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  "documentTitle": "ey net zero centre carbon offset publication 20220530",
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  "authorName": "Grantham Research Institute",
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      "text": "We estimate that at least 52% of approved carbon offsets were allocated to projects that would very likely have been built anyway.",
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      "text": "This Version: October 2021. Corresponding and Lead Author: raphael.calel@georgetown.edu. We thank Jishnu Das, Dave Donaldson, Seema Jayachandran, Molly Lipscomb, David Popp, David Rapson, Lutz Sager, Joseph Shapiro, Jay Shimshack, Sandip Sukhtankar...",
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      "text": "percentage of wasted offsets: 52%",
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      "text": "We develop and implement a new method for identifying wasted subsidies, and use it to provide systematic evidence on the misallocation of carbon offsets in the Clean Development Mechanism—the world's largest carbon offset program.",
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      "text": "Carbon offsets have become a popular tool in global efforts to mitigate climate change. These programs work by offering regulated polluters the opportunity to increase their own emissions if they subsidize equivalent emission reductions in unregulated markets.",
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      "text": "Do Carbon Offsets Offset Carbon?",
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