Tag: Carbon Market Watch

Oil spill: How fossil fuel interests are seeping into the voluntary carbon market rulebook

Stuart Mitchell

Oil and gas interests pollute the carbon crediting rulebook and invest heavily in a marketplace flush with low-quality carbon credits. An upcoming Carbon Market Watch report demonstrates how some of the world’s biggest fossil fuel companies use their oversized leverage to influence major decision-making bodies in the voluntary carbon market. For the last three years, the world’s largest corporate buyer of carbon credits on the voluntary carbon market has been oil and gas supermajor Shell. While at first glance such a buying spree might be understood to represent climate consciousness…

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Slow improvement in companies’ climate targets threatened by potential new offsetting loophole

Stuart Mitchell

Despite increased ambition in their climate target-setting, 51 of the world’s largest companies commit to reducing their emissions by only 30% on average by 2030, falling short of the 43% reduction required to limit global warming to 1.5°C, according to a report released today by NewClimate Institute in collaboration with Carbon Market Watch.  While the slight improvement in the companies’ targets is a positive step, the report warns against taking these targets at face value, as many companies still rely on loopholes and false solutions to exaggerate the ambition of…

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