ESG & Investing
Canada’s Explosive Wildfires Have Damaged a Forest Carbon Offset Project
The unusually early and intense wildfire season is impacting a popular but controversial tool used to fight climate change: carbon offsets.
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Canada’s explosive wildfire season has already pumped millions of tons of carbon dioxide into the atmosphere. Some of that carbon is coming from vegetation burned at a carbon offset project, highlighting the fragility of a tool the world is relying on to fight catastrophic climate change.
With Canada facing what’s on track to be its worst wildfire season on record — and climate change fueling ever more destructive blazes — climate experts and offset developers are concerned it could be a harbinger of what’s to come.