The biggest chunk of the losses will likely be borne by workers in carbon-intensive sectors, which employ almost 32 million people across the world
Tech giants Microsoft, Meta and Google have all made purchases of carbon offsets in the Amazon rainforest this year
Sectors like cement, chemicals and shipping aren’t securing enough orders for more emissions-friendly items, according to a COP28 initiative
The deal between Standard Chartered bank and UK-based start-up UNDO could open up a new path to financing for the carbon removals industry
Carbon dioxide removal is estimated to become a $100 billion industry by 2030, provided it can be scaled up
Since last year, multiple reports have raised concerns about the authenticity and integrity of oil firms' emissions reduction projects in China — which in one case was actually chicken farm, according to a whistleblower
A recent report saying carbon offsets were ‘largely ineffective’ could lead firms to abandon or pare back investment in nature and carbon removals
China is the world’s biggest emitter of greenhouse gases and has set ambitious targets to cut down its emissions, including hitting peak carbon levels by 2030
The move is significant given estimates that the carbon removal industry could earn up to $100 billion a year by 2030, but remains plagued by scepticism
All existing carbon credits linked to renewable energy projects failed to qualify as per the Core Carbon Principle standards due to concerns over their role in preventing emissions