At the World Bank, and then in the private sector, Newcombe was one of the major proponents of carbon trading. He also spent 16 years on Verra’s board of directors.
Well, no, it's not a recipe for disaster, it's a blank cheque for "in-principle, endless capital," a money-making machine, especially one that pumps millions into investor's pockets with no end in sight, because that flow of money has demonstrably not lowered atmospheric CO2 by one tiny ppm.
Emission trading schemes successfully ended acid rains: "A 2021 study found that the "Acid Rain Program caused lasting improvements in ambient air quality," reducing mortality risk by 5% over 10 years" https://en.wikipedia.org/wiki/Acid_Rain_Program#:~:text=The%20program%20is%20an%20implementation,to%20individual%20needs%20and%20costs.
Well, no, it's not a recipe for disaster, it's a blank cheque for "in-principle, endless capital," a money-making machine, especially one that pumps millions into investor's pockets with no end in sight, because that flow of money has demonstrably not lowered atmospheric CO2 by one tiny ppm.