Do Carbon Offsets Offset Carbon?

Do Carbon Offsets Offset Carbon?
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DOI:
10.2139/ssrn.3950103
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发表时间:
2021
期刊:
SSRN Electronic Journal
影响因子:
--
通讯作者:
M. Glachant
M. Glachant
中科院分区:
--
文献类型:
--
作者:
Raphael Calel;J. Colmer;Antoine Dechezleprêtre;M. Glachant

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We develop and implement a new method for identifying wasted subsidies, and use it to provide systematic evidence on the misallocation of carbon o(cid:11)sets in the Clean Development Mechanism|the world’s largest carbon o(cid:11)set program. Using newly constructed data on the locations and characteristics of 1,350 wind farms in India|a context where it was believed, ex ante , that the Clean Development Mechanism could signi(cid:12)cantly increase development above baseline projections|we estimate that at least 52% of approved carbon o(cid:11)sets were allocated to projects that would very likely have been built anyway. In addition to wasting scarce resources, we estimate that the sale of these o(cid:11)sets to regulated polluters has substantially increased global carbon dioxide emissions.