Study analyses 18 major carbon offset projects, and compares their conservation claims with matched sites that offer a real-world benchmark for deforestation levels. Over 60 million carbon credits came from projects that barely reduced deforestation, if at all. Of a potential 89 million credits from these offset schemes, only 5.4 million (6%) were linked to additional carbon reductions through preserved forest.
The majority of carbon offset schemes are significantly overestimating the levels of deforestation they are preventing, according to a study published today inThis means that many of the"carbon credits" bought by companies to balance out emissions are not tied to real-world forest preservation as claimed.
Organisations and individuals can then offset their own carbon footprint by purchasing credits equivalent to a given quantity of emissions. Kontoleon points out that overestimations of forest preservation have allowed the number of carbon credits on the market to keep rising, which in turn supresses the prices.
The research team took a"counterfactual" approach. They identified existing areas of forest within a given region that closely resemble each particular REDD+ project -- from matching levels of forest cover and soil fertility to similar records of mining and deforestation. Even the remaining 32% of carbon credits originated from REDD+ projects that had not conserved forest to the levels claimed by the project developers.
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