As part of their efforts to tackle climate change, businesses are increasingly relying on the buying and selling of credits to offset emissions. This approach was developed at COP26 last year to create new market mechanisms underpinning Article 6 of the Paris Agreement. Amid rising concerns that the lack of transparency and oversight of offsets might lead to greenwashing,…
As the world’s biggest international finance institutions, the IMF and World Bank, gathered for their annual Spring Meetings, Kristalina Georgieva, the IMF’s managing director, warned of the compounding crises affecting the world. Africa, Georgieva said, was “particularly vulnerable” to the economic upheaval following Russia’s invasion of Ukraine.