Australian businesses are under investigation for buying carbon credits from the Kariba REDD+ Forest Project, which is now alleged to have sold worthless emissions offsets. Companies such as Origin Energy, KPMG, and Zoos Victoria have used these credits to offset their emissions, but the scheme is now being investigated by international greenhouse crediting organization Verra. Australia's official carbon assessor, Climate Active, has frozen applications from businesses wanting to use Kariba credits.
Australia n businesses have bought into a carbon credit scheme that promised to regenerate Zimbabwean forest but is now under investigation for allegedly selling worthless emissions offsets . Australia n businesses have used Kariba REDD+ Forest Project credits to offset their emissionsIt is now under international investigation over allegations it sold worthless credits
But earlier this month, The New Yorker magazine ran a feature that alleged the Kariba credits were overvalued or worthless.The magazine alleged three million worthless credits were sold around the world to major international companies and a network of zoos in Australia. They denied misleading customers or any suggestion they knew about problems with Kariba credits before they bought them.
The spokesperson said they would cooperate with Climate Active and that Frasers Property had contacted the firm that sold the credits for advice.Salary packing operation Simplygreen said it had only bought a small number of credits in 2022 before the allegations surfaced, and that the credits were not associated with its carbon neutral status.
"We note Verra's investigation is ongoing and we will consider our position as more information becomes available,'' the spokesperson said.The spokesperson said Origin had a range of products which had been certified by Climate Active as meeting requirements of Climate Active standards and these were reviewed on an ongoing basis.
Australia Carbon Credits Investigation Kariba REDD+ Forest Project Emissions Offsets Greenhouse Crediting Verra Origin Energy KPMG Zoos Victoria Climate Active
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