Thread by @CarbonBubble

Between June 2021 & January 2022, the price of “nature based” #offsets — such as those from tree-planting schemes 🌳🌳 — increased more than 3-fold from around $4.65 per tonne of #carbon to around $14.40, according to S&P Global Platts ft.com/content/29565f… #CCUS #NetZero

Interest in unregulated #offsets market, has grown with proliferation of #NetZero emission pledges since the #COP26 summit + rising pressure on curbing global warming. Expectations are the voluntary carbon market will grow this yr into a space worth $ Bn's ft.com/content/29565f…

Though #oil companies claim to use only “high-quality” #offsets as part of their #NetZero goals, monitoring millions of acres of forest is hugely challenging. Experience of recognised programs like UN’s REDD initiative = mixed at best carbontracker.org/oil-companies-…

For e.g. weak implementation on the ground means protecting one forest 🌳🌳 often leads to a different forest being logged 🪚 instead carbontracker.org/oil-companies-… #offsets #CCUS

#Shell’s & #Eni’s new climate targets have been criticised for relying heavily on emissions #offsetting, primarily in the form of nature-based solutions (NBS) – i.e. planting & protecting forests & other natural #carbon sinks carbontracker.org/oil-companies-…