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Faulty Credits Tarnish Billion-Dollar Carbon Offset Seller

(Bloomberg) -- Renat Heuberger gathered his co-founders on a glacier in the Swiss Alps for a celebration. The half-dozen men behind South Pole, the world’s leading seller of carbon offsets, raised their beers around a crackling fire: Business was booming and the Zurich firm’s valuation was hurtling toward $1 billion, making it one of the first “carbon unicorns.” But the claims underpinning South Pole’s success have been losing ground like the ice underfoot that day two summers ago. The...
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