ESG investments have slowed down, but carbon markets are expected to grow by 5% this year, reaching a value of over $800 billion. Carbon markets allow companies and individuals to compensate for their greenhouse gas emissions by purchasing carbon credits.
A few days ago, we reported that green and socially responsible investments, aka ESG Environmental, Social, and Governance investing, have slowed down dramatically amid multi-year highs in oil and gas prices. ESG assets in the United States have fallen by 50% compared to 2020 levels, a worrying trend considering the alarming climate reports that have been coming in.
has warned that the biggest risk posed by carbon credits is that they tend to encourage complacency. According to UN Environment climate specialist Niklas Hagelberg “UN Environment supports carbon offsets as a temporary measure leading up to 2030, and a tool for speeding up climate action. However, it is not a silver bullet, and the danger is that it can lead to complacency.
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