Read: Dim outlook for carbon market as companies cut backThere is growing debate over the ethics and efficacy of offsets, also called carbon credits, to excuse some corporate emissions. Offsets are generated by investing in projects that lower or prevent carbon emissions and can be traded. AdvertisementThe letter's main author told Reuters that the lack of certainty in the SBTi's guidance was damaging corporate confidence and slowing financing. This was welcomed by both companies and developing countries that are relying on carbon offset projects to generate cash. In their May 24 letter, the West African countries reminded the SBTi board of its pledge in April, which is still on its website.
