West African nations advocate for carbon offsets in climate finance

A coalition of 10 West African countries has called for the inclusion of carbon offsets in corporate net-zero guidance, Reuters reported on Thursday.

They argue that offsets are critical for attracting climate financing. While some critics question their validity, others view offsets as a necessary tool to boost crucial finance.

The Science-Based Targets Initiative (SBTi) is reviewing guidelines, and uncertainty remains regarding their use.

UN Secretary-General Antonio Guterres also warned against “dubious carbon offsets” that erode public trust. Companies and developing nations rely on carbon offset projects to generate cash.