‘Worthless’ forest carbon offsets risk exacerbating climate change
- Media Manager
- Aug 24, 2023
- 2 min read
The Conversation
Written By: Gustavo Frazao
Published: August 24th, 2023
In early 2023, the Guardian published an article suggesting that more than 90% of rainforest carbon offsets are worthless. These credits are essentially a promise to protect forests and can be bought as a way to “offset” emissions elsewhere. Verra, the largest certifier of these offset credits, said the claims were “absolutely incorrect” but the story still shook confidence in the billion-dollar market. Soon after, Verra’s CEO stood down.
The claims in the Guardian article rested heavily on analysis which had been published as a preprint (before peer review). Now the research has been fully peer-reviewed and is published in the journal Science. It shows unequivocally that many projects which have sold what are known as REDD+ (reducing emissions from deforestation and degradation) credits have failed to reduce deforestation.
REDD+ projects aim to slow deforestation (for example, by supporting farmers to change their practices). They quantify the carbon saved through reducing deforestation relative to what would have happened without the project, and sell these emission reductions as credits.
However, while previous analysis showed that some REDD+ projects have contributed to slowing deforestation and forest degradation, the central finding from the new study is that many projects have slowed deforestation much less than they have claimed and, consequently, have promised greater carbon savings than they have delivered. So that guilt-free flight to New York probably isn’t carbon neutral after all.
The finding that many REDD+ carbon credits have not delivered forest conservation is extremely worrying to anyone who cares about the future of tropical forests. We spoke to Sven Wunder, a forest economist and a co-author of the new study. He told us that: “To tackle climate change, tropical deforestation must be stopped. Forests also matter for other reasons: losing forests will result in loss of species, and will affect regional rainfall patterns. Despite the evidence that REDD+ has not been delivering additional conservation, we cannot afford to give up.”
