: An investigation highlighted in the show revealed that up to 90% of rainforest carbon offsets approved by major certifiers like Verra were likely "worthless" or "junk" credits.
The story concludes that while offsets could theoretically help, they are currently used as a tool for . They allow companies to avoid the more difficult task of actually cutting their own emissions at the source by simply throwing money at questionable projects.
Mapped: The impacts of carbon-offset projects around the world [S9E21] Carbon Offsets
: If a project doesn't provide additional benefits, the company buying the credit is technically still polluting without actually helping the environment, leading to a net increase in global emissions. Case Studies in "Phantom Credits"
: Many projects, particularly large-scale renewable energy farms or forests that were never under threat, would have existed anyway. : An investigation highlighted in the show revealed
: Credits are often sold for protecting forests that weren't actually in danger of being cut down. Oliver mocks this as "paying someone not to do something they weren't going to do anyway."
The story of refers to the main segment of Last Week Tonight with John Oliver , which aired on August 21, 2022 . The episode dives into the "Wild West" of the voluntary carbon market, exploring why these popular tools for achieving "net-zero" goals are often deeply flawed. The Premise: The "Net-Zero" Illusion Mapped: The impacts of carbon-offset projects around the
Oliver centers the story on the concept of —the requirement that an offset project must only happen because of the carbon credit funding.