Carbon markets will not save our planet

(Context, 12 Jun 2023) As countries meet at Bonn climate talks, they must reject false solutions like carbon offsets.

Hemantha Withanage is chair of Friends of the Earth International

Over recent months and years, several investigations have cast a long shadow over carbon offsets and carbon markets. The truth is, they simply don’t work. And why would they?

Why would we ever trust the oil and gas industry that caused the climate crisis – and continued to fuel it knowingly for decades – to come up with the solution?

The industry’s business model is based on profit, first and foremost, at the expense of the planet’s resources and people like you and me. It should come as no surprise that the kind of ‘solutions’ that fossil fuel corporations and rich countries put forward are designed to protect that model, and to avoid changing the status quo.

This week, negotiators from around the world continue meetings at United Nations climate talks in Bonn, Germany, where the question of offsets and carbon removals will once again be on the table under Article 6 of the Paris Agreement.

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Context, 12 Jun 2023: Carbon markets will not save our planet