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Companies Rally Behind Carbon Credits

A vast majority (89%) of companies view carbon credits as a valuable tool to mitigate CO2 emissions, according to a new survey of more than 500 medium to large businesses across the US, UK and Europe. Conducted by Conservation International and the We Mean Business Coalition, the survey explored the priorities of businesses seeking to reduce their emissions. It found that, while companies generally support the use of carbon credits traded in voluntary carbon markets (VCMs) to offset emissions that can’t be cut in the short-term, there are concerns around potential greenwashing, as well as challenges in evaluating the quality of carbon credits. The lack of regulation and transparency were also identified as barriers to increasing investment. M. Sanjayan, Conservation International CEO, said: “Climate change is the greatest test of collective action in human history, and a crisis of that scale demands an all-hands-on-deck, all-of-the-above strategy. Carbon credits are a proven tool for immediately reducing emissions, while also pursuing longer-term decarbonisation ambitions. And though it isn’t always reflected in the headlines, this study affirms that private-sector buyers are indeed gravitating toward high-quality credits, placing a premium on transparency and accountability.” 

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