Forestry programmes part of company climate plans are under threat from intense blazes
One of the largest wildfires in California’s history has burnt through swaths of forest earmarked for conservation under carbon credit plans backed by companies including oil refining and power groups. The blaze so far covering 450,000 acres, known as the Park Fire, has destroyed around 45,000 acres of trees enrolled in California’s carbon offset programme, according to estimates by non-profit research group CarbonPlan.
The Californian programme includes a “buffer pool” that is not sold but intended to replace losses caused by wildfires, pests, drought, or other unforeseen events that wipe out credited trees. Every project that is allowed to generate credits contributes between 10 to 20 per cent of its credits to the buffer pool. But researchers are now concerned that the pool is not large enough to cover the scale of the burning witnessed across western US states. Around 6.
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