"No proven connection between the use of carbon credits and climate ambition" (Carbon Market Watch)

"Companies' investments in the VCM (voluntary carbon market) are not proof of their climate ambitions. On the other hand, excessive purchases of carbon credits on the voluntary market can slow down companies' internal emissions reductions or even increase their emissions": these are the main findings of a study conducted by independent researchers from the Oeko-Institut on behalf of Carbon Market Watch, published on 25/11/2025. The aim of the study is to examine the claims made by VCM players, in order to establish whether or not there is a causal link between carbon credits and companies' climate policies.

The authors of the study warned of the risk of greenwashing associated with the purchase of carbon credits, whose terminology suggests climate responsabilty, "that this investment is doing good in the world", when "this is in fact a smokescreen".

“Carbon credits have become a comforting myth, not a catalyst for genuine corporate climate ambition. The unhelpful narrative that buying credits accelerates real decarbonisation runs counter to the evidence and distracts us from…