A major global carbon market is facing renewed scrutiny with a new study questioning the credibility of auditors who decide the validity of projects that claim to help fight climate change.
Auditors are a key part of the world’s voluntary carbon market system, which lets major polluters unofficially offset their greenhouse gas emissions by funding projects such as forest protection.
Although independent auditors are supposed to assess whether the projects actually are helpful, a recent study posted on the University of Pennsylvania Carey Law School research site says they aren’t.
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The study says the system for how auditors are paid creates a conflict of interest that encourages them to approve projects.
