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Amazon , Exxon , and Microsoft have join a new task force to burnish the image of scandal - molest voluntary C markets .
The task force play , organized by the Bipartisan Policy Center think storage tank , is desire to improve credibility of voluntary carbon paper market , learn the status quo and drafting “ insurance recommendation for how the federal government can kick upstairs just , efficient , and gossamer food market , ” accord to the task force’swebsite .
The panel , which let in 17 independent fellow member , was harbinger last week . It arrives as technical school companies have ramped up their investments in AI , which have given their stocks a tidy boost . But they ’ve also strive their ability to hit their climate pledges .
Microsoft ’s carbon emissions skyrocket in 2023 , up nearly 30 % from the twelvemonth before despite havingnearly 20 gigawattsof renewable power under declaration . And Amazon ’s progress has stall , down only slightly in the same time period even though it has invested heavily inrenewable energyandelectric delivery vehicles .
In a bidding to keep their net - zero target within orbit , both company have become major player in the voluntary carbon copy markets . Microsoft boughtover 7 million metric tonsof carbon credits last calendar month alone , while last year Amazon and other companies bought$180 million worthof offsets to conserve a swath of rain forest in Brazil .
But in late geezerhood , those markets have been rocked by outrage .
An probe in 2023revealedthat Verra , a nonprofit that certified carbon credits , had sold tens of jillion of offsets that were effectively worthless . Verra sold credits that purport to reduce deforestation in place like Peru . Analysis showed those area had n’t been at important risk of logging or clearing . The investigating suggested that more than 90 % of rainforest - relate credits had almost no effect on reducing carbon paper emissions .
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Verra disputed the report . Six months afterward , the long - time CEO of the organizationresigned .
The labor force , which was take shape last hebdomad , also include representatives from startups like Heirloom , Isometric , and BeZero . nonprofit are also part of the job force , as is the former Verra CEO and an executive from timber jumbo Weyerhaeuser .
