Switzerland's purchase of carbon credits from Thailand, the first bilateral offset trading under the Paris Agreement, raises concerns about the claimed emissions reductions' integrity. Critics argue that the shift to electric buses in Bangkok, part of the deal, would have happened regardless, questioning the credibility of the offsetting scheme. The lack of centralized oversight for such transactions under the Paris Agreement is highlighted, with efforts to introduce controls at COP28 in December failing. The controversy involves South Pole, the consultancy coordinating the initiative, which exited a major carbon offset project in Zimbabwe over quality concerns. Despite concerns, Switzerland continues bilateral carbon credit trading, emphasizing the need for transparent and effective oversight.

Source:  Carbonherald