To the Editor:
In “Carbon Offsets: A Small Price to Pay for Efficiency” (Economic View, May 31), Robert H. Frank wrote that “there is no reason that fraud should be harder to curb in carbon-offset markets than in other domains.”
Unfortunately, the very nature of offset markets provides a fundamental challenge that is not present in most markets. This is because offset markets, essentially, pay some companies for carbon they haven’t produced.
See full Letter.
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