Opinion

Many carbon credits bought by speculators have no environmental value and have become useless assets, potentially causing them to lose billions of dollars.

A new study reveals that forest carbon offsets, a popular method for reducing carbon emissions, may not be as effective as claimed, with 94% of offset credits generating less carbon reduction than advertised.

Kenya's parliament has introduced legislation to facilitate the trading of carbon credits in order to reduce carbon emissions, with one local manufacturer already producing low-emission cooking stoves.

The voluntary carbon markets have experienced a decline for the first time in at least seven years, with companies reducing their purchases and concerns arising about the effectiveness of forest protection projects in delivering emissions savings. This decline has negative implications for poorer nations reliant on funds from multinational companies for climate mitigation projects.

Focusing on cutting demand for fossil fuels through measures such as carbon taxes and renewable energy subsidies is more effective than solely curbing supply, as it incentivizes investors and banks to stop funding the industry and leads to a reduction in production, according to climate change activists.

Global carbon markets are an alternative model for addressing greenhouse gas emissions and combating climate change, providing an avenue for companies and individuals to offset their emissions and promote sustainable consumption patterns; Brazil, with its substantial natural capacity for carbon dioxide capture, has the potential to become a sustainability powerhouse in this field.