![]() “Businesses have gone really quiet,” says the Guardian’s Greenfield. Chevron CVX, Shell, BP, Gucci, BHP, Salesforce, and Samsung are among the companies buying Verra-approved carbon credits. Overall, the demand for forestry-related carbon credits is declining, says Trove Research and AlliedOffsets - from 380 million in 2021 to 359 million in 2022.Īnd the Guardian’s investigation is causing a lot of introspection, pointing out that companies are buying credits to save trees that are not at risk, inflating the threat of deforestation by 400%. But that process is drawing increased scrutiny. The analysis says the voluntary carbon market has attracted $1.2 billion through 2022, mitigating 161 megatons of carbon emissions. “Global standards and integrity bodies could play a vital role in defining norms for and instilling confidence in the use of credits.” “There are important opportunities for market reform that would increase transparency and ensure that market capital flows to where it should,” it continues. “Recent reports suggest that in some cases significant shares of end-user costs do not reach the projects and communities that so acutely need financial support. “The transparency of the market urgently needs to be improved,” says the study. Meantime, 40% of them worried about “reputational risks” - a public backlash about investing in iffy projects at the expense of creating operational efficiencies. However, 55% of the businesses cited a lack of transparency, 55% referenced varying carbon credit quality, and 50% noted the complex web of standards. The January 2023 report says that companies need “precise information” to make good decisions. surveyed 137 companies, finding that less than 20% planned to buy carbon credits. (Photo by Carsten Koall/Getty Images) Getty Images The CO2 emission will be one top of the agenda and will be discussed at the summit in December in Copenhagen. at the Jaenschwalde lignite coal-fired power station, which is owned by Vatenfall, on Novemin Janschwalde, Germany. JANSCHWALDE, GERMANY - NOVEMBER 24: A loan wind turbine spins as exhaust plumes from cooling towers. Altogether, 29 events wreaked havoc, including Hurricane Ian, which cost $20 billion. Global stakeholders are witnessing the effects of climate change - a phenomenon that caused hundreds of billions in economic damages in 2022, ranging from Pakistan’s floods to Europe’s wildfires to California’s droughts. (Photo by ANGELOS TZORTZINIS / AFP) (Photo by ANGELOS TZORTZINIS/AFP via Getty Images) AFP via Getty Images Greece and Turkey have been battling devastating fires for nearly two weeks as the region suffered its worst heatwave in decades, which experts have linked to climate change. Hundreds of Greek firefighters fought desperately on August 8 to control wildfires on the island of Evia that have charred vast areas of pine forest, destroyed homes and forced tourists and locals to flee. ![]() forest fires approaching the village of Pefki on Evia (Euboea) island, Greece's second largest island, on August 8, 2021. TOPSHOT - A local resident gestures as he holds n empty water hose during an attempt to extinguish.
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