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#bursting

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Told ya so ...

https://www.theguardian.com/environment/2023/aug/24/carbon-credit-speculators-could-lose-billions-as-offsets-deemed-worthless-aoe

Amid growing evidence that huge numbers of carbon credits do nothing to mitigate global heating and can sometimes be linked to alleged human rights concerns, there is a growing pile of carbon credits equivalent to the annual emissions of Japan, the world’s fifth largest polluter, that are unused in the unregulated voluntary market, according to market analysis.
#Carbon #credit schemes and cap-and-trade schemes have never really been about reducing CO₂ emissions, so much as about introducing a new #commodity that business and investors can #speculate on. But now the carbon-credit #bubble is #bursting as embarrassing reports keep on surfacing that the Emperor has no clothes.
The GuardianCarbon credit speculators could lose billions as offsets deemed ‘worthless’By Patrick Greenfield