The carbon offset industry is using the same sort of ‘future value accounting’ that caused the collapse of energy giant Enron, according to a watchdog group.
When companies like Climate Care and the Carbon Neutral Company sell the public carbon offsets, carbon savings expected to be made in the future are counted as savings made in the present. This is the same technique used by Enron to inflate its profits with such disastrous consequences.
Corporate pledges to fight deforestation by turning degraded pasture into cropland seen boosting demand for harmful chemical inputs.
As the New York-based firm was preparing to work on the climate summit, it was also pushing for Brazilian oil and gas distributor Vibra Energia to help power it.
Trade groups lobbied ministers to promote a source of energy linked to massive environmental harms at the U.N. climate conference.
Agribusiness companies generate huge quantities of greenhouse gas pollution — and PR companies help them obscure it.
