Mongabay Newscast

A paper in the journal Nature Climate Change concludes there is limited accountability for corporations that fail to achieve their climate change mitigation targets. The analysis shows 9% of company decarbonization plans missed their goals, while 31% “disappeared.” However, 60% of companies met their targets. While this might initially seem like good news, it may not be leading to genuine climate action. This week's podcast guest, Ketan Joshi, a consultant and researcher for nonprofit organizations in the climate sector, explains that many corporations are not actually decarbonizing their supply chains, but rather relying on buying renewable energy certificates and carbon credits to "offset" additional carbon emissions from their business. While carbon offsets are often touted as a way to directly fund climate action on the ground, Joshi stresses there is no verifiable way to track how much is funding these projects. Typically, credits are purchased from a broker, and 90% of these intermediaries arranging suc