System not fit for carbon offsetting, puts Indigenous communities at risk and should be replaced with new approach, say researchers
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    1 year ago

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    Rainforest conservation projects are not suitable for carbon offsetting and a different approach should be used to effectively protect critical ecosystems such as the Amazon and Congo basin, a report has concluded.

    It generates highly inflated environmental impacts and some projects fail to provide safeguards for vulnerable forest communities, according to the report, making them unsuitable for companies to use for carbon offsetting claims as they are not equivalent to fossil fuel emissions.

    An entirely different approach is needed to reduce deforestation and cut emissions,” said Barbara Haya, the director of the Berkeley Carbon Trading project who led the report.

    In response, Verra said it welcomed the scrutiny of the scientific and environmental community on its work, saying that many of the issues highlighted in the report would be dealt with in the new methodology for generating carbon credits, which it will be publishing in the next few weeks.

    “It is important to note that the vast majority of findings and recommendations from this research align with extensive and systematic work to update the Verified Carbon Standard (VCS) Program that has been carried out by Verra over the last two years,” it added.

    “Biodiversity, the climate and Indigenous people or local communities are losing out on what should have been a system to drive meaningful financial flows to the forest conservation projects that so desperately need it,” said Gilles Dufrasne, policy lead on global carbon markets for CMW.

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