About ninety percent of rainforest carbon offsets certified by Verra, the world’s largest offset certifier, do not reflect real reductions in emissions, according to a report produced jointly by the Guardian, Source Material, and Die Zeit in January 2023, with subsequent coverage from Truthout. Verra, which runs the Verified Carbon Standard that has issued more than one billion metric tons worth of carbon offsets, certifies three-fourths of all voluntary carbon offsets. Overall, the investigative reports found that where Verra claimed to have certified 94.9 million credits—each of which represents a reduction of one metric ton of carbon emissions—the actual benefits of the projects validated by Verra amounted to a much more modest 5.5 million credits.
To assess the efficacy of Verra’s carbon offset certification program, investigative journalists from the Guardian, Source Material, and Die Zeit analyzed the only three scientific studies to use robust, scientifically sound methods to assess the impact of carbon offsets on deforestation. At the same time the journalists also consulted with indigenous communities, industry insiders, and scientists.
One scientific study which analyzed 29 Verra rainforest offset projects found that 21 had no climate benefit, seven had significantly less climate benefit than claimed (by
— source projectcensored.org | Apr 14, 2023