Buying and selling carbon, otherwise known as the Carbon Market, is seen as an important way to combat climate change. Extreme weather events are costing all economies. Thus, the idea of gaining credits for reducing greenhouse gases and then trading those credits for the right price can not only help developing nations financially but also transition to a clean economy. It is a win-win scenario.
However, many of these stories highlight the loopholes in the carbon markets. This makes matters worse as it creates a positive facade to an ever-growing problem.