Investor group bans carbon removal from CO2 reduction plans

The Net Zero Asset Owner Alliance said on Tuesday it wanted its members to focus in the first instance on encouraging investee companies to reduce emissions across all sectors, rather than removing carbon that has already been emitted by, for example, planting large numbers of trees.

The new policy applies to NZAOA members and the companies in which they invest, after a previous version prohibiting carbon offsets generated questions from members. "Investments in high quality carbon removals will encourage demand and the development of the market," said Jessica Andrews, UNEP FI investment lead and senior project manager for NZAOA.Not all investors back the prescriptive approach.

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Source: Gothamist - 🏆 456. / 53 Read more »