Carbon credits ‘ineffective’, says corporate climate watchdog [Video]

The world’s top judge of corporate climate action on Tuesday described carbon credits as “ineffective” at addressing global warming and a risk for companies trying to reach net zero targets.

The use of credits by companies to make claims of carbon neutrality has long been challenged and the findings by the influential Science Based Targets Initiative (SBTi) were much anticipated.

SBTi is the gold standard for assessing the net zero plans of big businesses and the tick of approval allows companies to say their climate pledges align with science.

But the nonprofit, which is backed by the UN and WWF, sparked a staff revolt in April when it proposed allowing companies to use more carbon credits to meet their climate goals.

In response to demands that the CEO …