Reporter Mark Schapiro was interviewed by Kai Ryssdal of Marketplace on January 20th about his piece in Harper’s Magazine outlining how corporations have found loopholes in the carbon cap and trade system, and how to verify those carbon credits.
In the interview, Schapiro explains there are companies that go over their emission caps every month, and know exactly by how much. They need to buy carbon credits in order to not go over their cap. The companies then turn to a developing country such as Brazil, which sells the companies the extra credits they need. All the while, the companies are doing nothing to actually reduce the amount of carbon they are emitting.
Schapiro writes about the people who measure carbon emissions and the reliability of the measurements. What is the United States going to do when we step in?