Demand for carbon offsets has grown 140-fold in 10 years

Carbon offsetting involves paying for activities that reduce emissions or remove CO2 from the air [3]. The demand for voluntary carbon offsetting increased from 0.3 million tons CO2e* in 2008 to 42.8 million tons CO2e in 2018 [1]. But this still only offsets a small proportion of global annual emissions – 53.5 billion tons of CO2e were emitted in 2017 [2]. Offsets in 2018 covered only 0.08% of this.

In our next post we’ll look at how useful carbon offsetting really is.

*CO2e = CO2 equivalents; a way of measuring the global warming effect of multiple different greenhouse gases like CO2, methane, and N2O with one unit [4]

References

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