23rd February 2023

Latest research with board directors of FTSE 350 listed companies finds two-thirds are ‘very concerned’ and 35% are ‘quite concerned’ about the level of transparency offered by some carbon offsetting schemes in terms of how they operate, their goals and objectives, and what they actually deliver (please see the attached press release).  

The research commissioned by Kana Earth, a new company aiming to bring trust and buyer assurances to the UK carbon offset market with their open, auditable and scalable ledger for UK carbon offset units,  found just over half (52%) of respondents think their company’s carbon offsetting strategy is ‘very effective’ while just over two-fifths (42%) say it is quite effective.  Six percent rate their offsetting strategy as average.  There are also considerable levels of concern among the UK’s largest listed companies that efforts to offset their Co2 emissions would be counterproductive.  Nearly three-quarters (72%) of respondents say they are ‘very concerned’ and 28% say they are ‘quite concerned’ about the true credentials and achievements of some carbon offsetting schemes.

Andy Creak, CEO and co-founder, Kana Earth Ltd said: “If the UK is to meet its net zero emissions targets companies need to be able to rely on a robust carbon offsetting market based on authentic impactful projects. The Kana Earth ledger holds all the information of registered carbon offsetting projects including all the supporting documentation, audit trails and marketing literature.”