Critics say millions of dollars are being spent by local governments on offsetting when it should be the last resort
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Renewed questions are being asked about Australian councils’ use of international projects to offset local carbon emissions, off the back of a Guardian investigation that found 90% of rainforest credits issued by one leading company were likely worthless.
The research into Verra, a world leader in the rapidly growing voluntary offsets market, found that the majority of rainforest offset credits were likely “phantom credits” and do not represent genuine carbon reductions.