Renoster, a company mostly used by prospective buyers of carbon credits to help them avoid those without real climate benefits, was commissioned by the non-profit newsroom SourceMaterial to examine Finite’s projects.
The US treasury secretary, Janet Yellen, in May unveiled new principles to help strengthen the carbon market in an effort to “address significant existing challenges”, saying she had seen too many examples of offsets which didn’t represent real emissions reductions.
Last year the Guardian, SourceMaterial and the German newspaper Die Zeit revealed that as many as 90% of the most commonly traded offsets may be practically useless in mitigating global warming.
The former Sealaska executive vice-president Rick Harris said at one point prices for chartering helicopters dropped to such low levels that the company could afford to hire them to cut down low-value pulp logs.
Dave Clegern, public information officer for the California Air Resources Board (Carb), said: “If trees on steep terrain are valuable enough to warrant the cost of getting there and moving logs down the mountaintop, then they may be included in a baseline calculation.
Recent years have seen tribal lands ravaged by wildfires made more extreme by climate change, and there is a realization that carbon markets have played a role in allowing companies to pollute.
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