Researchers call Australia carbon credit scheme a ‘catastrophe’

Australia's reforestation project for carbon offset credits revealed as a "catastrophe" in damning new research findings.

Australia’s carbon credit scheme was undermined by damning new research on March 27, which found a world-leading reforestation project had been an underperforming “catastrophe”.

Vast swathes of land across Australia’s desert Outback have been earmarked for native forest regeneration meant to offset emissions as new trees suck up carbon.

But researchers have found that across almost 80% of these plantations forest growth was either stagnant or that woodlands were shrinking.

Despite this, Australia had used these projects to bank millions of tonnes in questionable carbon credits, scientists said, which are used to supposedly offset polluting industries.

“I think it can only be described, and I’m using generous words here, as a gross failure,” lead author Andrew Macintosh told AFP.

Australia has set aside almost 42 million hectares under the scheme, an area larger than the landmass of Japan. Researchers said it was “one of the world’s largest” natural carbon offset projects.

Officials claim that since 2013, the native forest spreading across this land has sucked up more than 27 million tonnes of carbon.