The allure of “verified” carbon credits is obvious, but new research finds the verification process deeply flawed by the fact that auditors are hired and paid by project developers, creating a financial incentive to sign off on dubious credits.
Finance Industry
Finance Industry
Posted inCollaborations, Finance Industry, Latin America + Caribbean
In Colombia, Chevron has a habit of buying carbon credits from projects made behind indigenous people’s backs.
Leaders of the Cotuhé Putumayo indigenous reservation, in the Colombian Amazon, say that they do not know about the carbon credit project taking place on their land, which has sold more than 3 million credits. The largest purchaser of credits in the project is a local subsidiary of U.S. oil company Chevron.
Posted inFinance Industry
Banks Back Away from Climate Commitments, Find the Business Case in Climate Risk
One by one global banks are abandoning their climate commitments, but they can’t ignore the financial implications of unchecked climate change and so, a rhetorical pivot toward the language of risk and resilience.
Posted inFinance Industry, Think Tanks
Roots of ESG, Anti-“Woke” Capital, and the New Battle in Climate Obstructionism
How right-wing groups organized and mobilized state treasurers in the anti-ESG battle.
Posted inFinance Industry, Fossil Fuel Industry, International climate negotiations, Litigation and Law
Secret Tribunals and Hand-Picked Arbiters—A Little-known System Undermines Environmental Regulation
How trade agreements and mandatory arbitration clauses could make it harder for countries worldwide to take strong climate action.