Concerns Grow Over Carbon Credit Effectiveness

Research reveals that nearly two-thirds of net-zero goals among large UK firms will be met through purchasing carbon credits, with 88% already having invested an average of £2m each. However, concerns arise as only 51% of these credits are insured, leaving many businesses vulnerable should their credits fail, risking significant financial losses. In Taiwan, Environment Minister Peng Chi-ming acknowledges the need for more ambitious carbon reduction targets beyond the current 23-25% by 2030, emphasizing the importance of government leadership and new approaches from enterprises. Meanwhile, the effectiveness of carbon offsets is under scrutiny as the Science-Based Targets initiative (SBTi) finds them largely unverifiable, delaying their broader use until 2025. This shift raises fears that some companies may abandon their emissions targets altogether, citing inadequate support and technology deployment. The ongoing controversy around carbon credits highlights the challenges in balancing corporate sustainability goals with effective environmental policies.