"Long-Awaited Rules for Carbon Offset Market Disappoint Experts"

"A global governance body has released new standards aimed at rebuilding trust in a market facing repeated failures."

"A widely touted effort to clean up the embattled carbon-offsets market has been met with disappointment among experts.

The new guidelines from the Integrity Council for the Voluntary Carbon Market, released Thursday following three years of work, present incremental improvements to a system that allows corporations and individuals to pay for credits that compensate for their climate damage.

“Twenty years ago this kind of effort might have been a good idea,” said Danny Cullenward, a research fellow at American University. “Now it feels like far too little, too late.”"

Natasha White and Akshat Rathi report for Bloomberg Green March 29, 2023.

Source: Bloomberg Green, 03/31/2023