It isn't.gremlin wrote: ↑Mon Jul 03, 2023 3:35 pmKinda already exists, but in the world of industry:
https://climate.ec.europa.eu/eu-action/ ... -eu-ets_en
The theory is that it is an incentive to reduce your carbon emissions and sell remaining rights. If you want to produce more carbon, you buy in the secondary market.
Is it effective? Fuck knows.
There are a myriad of different 'standards' for a companies 'greeness'. Some are a fair attempt, some are crap. Then there are the secondary markets, some sellers are honest and fair, some are sharks. They plant 1m trees, and walk away. And 5 years later, when all those trees have died from unsuitable conditions and lack of care, and after the land has been sold 3 times to cover the tracks, they sell another 1m trees in the same place. Rinse and repeat, or even just say you planted the trees, who is checking?
The good news is that the International Financial Reporting Standards body is in the process of setting up some agreed international standards that should bring some order into the chaos. Like all international standards it is a slow, painful process. However it has 1 good thing going for it, the CJ sprog is Programme Director for the process.
