The Carbon Offset Trap

The market where carbon offsets are bought and sold has been projected to grow and grow, as big companies look to prove they can reach net zero. But where achieving reductions in emissions is impossible or expensive, an alternative is to try and arrange for carbon to be taken out of the atmosphere instead. The markets have thrived on linking buyers of carbon offsets - big firms, and even governments - to development projects in poorer countries, where land and labour for tree planting are cheap.But can these projects be safely verified and measured? Are local communities being exploited to try and make the maths add up? And can the industry afford to admit when a project is underperforming the expectations according to which carbon credits have been sold?Investigative reporter Max de Haldevang hears from experts and individuals directly involved in high profile carbon offset projects to find out.CORRECTION: A contributor to this programme states that sales of Plan Vivo credits generated about $100m in 2023-24. In fact, the correct figure is $8.7m. It is also stated by a contributor that “Plan Vivo is relatively niche in terms of registries. They have a market share of about 1%”. To clarify, while Plan Vivo’s market share is about 1%, it is incorrect to refer to the company as a registry; Plan Vivo uses a third party registry to issue Plan Vivo Certificates.Producer: Robert NicholsonA Whistledown production for BBC Radio 4