Emission trading systems aim to put a price on carbon, to save emissions where it is cheapest and benefit the global climate. But the approach has failed so far. In the EU, the price for carbon has dropped to a low, so producers can easily continue polluting. And they are actually making huge profits from the permits they receive.
We don’t need any “reconciliation of the economy and ecology”. Instead, we should be saying no to destructive and exploitative projects and policies - and yes to a repoliticisation of environmental debate.
Corporations whose business models require the exploitation and destruction of nature are increasingly marketing products as carbon-neutral and deforestation-free. This is made possible by the concept of “compensation instead of reduction”. How does it work?