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Clifford Chance

Clifford Chance

Briefings

Carbon Offsetting: Coronavirus and beyond

13 May 2020

Until the economic impacts of coronavirus started to bite, the voluntary carbon market had been experiencing something of a rebirth. In the preceding twelve months, we saw a significant increase in demand for carbon credits, from airlines, industry and other businesses looking to offset their emissions. 

This was being driven in large part by the growing pressure on businesses to reduce their greenhouse gas emissions and to commit publicly to carbon reduction  targets. Carbon offset providers were scrambling to find enough credits and to develop new offset projects as quickly as possible to meet the increasing demand.   

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