loss and "some schemes sell more carbon credits than the projects can deliver on or they exaggerate the emission reductions they achieve".

The US said in April that it is preparing guidelines for use of carbon offsets (inside and outside government) to build confidence in the market and ensure credits reflect real emissions cuts. 

Across the Atlantic, the European Union wants to introduce voluntary carbon credits into a carbon allowance scheme it already runs.

The United Nations' COP28 climate talks failed to seal a deal on new rules which would allow the launch of a central system for countries and companies to begin offsetting their carbon emissions and trading those offsets.