Oil Exports or Carbon Credits: The Global South’s Dilemma

Earlier this month, the Science Based Targets initiative caused a revolt among its employees when it announced it would allow the use of carbon credits to offset Scope 3 emissions. The revolt promptly made SBTi change its mind under pressure from those claiming carbon credits were no way to advance the net-zero agenda because all they did was allow emitters to keep emitting. A lot of poor countries would beg to differ, beginning with Guyana—the oil hotspot. Guyana’s president Irfaan Ali made headlines this month…