this post was submitted on 24 May 2024
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And this goes back to the first post I made, about the difference between carbon markets and carbon offsets. The EU ETS does not have offsets and does not allow for emitters promising to emit less to be paid for doing so. There are a capped amount of carbon credits auctioned by a government body, which companies emitting within the EU and some other member countries have to buy to be permitted to emit. The amount of credits is lowered every year towards zero by 2050. The money paid goes to the government to be used to support green projects or be paid out to citizens. To put it another way: