A new independent body is to regulate carbon offsetting and try to allay fears of greenwashing raised by the controversial practice, under plans put forward by a group of businesses and experts.
The regulator, proposed by the Taskforce on Scaling Voluntary Carbon Markets, would begin operating later this year and oversee the issuance of carbon credits, in projects such as tree-planting or forest protection schemes, to businesses who want to buy them to make up for the impact of their own greenhouse gas emissions.
However, green campaigners attacked the plans, which they said would not lead to genuine reductions in greenhouse gas emissions.
Charlie Kronick, senior climate campaigner at Greenpeace UK, said: “This plan fails to get to grips with the real challenges of carbon credits – it’s a trader’s charter, written by and for the companies that want to buy and sell pollution, not cut it. It ignores what leading scientists have made clear, that…