LONDON – British businesses are increasingly using carbon offsets to mask insufficient efforts to reduce their own greenhouse gas (GHG) emissions, according to a new report from the Climate Change Committee (CCC).
Too many companies in the UK are buying low-quality offsets to progress towards net zero because it is easier and less expensive than reducing the impact of their own operations and global supply chains on climate change, it claims.
The CCC, which advises the government on how best to meet its climate targets, says that voluntary carbon markets have tripled in size since 2019 and there is a “real risk” this could actually slow progress towards Net Zero.
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