The global market for voluntary carbon offsets – which are the removal of emissions of carbon dioxide or other greenhouse gases in order to compensate for emissions made elsewhere – has grown rapidly in recent years.
But in a new report, the CCC said that offsets often deliver fewer benefits than claimed, and they may discourage out other environmental objectives in the rush to capture carbon.
It looked at the evidence on the impact of voluntary carbon markets and offsetting and suggested that stronger governance to ensure high-integrity carbon credits was needed alongside clearer guidance for businesses to encourage them to cut their own emissions before turning to offsets.
“Businesses want to do the right thing and it’s heartening to see so many firms aiming for early Net Zero dates,” said Chris Stark, chief executive of the CCC, which is a statutory body set up to advise the UK and devolved governments.
“But poor-quality offsets are crowding out high...