Since the first scientific critiques of fossil fuels, oil companies have gone from being the “wealth of nations” to “destroyers of the planet.” In financial market terms, they have become environmental liabilities. It cannot be said, however, that they have also become economic liabilities. The global carbon credit market is heating up — quite like […]
  • Through its 2021-founded subsidiary MyCarbon, Brazil’s meat processing giant Minerva Foods is emitting and selling carbon credits to big oil companies that are in a rush to move away from a polluting stigma.
  • Some credit-obtaining projects, however, face criticism over a lack of transparency and procedural perils. The controversies include unfulfilled promises to restore degraded ecosystems, such as the biodiverse Cerrado pasturelands, and halt deforestation within Amazon areas.
  • The case raises concerns that the carbon market may be rubber-stamping the maintenance of industrial activities with high ecological impact, without truthfully contributing to the reduction of greenhouse gas emissions and other environmentally damaging practices.

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  • Hirom@beehaw.org
    2·
    14 days ago

    Turn the carbon market into a carbon tax. There would be no made up carbon credit to sell.

  • Jim East@slrpnk.netOPEnglish
    11·
    14 days ago

    The case raises concerns that the carbon market may be rubber-stamping the maintenance of industrial activities with high ecological impact, without truthfully contributing to the reduction of greenhouse gas emissions and other environmentally damaging practices.

    And guess which industrial activities have the highest ecological impact, particularly in regard to climate change?