Say a company needs to hit net-zero emissions, but instead of shutting down its fossil fuel facility, it keeps the plant open and promises to offset its pollution by investing in a project that expands a forest. That project would be considered a carbon offset.
On paper, the investment might allow the company to reach its goal, but it doesn’t address the longer-term pollution, and the returns are far from guaranteed. It can take decades—or sometimes centuries—for forests to grow big enough to be effective carbon-storers. Forests are also subject to unpredictable damage, like droughts or wildfires, which then release carbon back into the atmosphere. We also run into a math problem: There simply isn’t enough available land for every country and corporation to rely on this offset. Yet most pledges include it to some degree.
Wealthy counties are more capable of this abuse because they can invest in offset projects elsewhere while continuing to pollute at home. In turn, developing nations, which are some of the most vulnerable to and least responsible for the climate crisis, are expected to take much more costly climate actions, like transitioning to renewables, in order to hit their own emissions targets.
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