Why the carbon offset 'swear jar' needs an overhaul

Why the carbon offset 'swear jar' needs an overhaul

Firms relying on carbon offsets to tout their green credentials and reduce their environmental footprints are under fresh scrutiny after a court settlement.

Why the carbon offset ‘swear jar’ needs an overhaul

Carbon offsets seemed like an environmentally savvy investment for food packaging firm BioPak when the company invested in a solar power project in Southeast Asia. But over more than a decade, the project’s price rose, its transparency fell and Gary Smith’s firm started to question whether it was the best way to cut emissions. “My best description of carbon credits became a swear jar: I’m gonna do bad but I’ll pay for it and then I’m all good, I…