cap-and-trade
Cap-and-trade is an accounting alchemy that allows companies to buy and sell the sin of carbon dioxide, settling their apologies in monetary units. The pageantry of climate action unfolds on exchange floors where carbon credits pirouette in a dance of figures. The irony is that trading volume garners more applause than actual emission cuts. Environmental stewardship survives only within the fine print of agreements and trading contracts. The urgency of the climate crisis is reduced to the win-or-lose scoreboard of fiscal reporting.