LONDON – Employees at the Science Based Targets initiative (SBTi) have raised concerns after their board proposed plans to allow companies to use carbon credits to compensate for their supply chain emissions. A confidential draft into carbon offsets, reviewed by Reuters, has revealed offsets may largely be ineffective.
The market for voluntary carbon offsets is still small, valued at approximately US$2bn. However, many multi-nationals are now looking closely at carbon offsets, carbon capture and various other schemes to meet emissions reductions targets.
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