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   Bread and Circuses (breadandcircuses@climatejustice.social)'s status on Tuesday, 29-Aug-2023 05:54:34 JST Bread and Circuses

   Oil companies are lying to us. But they're not the only ones.

   Governments which provide bogus "carbon credits" to polluters are also lying to us, and so is the financial industry that markets these phony investments.
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   A popular method for reducing carbon emissions may be little more than “hot air,” a new study has found.

   In past years, financial markets have done increasingly brisk business in “voluntary carbon offsets,” projects that ostensibly capture greenhouse gas emissions — or prevent them from being released into the atmosphere.

   One of the leading forms of offsets — used by many leading corporations — is “forest carbon offsets.” Under such programs, companies subsidize forests which absorb the equivalent of the companies’ carbon emissions as they grow — at least in theory.

   The study published Thursday in Science offers strong evidence that the theory doesn’t live up to the practice.
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   Carbon offsets are a scam, a fraud, nothing more than a dishonest and criminal excuse for the fossil fuel industry to carry on with Business As Usual.

   FULL STORY -- https://thehill.com/policy/equilibrium-sustainability/4169871-a-leading-corporate-strategy-for-battling-climate-change-is-hot-air-study-finds/

   #Environment #Climate #ClimateChange #ClimateCrisis #ClimateEmergency #Capitalism #BusinessAsUsual #Greenwashing