Tuesday 23 May 2023

Credits Where Credits Are Due?


The carbon credits sector is a big business, worth circa $2bn/year. The Washington-based, 'non-profit' company, Verra is its major player. Verra's 'rainforest credits' have been purchased, by the likes of Disney, Gucci and Shell, to 'fulfill' climate and/or biodiversity commitments. Verra have collected tens of millions of dollars for their credits'. Its CEO has just announced he will step down in 2024 (https://www.theguardian.com/environment/2023/may/23/ceo-of-worlds-biggest-carbon-credit-provider-says-he-is-resigning). It's been strongly suggested that Verra's 'rainforest credits' are actually an expensive form of 'greenwash'. People are asking whether the CEO was pushed or jumped? The planet needs actual actions by big companies, not the purchasing of a useless 'get out of jail card'! This is purely cosmetic.

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