Carbon offsetting is not warding off environmental collapse – it’s accelerating it

theguardian.com:

There is nothing that cannot be corrupted, nothing good that cannot be transformed into something bad. And there is no clearer example than the great climate land grab.

We now know that it’s not enough to leave fossil fuels in the ground and decarbonise our economies. We’ve left it too late. To prevent no more than 1.5C of heating, we also need draw down some of the carbon already in the atmosphere.

By far the most effective means are “nature-based solutions”: using the restoration of living systems such as forests, salt marshes, peat bogs and the seafloor to extract carbon dioxide from the air and lock it up, mostly in trees or waterlogged soil and mud. Three years ago, a small group of us launched the Natural Climate Solutions campaign to draw attention to the vast potential for stalling climate breakdown and a sixth mass extinction through the mass revival of ecosystems.

While it is hard to see either climate or ecological catastrophe being prevented without such large-scale rewilding, we warned that it should not be used as a substitute for decarbonising economic life, or to allow corporations to offset greenhouse gases that shouldn’t be produced in the first place. We found ourselves having to shed a large number of partner organisations because of their deals with offset companies.

But our warnings, and those of many others, went unheeded. Something that should be a great force for good has turned into a corporate gold rush, trading in carbon credits. A carbon credit represents one tonne of greenhouse gases, deemed to have been avoided or removed from the atmosphere. Over the past few months, the market for these credits has boomed.

There are two legitimate uses of nature-based solutions: removing historic carbon from