Carbon credits shouldn’t be confused with the carbon tax, as the latter ineffectively focuses on adding a cost to the emissions themselves, hoping for the companies to cut back, which rarely ever happens, and the taxes are never redistributed into the environment equivalently, but end up funding other government programmes. On the other hand, carbon credits guarantee that the money generated from high emission companies will be reinvested into more programmes which will sequester even more carbon, as that is the only way they will be able to produce more carbon credits and be sustainable.
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The Rise and Transcendence of Carbon Credits