Offsetting has been hailed as a fix for runaway emissions and climate change—but the market’s largest firm sold millions of credits for carbon reductions that weren’t real.
The problem is that a number of countries and sub-national governments set up carbon trading schemes, and they ended up full of fraudulent offsets. There’s a lot of discussion about it right now because people are trying to figure out what to do about that.
I’m… not the brightest person in the world but the very first time I heard of companies buying carbon credits that would cure their pollution the alarm bells went off.
I guess the politicians that fall for this kind of crap put the ‘whale’ in whale phishing.
Does anybody else have the feeling that this gets repeated as often as possible, to make goverment run carbon trdaing schemes less likely?
The problem is that a number of countries and sub-national governments set up carbon trading schemes, and they ended up full of fraudulent offsets. There’s a lot of discussion about it right now because people are trying to figure out what to do about that.
I’m… not the brightest person in the world but the very first time I heard of companies buying carbon credits that would cure their pollution the alarm bells went off.
I guess the politicians that fall for this kind of crap put the ‘whale’ in whale phishing.
Thats due to offsets and you can just kick them out of your emissions scheme like with the EU ETS