Africa hopes voluntary carbon markets will fund climate finance and create jobs - But some see carbon credits as a false solution because companies will use the system to avoid cutting their carbon emissions
are where carbon credits are purchased for voluntary use rather than to comply with legally binding emissions reduction obligations. Carbon credits, or carbon offsets, are certificates representing one tonne of CO2 equivalent that has either been prevented from being emitted or removed from the atmosphere.
For example, carbon offsets occur when a polluting company buys a carbon credit to make up for the greenhouse gas it has emitted, to the World Economic Forum . That money should be used to fund action elsewhere that removes the same amount of carbon from the atmosphere to prevent carbon emissions.Subscribe to the M&G today for just R30 for the first three months* to gain access to this story and all our best journalism, subscriber-only newsletters, events and a weekly cryptic crossword.”
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