94% of Forest-Based Carbon Offsets Certified By Leading Global Provider Are ‘Phantom Credits,’ Major Investigation Finds
A new investigation from The Guardian, Die Zeit and SourceMaterial leads heavily towards the latter conclusion. The report, published Wednesday, found that more than 90 percent of the rainforest offset credits offered by top carbon standard Verra are actually what The Guardian called “phandom credits” that don’t actually remove carbon dioxide from the atmosphere.
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