Chasing Carbon Unicorns: The deception of carbon markets and “net zero”

This report by Friends of the Earth International critiques the use of "net zero" pledges and carbon offsetting by corporations and governments, arguing that these mechanisms are used to obscure climate inaction and avoid the necessary phase-out of fossil fuels.

• The report argues that "net zero" pledges allow transnational corporations and governments to avoid direct emission reductions by relying on carbon offsetting, which enables fossil fuel companies to continue the exploration, extraction, and burning of fossil fuels.
• The land requirements for carbon sequestration are immense; sequestering 2 Gt CO2 via ecosystem restoration would require approximately 678 million hectares, which is roughly double the land area of India. This demand contributes to land and resource grabs and the violation of territorial rights for communities in the global south.

APA

Friends of the Earth International (n.d.). Chasing Carbon Unicorns: The deception of carbon markets and “net zero”. https://www.foei.org/publication/chasing-unicorns-carbon-markets-net-zero/

Chicago

Friends of the Earth International. Chasing Carbon Unicorns: The deception of carbon markets and “net zero”. n.d. https://www.foei.org/publication/chasing-unicorns-carbon-markets-net-zero/.

Wikipedia

{{cite report |author=Friends of the Earth International |title=Chasing Carbon Unicorns: The deception of carbon markets and “net zero” |url=https://www.foei.org/publication/chasing-unicorns-carbon-markets-net-zero/ |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{friendsoftheearthinternationalndchasing, author = {{Friends of the Earth International}}, title = {{Chasing Carbon Unicorns: The deception of carbon markets and “net zero”}}, institution = {Friends of the Earth International}, url = {https://www.foei.org/publication/chasing-unicorns-carbon-markets-net-zero/}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }