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  "documentTitle": "ey net zero centre carbon offset publication 20220530",
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      "text": "Do carbon offsets offset carbon? Our analysis suggests that in many cases they don't.",
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      "text": "CO2 emissions: 6.1 billion tonnes",
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      "text": "These findings contribute most directly to our understanding of carbon offset programs. Carbon offsetting is an increasingly important policy tool. It is critical to carefully consider the design of these programs going forward.",
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      "text": "Our findings are robust to a broad range of sensitivity tests. For instance, our results remain qualitatively similar even if we systematically deflate the power output and inflate the connection costs of CDM projects by as much as 20%.",
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      "text": "Do carbon offsets offset carbon? Our analysis suggests that in many cases they don't. Carbon offsets are frequently given to BLIMPs, which means that they do not generate the emissions reductions needed to offset the emissions increases that they enable.",
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      "text": "1 For scale, the average conventional coal plant in the US in 2019 had a capacity of 808 MW... 2 Infra-marginal projects may also result in agglomeration effects...",
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