Analysis Reveals Transparency Gaps in DAX40 Carbon Credit Reporting

A joint report by Senken and Sylvera highlights significant gaps in transparency and quality in the carbon credit disclosures of Germany's largest public companies under the CSRD. The study analyzed the FY2025 reports of 39 DAX40 companies, revealing that none disclosed project-level data needed for verification.

The report shows that 45% of reported credits, amounting to 2.17 million tCO2e, are untraceable via public registries, while 57% of assessed projects did not meet Sylvera's quality standards. Only six companies provided some project details, with four doing so voluntarily.

Adrian Wons of Senken stated that while 4.84 million carbon credits were reported, significant portions lacked verification identifiers. Allister Furey of Sylvera emphasized the necessity of project-level disclosure for credible impact assessment.