Tuesday
November 7
2023

Carbon Offset Market Faces Chaos as African Mega-Project Collapses

By Ben Elgin and Natasha White

The integrity of one of the largest single sources of credits in the $2 billion carbon market faces serious doubt following the collapse of the partnership behind Kariba, a mega-project in Zimbabwe backed by the world’s top seller of carbon offsets.

South Pole, the company that sold most of the credits tied to the forest-protection project, said on Friday that it terminated its contract with Carbon Green Investments, which owns and develops the site.

Photo courtesy of Nina R.

Source: Bloomberg (link opens in a new window)

Categories
Energy, Environment, Investing
Tags
decarbonization, ESG, failure, impact investing