Facing the facts: carbon offsets unmasked

A series of articles debunking the most frequently used corporate myths about carbon offsets.

Since the possibility of a carbon dioxide (CO₂) trading scheme was first introduced during the 1997 UN climate negotiations in Kyoto, carbon offsets have come to dominate policy discussions internationally. The 1990s saw an expansion of corporate power, enabled by the rise of neoliberalism, which allowed the same corporations that caused much of the climate crisis to heavily influence the proposed ‘solutions’. Their proposals reflected, first and foremost, the imperatives of capitalism and continued economic growth.

These proposals were given significant weight, mainly by Western policymakers, and, consequently, in international climate negotiations. It is unsurprising that a core proposal to address the climate crisis was the creation of a new industry, which included investment opportunities with the potential to profit from the climate crisis.

The international carbon market was born in this context.

This market, specifically carbon offsetting, is based on myths and fallacies that do not stand up to scrutiny. As international climate debates intensify globally, SOMO is publishing a series of articles debunking the most frequently used corporate myths about carbon offsets.

Facing the facts about carbon offsets

The ‘Facing the facts: carbon offsets unmasked’ series summarises the wealth of evidence demonstrating that carbon offsetting does not work. On the contrary, offsetting fundamentally undermines emissions reduction, forest protection, and human rights. Such false solutions must be abandoned if the world is to move forward in an effective and just manner.

This series mainly focuses on forest-based carbon offset projects, which have been the main form of carbon offsetting in the voluntary market.

As we move through this series of articles, we point to credible and vital actions to address the climate crisis effectively while putting justice at the centre.

A brief history of colonialism, climate change and carbon markets

Climate change is embedded in the history of colonialism and capitalism. It is important to reflect on this history in order to better understand the emergence and promotion of the carbon market.

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