Renowned carbon credits project in Zimbabwe has more financial holes than Swiss cheese

illuminem summarizes for you the essential news of the day. Read the full piece in Follow The Money or enjoy below 

🗞️ Driving the News:  Reporters Farai Matiashe and Tafadzwa Ufumeli embarked on an unannounced visit to Zimbabwe's Kariba project reveling discrepancies and unfulfilled promises 
• The journalists' investigation exposes a stark reality – the project's impact on the local community remains questionable, with alleged financial support failing to reach those in need

🔭 The context: The project's allure lies in its promise to offset emissions for major clients like Gucci and Volkswagen, generating substantial revenue
• The project had garnered significant support from major players like South Pole, a renowned climate consultancy and carbon credits trader

🌎 Why It Matters for the Planet: Such projects are instrumental in combating climate change, as supposedly it produces carbon credits, each accounting for one tonne of carbon emissions
• The failure to deliver on promises can hinder progress in global efforts to protect the environment and support local communities

⏭️ What's next: Following critiques over lack of transparency, South Pole, an essential participant in the project, has downplayed its active trading role, instead emphasizing its consultancy function
• This raises inquiries regarding how carbon consultants should be accountable for discrepancies in their representation and actions within the carbon marketù

💬 One quote: “As the carbon consultant, we are not in a position to answer the above questions” (South Pole)

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