Carbon offset projects are a solution that has gained traction to curb the climate crisis, by financially linking local environmental initiatives that are reducing deforestation with companies seeking to offset the environmental footprint caused by their fossil fuel use. In theory, it should be a win-win.
But this fledgling climate finance mechanism is not working as it should in Latin America. Journalistic investigations have documented a range of irregularities, from excluded Indigenous communities, evident conflicts of interest, to illegal timber laundering, all of which undermine its promise and its credibility.
In a largely unregulated market with limited transparency, public tools and data are needed to better understand where these Redd+ projects are located, who has been developing them, and who has ultimately benefited from them.