Carbon Credit Scam Alert: One-Third of All Credits Fail Standard

In August 2023, MDN told you about a Cambridge University study published in the journal Science exposing the sale of carbon credits as a scam (see Cambridge Study Finds Carbon Offsets Using Trees is a Scam). With the carbon credit scam exposed, big companies like Shell, Nestle, and Gucci exited the market, refusing to spend money on pretend solutions to global warming (see With Carbon Credits Scam Exposed, Big Names (Like Shell) Exit Market). Now comes more bad news for the carbon credit market: The Integrity Council for the Voluntary Carbon Market (ICVCM) said eight renewable power methodologies, which cover around 236 million unretired or unused carbon credits making up 32% of the market, had failed to meet the requirements of its standard on additionality grounds.

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