1058 days ago • Posted by William Ramstein
Are Carbon offset akin to ''papal indulgences'' ?
In medieval times, papal indulgences were payments made to the church to eliminate the stain of sinful deeds--cheap carbon offset programs can be used to avoid the hard work of actually cutting emissions, thus papal indulgences. Questions arise around whether or not companies should be allowed to balance their carbon ledgers with offsets before first exhausting all other options to clean up their operations--not all firms are incentivized to achieve this however.
Source: Bloomberg
