![]() ![]() So, too, said Bogue of local California projects. For example, coastal restoration projects for mangroves in Bangladesh were jeopardized when floods devastated the country, Compensate said. Another 16% of the projects Compensate analyzed were considered a failure because their permanence was considered in jeopardy. Of the carbon offsets which Compensate deemed a failure, 52% were guilty of what Compensate called "additionality" - for instance, offset credits sold to protect trees that were never in any danger of being cut down. For the white paper, Compensate analyzed more than 100 nature-based carbon offsets certified by third-party verifiers in the space. Compensate has both a non-profit advocacy arm and a company that sells what it deems to be high quality carbon offsets. The effectiveness of a carbon offset is a contentious issue, but at least one white paper published in April 2021 from the Finnish nonprofit and startup Compensate found that 90 percent of carbon capture projects were ineffective. "And these offsets are actually having zero impact." "There's been some studies out there that up to 90% of carbon offsets are completely ineffective - have had no impact - which is a tragedy of our time, because big Fortune 500 companies are paying millions of dollars to these carbon offsets, and continuing to emit in the meantime," Bogue told CNBC. If a company or organization is unable to eliminate the release of greenhouse gasses in their operations, they may purchase a carbon offset to compensate for their emissions. ![]() "We do not look at companies that need to use carbon offsets to make their business model work."Ī carbon offset is a certificate or voucher that a company or organization buys that represents the reduction of a metric ton, or 2,205 pounds, of carbon dioxide emissions. "We really don't underwrite or like to see companies that are using carbon offsets," Bogue told CNBC in an interview at the end of September in an interview in the Palo Alto office. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit ![]()
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