The Controversy of Carbon Credit Schemes

Carbon credit schemes are intended to reduce greenhouse gas emissions by allowing heavy polluters to offset their emissions through purchasing carbon credits. However, new research has raised significant doubts about their effectiveness, particularly regarding Human Induced Forest Regeneration (HIR) projects in Australia. It was found that a staggering 95% of these projects are on land that was never deforested, meaning credits are issued for regrowth in areas where trees would thrive regardless. Furthermore, discrepancies exist in actual carbon sequestration versus credited amounts, leading to more emissions persisting in the atmosphere than initially accounted for.