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Now Is Your Chance to Fix the Carbon Offset Market

The fate of a multibillion-dollar market for carbon offsets hangs in the balance as new guidance is released to tackle some of the worst market abuses.

Trees scorched by wildfires reflected in a firefighter’s helmet in a forest near the village of Louchats in Gironde, France, on Thursday, July 21, 2022. 

Trees scorched by wildfires reflected in a firefighter’s helmet in a forest near the village of Louchats in Gironde, France, on Thursday, July 21, 2022. 

Photographer: Nathan Laine/Bloomberg

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Imagine a financial tool that solves three problems at once — it lowers greenhouse gases, rejuvenates forests and improves the lives of the poor. That’s the promise of carbon offsets, and it’s rarely been met.