Carbon Markets: Silver Bullet or Mixed Blessing?

Carbon credits enjoyed significant popularity a few years back, but a media investigation revealed that most fail to deliver on the promises of conservation and emission reduction. Nevertheless, many continue to push for expanded carbon credit trading, touting it as a win-win solution. However, this argument may be both flawed and costly.

Earlier this week, the COP29 parties agreed on standards for a global carbon credit market backed by the United Nations, aimed at expanding trade in emissions with a view to providing much-needed funds for the…