10. What are the criticisms of carbon markets?
We have selected three criticisms of carbon markets, but there are many more:
Already in times as early as 2009 the media EL PAÍS indicated: “What irony. For years the industry has pressed against the limitation of carbon dioxide emissions imposed by the Kyoto Protocol. However, at the end of the first year of entry into force of the protocol, heavy industry, especially that linked to the construction sector (tile, brick, cement, etc.), has sold the emission rights of between 20 and 25 million tons, with what they have entered between 400 and 500 million euros, according to the estimate of Ismael Romeo, general director of Sendeco2, the Spanish CO2 exchange. ”
“When the Kyoto protocol was signed in 1997, the emission in millions of tons of CO2 into the atmosphere was 23,173. In 2005, which came into force, due to the incorporation of Russia, CO2 emissions were 28.504 million tons, and in 2007, according to the registry published by the International Energy Agency (EIA), they were 29,914 million tons, when the Kyoto target for 2012 is set at 1990 emissions, that is, 18,512 million tons. According to these data in 2007 the volume of emissions of the year 1990 would have been exceeded by more than 50%…”. As reported by JavierColmo.com
Finally, Time reviews some comments from Gilles Dufrasne, policy officer of Carbon Markets Watch: “In a world where we all go to zero net, there is no additional mitigation anywhere you can buy or sell … All logic to offset its emissions abroad has no future. It is not compatible with the Paris agreement.”