Freeman Spogli Institute for International Studies Program on Energy and Sustainable Development Stanford University


PESD News



July 23, 2008

Victor discusses climate policy, offsets, and incentives in Wall Street Journal

in the news: Wall Street Journal on July 23, 2008

Income from carbon offsets has become French chemical manufacturer Rhodia SA's most profitable business. The WSJ estimates payouts to the firm from projects in Brazil and South Korea could total $1 billion over seven years, raising questions about the incentive structure of the CDM. David Victor argues that carbon markets are not sending the appropriate signals to the developing world.