1. Keeping Offsets Honest.
- Author
-
Gerstell, Jonathan
- Subjects
Antitrust law -- Evaluation ,Securities fraud -- Laws, regulations and rules ,Forest conservation -- Laws, regulations and rules ,Best practices -- Laws, regulations and rules -- Environmental aspects ,Emissions credit trading -- Laws, regulations and rules ,Disclosure of information -- Laws, regulations and rules -- Evaluation ,Breach of contract -- Laws, regulations and rules ,Carbon offsets -- Laws, regulations and rules ,Government regulation ,Antitrust issue ,Securities Exchange Act (15 U.S.C. 78j(b)) ,Commodity Exchange Act ,Federal Trade Commission Act ,National Environmental Policy Act of 1969 - Abstract
TABLE OF CONTENTS I. Introduction 234 II. Background 239 A. What are Offsets? 239 B. The Need for Offsets 242 C. Carbon Offset Players 244 D. Challenges and Best Practices [...], The promise of carbon offsets is that we can fight climate change without having to make painful sacrifices. But carbon offsets are broken. Billions of dollars are spent annually to achieve emissions reductions that have been repeatedly shown to be wildly exaggerated if not outright fictitious. Meanwhile, rich countries continue to emit billions of tons of C[O.sub.2] cmd other greenhouse gases into the atmosphere every year. Government regulation is urgently needed but will not, on its own, suffice to adequately police the carbon offset market. This Note is the first scholarly analysis to consider how citizen-led litigation can and must play a role in holding the buyers, sellers, and brokers of carbon offsets accountable. The Note surveys a variety of laws that may be implicated in offset litigation--from state and federal environmental laws, to unfair competition and securities regulation, to contract law. Previous scholarship has examined problems in the administrative regulation of offsets. Such regulation is indeed needed, but private citizens have a powerful and necessary role to play too. Citizen oversight is critically needed because we have no hope of meeting the challenge of climate change without getting carbon offsets right.
- Published
- 2024