Carbon credits, even when well within the law, don’t always help those intended. Many high pollution companies have not even given thought to decreasing emissions, while instead buying cheap carbon credits to offset their footprint. These offsets had the original intention of helping developing nations economically and in such a way that they are more environmentally sustainable. These European companies are getting around this by instead of European Union offset, have purchased U.N. monitored credits that are cheaper and for the most part go to developed nations like India and China. This just further emphasizes the point, that if carbon credits and offsets are to have a sustained benefit to the environment, more stringent rules, and closer supervision must be instituted.
Even more loopholes in carbon offsets, money going where it wasn’t intended