GRAY MAGUIRE: Scientific best practice over carbon offsets ditched for sensationalism
From John Oliver’s scathing review in ‘Last Week Tonight’ to The Guardian’s sensationalism, it's all about airtime
Careful scrutiny of rapidly emerging, complex markets is desirable, and the carbon offset markets should be no exception. While not exactly new given the UN’s clean development mechanism programme has been generating credits since 2006, the intricate web of standards and offset methodologies that has developed subsequently has certainly delivered huge complexity.
Carbon offsets are tradable certificates representing measurable reductions or sequestrations of greenhouse gas (GHG) emissions, derived from projects such as renewable energy, energy efficiency, waste diversion, green transport and nature-based solutions. The market for these credits allows for the transfer of finance to parties leading the way on reducing atmospheric GHGs. The rapid growth of the market facilitated the transfer of $1.2bn to projects combating climate change in 2022. ..
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