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Carbon offsets are imperfect but necessary and the market needs to grow fast, says B of A exec
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cnbc.comIn this article
Companies and governments are racing to release pledges and commitments to decarbonize. Those goals mean the markets for carbon offsets need to get massively bigger and more standardized very quickly.
So says Karen Fang, who leads sustainable finance for Bank of America.
Right now, organizations are making best-faith estimates in their decarbonization plans — but they are only estimates, Fang told CNBC.
«I think the skepticism is always justified, because if anybody tells you today they know exactly every single technology, at what pace they're going to develop, how much and how fast will it take green hydrogen to break even with fossil — I think that's not credible,» Fang said. «Anybody who says they know the answer is not
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