Swiss Carbon Offset Giant Pulls Plug On Zimbabwe Project Amid Allegations
- Media Manager
- Oct 26, 2023
- 1 min read
MENAFN
Published: October 27th, 2023
Carbon offsets allow firms and individuals to compensate for the carbon emissions they create – through, for example, an airplane flight or a building project – by paying to pull carbon out of the air elsewhere. Voluntary offsets have developed into a billion-dollar global market.
South Pole said on Friday that it was not confident the Kariba REDD+ project - owned and developed by Carbon Green Investments (CGI) - met the standards it expected from its partners.
The Kariba REDD+ forest conservation project in northern Zimbabwe is one of the world's largest forest conservation projects. REDD stands for “Reducing emissions from deforestation and forest degradation in developing countries”.
