This podcast episode discusses the investigation that exposes the worthlessness of the majority of rainforest credits, which are the most common carbon offsets. Efforts are being made by various actors and industries to address this issue and improve the carbon offset system. The EU plans to regulate claims made by companies purchasing offsets, while the industry aims to establish new paradigms for ensuring high integrity carbon credits. However, critics remain skeptical about whether these efforts will be enough to fix the existing system. The episode also explores the limitations and risks associated with carbon offsets and the shift towards a new approach called contribution. Some countries, like France and the UK, have already prohibited calling products carbon neutral to avoid misleading claims. The section concludes by mentioning the regulations on carbon neutrality in France and the UK, the approval of a $58 billion bill for energy and water programs, and Chevron's support for carbon capture and storage.
