Something like Gresham’s Law is at work in the carbon offset market, which was set up to fight climate change.
Bad carbon credits are driving out good carbon credits.
The Barclays report focused on the voluntary carbon market.
That’s the one that companies such as Microsoft and Salesforce are using to help reach their goals of net-zero carbon emissions.
The voluntary carbon market can be a valuable mechanism for directing investment to developing nations that need help in the fight against climate change.
Persons:
Gresham’s
Organizations:
Barclays, Microsoft
Locations:
British, Brazil