Critics warn that carbon markets incentivize countries and corporations to offset – rather than cut – emissions responsible for global heating by investing in so-called green energy projects like biofuel monocrops and hydroelectric dams, which are linked to environmental destruction, forced displacement, arbitrary arrests and even murder.

In addition, such carbon credit schemes often rely on sequestering land, forests and rivers relied on by indigenous and local communities for food, water, medicine and spiritual traditions, and there is little evidence to suggest they lead to a genuine drop in emissions.

‘A death sentence’: Indigenous climate activists denounce Cop26 deal

Schemes such as carbon trading favored by polluting nations lead to ecologically destructive projects like biofuels and dams