US to Outline Vision for Carbon Offsets Dogged by Controversy
Top officials are set to lay out broad guidelines for how companies can use carbon credits to meet their climate goals.
Top Biden administration officials, including Treasury Secretary Janet Yellen, are set to lay out the first broad US government guidelines for carbon markets next week, a major win for advocates of emission offsets as a weapon against global warming.
The move is a bid by the US to encourage a new era of what it calls “high-integrity carbon markets” and help rehabilitate a climate solution that’s been dogged by controversy. Although there’s increasing interest in using offsets to unlock billions of dollars for decarbonization, the credits have drawn intense criticism after revelations that multiple projects never delivered on their emission-cutting claims.